Job Purpose

The Costing Engineer is responsible for estimating product costs, analyzing cost structures, and supporting pricing decisions to ensure profitability. The role involves working closely with engineering, production, procurement, and sales teams to accurately evaluate material, labor, and overhead costs for products and projects.

Key Responsibilities
Cost Estimation & Analysis
Prepare detailed cost estimates for products, projects, and new enquiries.
Analyze raw material, labor, overheads, and operational costs.
Evaluate cost drivers and identify opportunities for cost optimization.
Product Costing
Develop and maintain standard costing models for products.
Calculate BOM (Bill of Materials) costs and validate accuracy.
Monitor variance between estimated vs actual costs and highlight deviations.
Pricing Support
Support sales and commercial teams in price determination.
Ensure pricing aligns with company margin expectations and market conditions.
Provide cost inputs for tenders, RFQs, and large commercial proposals.
Cross-functional Coordination
Collaborate with:
Engineering for product design inputs
Procurement for raw material costs
Production for manufacturing costs and cycle times




Support design-to-cost initiatives and value engineering efforts.
Cost Control & Optimization
Identify cost reduction opportunities and suggest improvements.
Participate in continuous improvement initiatives to enhance cost efficiency.
Track and review cost trends, especially for raw materials.
Documentation & Reporting
Maintain accurate costing records and documentation.
Prepare cost reports, margin analysis, and MIS reports for management.
Ensure compliance with internal costing policies and audit requirements.

Technical Skills
Robust knowledge of:
Costing methods (standard costing, activity-based costing)
BOM and product costing
Proficiency in Excel and data analysis
Experience with ERP systems (SAP, Oracle, etc.)

Core Competencies
Solid analytical and problem-solving skills
Attention to detail and accuracy
Valuable communication and coordination skills
Commercial awareness and business acumen

Key Success Metrics
Accuracy of cost estimates
Improvement in product margins
Timely completion of cost analysis
Cost reduction initiatives implemented

📌 Costing Engineer Vadodara
🏢 POLYCAB
📍 Vadodara