Role & responsibilities To prepare accurate part component cost estimates based on drawings, BOMs, raw materials, manufacturing processes, cycle times, labour, tooling and overheads. The role will analyse supplier quotations, conduct should-costing, identify cost-reduction opportunities and support Purchase and Engineering teams in achieving competitive part costs.

Key Responsibilities

1. Part Costing & Cost Estimation

Prepare detailed part/component cost sheets based on drawings, specifications and BOMs.

Calculate raw material, process, labour, machine, tooling, overhead and other manufacturing costs.

Study engineering drawings to understand material, dimensions, tolerances, weight and manufacturing requirements.

Analyse manufacturing processes such as machining, fabrication, sheet metal, casting, forging, welding, injection moulding, etc., as applicable.

Calculate material consumption, process losses, scrap/recovery and yield.

Estimate machine/process cycle time, setup time and labour requirements.

Prepare accurate should-cost / target-cost for parts and components.

2. Drawing, BOM & Process Analysis

Review drawings, BOMs and technical specifications for costing.

Identify the manufacturing route/process required to produce the part.

Understand the impact of design features, tolerances, material grades and specifications on cost.

Work with Engineering to identify design or process changes for cost optimisation.

Update costing whenever there are changes in drawing, material, process or specification.

3. Supplier Quotation & Cost Analysis

Analyse supplier quotations and compare them with internally calculated should-costs.

Prepare detailed supplier cost breakdowns for purchased parts.

Benchmark supplier prices against market prices and similar components.

Identify differences between supplier quoted prices and calculated costs.





Support Purchase during commercial negotiations with suppliers using cost analysis.

Analyse the impact of raw-material price changes on component prices.

4. Cost Reduction & Value Engineering

Identify opportunities for part cost reduction through material, process and design optimisation.

Conduct Should-Cost, Value Analysis and Value Engineering (VA/VE).

Identify opportunities to reduce material consumption, machining time, process cost and scrap.

Evaluate alternate materials, manufacturing processes and suppliers for cost optimisation.

Participate in Kaizen and continuous cost-reduction projects.

5. Recent Product / Part Costing

Prepare costing for new parts and components during NPD.

Provide cost inputs to Engineering and Purchase during product development.

Compare different manufacturing/process options based on cost.

Support target-cost setting for new parts.

Maintain costing records for existing parts and update them based on changes.

6. Cost Validation & Variance Analysis

Compare estimated/should-cost vs. supplier price and actual manufacturing cost.

Identify major cost variances and their reasons.

Work with Production, Engineering, Purchase and Finance to validate cost assumptions.

Review and improve costing methodology based on actual production data.

7. Costing Database & MIS

Maintain updated part costing database and standard cost information.

Maintain costing sheets, drawings, BOM references, supplier quotations and price comparisons.

Prepare reports on part cost, supplier price, cost reduction and cost variances.

Ensure proper documentation and revision control of costing data.

Preferred candidate profile

- 36 years of experience in manufacturing/engineering industry
- Experience in product costing, manufacturing costing, quotation analysis and vendor costing.
- Experience in machine/components/automotive/engineering products would be an advantage.

📌 Costing Engineer (Pune)
🏢 Pratham Technologies
📍 Pune