Costing Engineer - Forging Industry

Key Responsibilities:

Cost Analysis & Estimation

• Prepare detailed cost estimates for forging and casting parts considering raw materials, labor, tooling, machine time, and overheads.
• Analyse product drawings, process flows, and BOMs (Bill of Materials) to identify cost drivers.
• Develop cost models for new parts or process changes.

Cost Monitoring & Control

• Track production costs daily/monthly and identify variances against standard or estimated costs.
• Investigate deviations and recommend corrective actions to reduce wastage and inefficiencies.
• Collaborate with production and procurement teams to implement cost-saving measures.

Budgeting & Forecasting

• Assist in preparing plant budgets, forecasts, and financial planning.
• Monitor actual vs. budgeted costs and provide variance reports.

Profitability Analysis

• Conduct product-wise, customer-wise, and process-wise profitability analysis.
• Support pricing decisions by providing cost and margin insights.

Process Improvement & Cost Optimization

• Identify opportunities for cost reduction in materials, processes, and supply chain.
• Participate in value engineering, lean manufacturing, and Six Sigma initiatives.

6. Reporting & Documentation

• Maintain accurate cost records and documentation for audits and management reporting.
• Prepare periodic cost reports, dashboards, and MIS as required.