Costing Engineer – Forging Industry

1. Cost Analysis & Estimation:

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

2. Cost Monitoring & Control:

• Monitor production costs daily/monthly and identify variances against standard or estimated costs.
• Investigate deviations and recommend corrective actions to minimize wastage and inefficiencies.
• Collaborate with production and procurement teams to track cost-saving opportunities.

3. Budgeting & Forecasting:

• Support the preparation of plant budgets, forecasts, and financial planning.
• Track actual vs. budgeted costs and provide variance reports.

4. Profitability Analysis:

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

5. Process Improvement & Cost Optimization:

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