Role Summary: This role involves estimating costs associated with manufacturing processes, including materials and labor and other expenses. It requires a strong understanding of manufacturing processes, routing, material and technical specifications, and commercial aspects such as vendor capabilities and raw material costs. The ideal candidate should have a keen eye for detail, strong analytical skills, and the ability to collaborate effectively with all departments and Interco as required.
Responsibilities:
* Estimate comprehensive product cost based on materials, Labor and subcontract expenses * Review product specifications and requirements, ITP and prepare and update routing for production processes to determine accurate costing. * Prepare detailed reports and presentations on cost estimates for stakeholders * Review and initiate updation of material standard costs in SAP ERP. * Analyze cost data and provide recommendations for cost optimization and manufacturing process improvements to ensure consistency and transparency. * Knowledge on additive manufacturing, Casting/Forging, and Machining process will be an added advantage. * Implement and monitor cost variance, cost-saving initiatives and best practices. * Stay up to date on market trends and fluctuations in the cost of raw materials. * Set up cost monitoring and reporting systems and procedures and monitor trends. * Prepare actual cost and expenditure statements, reports and other necessary documentation at regular intervals to share with relevant stakeholders. * Co-ordinate with supply chain teams to negotiate favorable terms with suppliers. * Maintain documentation of all cost estimation activities and data. * Assess cost effectiveness of products and track actual costs relative to budget and report status on a regular basis to ensure costs are in line with forecasts
Preferred Experience / Skills:
* Degree: Engineering in Mechanical/ Production Engineering. * Experience: 5+ years of experience in project cost estimation in automotive industry and manufacturing/engineering environment. * Thorough knowledge of manufacturing processes, routing, material specification and quality requirements. * Strong commercial acumen with experience in vendor management and raw material sourcing. * Proficiency in cost estimation and scientific analysis tools. * Results orientated and organized with the ability to plan and deliver against deadlines * Excellent analytical and problem-solving skills. * Strong communication and interpersonal skills. * Experience of delivering results through cross-functional working * Proficient in SAP ERP, Power BI and Microsoft Office- Excel.