Position -Engineer - Cost Analysis

Reports To - Manager - Product Development

Purpose of the Role:
The Engineer - Cost Analysis is responsible for analysing product and process costs, preparing cost estimates, supporting costing decisions for new and existing products, identifying cost-saving opportunities, and working cross-functionally with Engineering, Procurement, Production, and Finance teams to improve profitability and operational efficiency.

Key Roles & Responsibilities:
- Prepare detailed cost estimates for new products, assemblies, and components.
- Develop standard costing models based on material, labour, overhead, tooling, and manufacturing expenses.
- Analyse Bills of Materials (BOMs), drawings, and specifications to determine product costs.
- Support quotation and pricing activities by providing accurate cost calculations.
- Validate and maintain product cost databases.
- Evaluate manufacturing expenses and identify opportunities for cost optimization.
- Identify and implement cost reduction initiatives without compromising quality or performance.




- Analyze alternative materials, manufacturing methods, and suppliers for cost benefits.
- Work closely with Product Development, Manufacturing, Procurement, Quality, and Finance teams.
- Support make-versus-buy analyses and sourcing decisions and evaluate tooling, fixture, and capital investment costs.

Key Performance Indicators (KPIs):
- Data Accuracy of cost estimates.
- Standard cost maintenance and variance reduction.
- Annual cost savings achieved.
- Timely completion of costing requests and quotations.
- Improvement in product profitability.

Required Skills & Competencies:
- Strong knowledge of costing methodologies and manufacturing processes.
- Proficiency in Excel
- Understanding of BOM structures, routing, and manufacturing economics.
- Analytical and problem-solving skills.
- Positive communication and cross-functional coordination abilities.
- Attention to detail and data accuracy.

Educational

📌 Engineer- Cost Analysis (Hyderabad)
🏢 Foxx Life Sciences
📍 Hyderabad