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 prospects for cost optimization.
Identify and implement cost reduction initiatives without compromising quality or performance.




Analyze alternative materials, manufacturing methods, and suppliers for cost advantages.
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.

Education

📌 Engineer Cost Analysis Hyderabad
🏢 Foxx lifesciences
📍 Hyderabad