Costing Engineer
3 days ago
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Professional Technologist | Driving Growth & Operational ExcellenceA Costing Engineer is responsible for analyzing, estimating, and managing the costs of a project, product, or service to ensure profitability and cost efficiency. They work across industries such as manufacturing, construction, automotive, and engineering.
Key Responsibilities of a Costing Engineer
- Develop accurate cost estimates for products, projects, or services.
- Analyze material, labor, and overhead costs to determine total cost structure.
- Conduct cost-benefit analysis to optimize pricing and profitability.
- Prepare costing sheets and pricing structures for tenders, proposals, and quotations.
- Work closely with sales and procurement teams to determine competitive pricing.
- Ensure compliance with customer and industry pricing requirements.
Product Cost Breakdown & Budgeting
- Provide a detailed breakdown of costs, including raw materials, labor, tooling, logistics, and overhead.
- Assist in budgeting and financial planning for new projects and cost reduction initiatives.
- Identify cost-saving opportunities without compromising quality or performance.
- Work with procurement and supply chain teams to analyze supplier pricing.
- Negotiate better cost structures with vendors and contractors.
- Evaluate and compare quotations to ensure cost competitiveness.
Manufacturing & Process Cost Optimization
- Collaborate with engineering, production, and development teams to optimize production costs.
- Analyze and suggest improvements to manufacturing processes to enhance cost efficiency.
- Monitor variances between estimated and actual costs to improve future cost forecasting.
Reporting & Documentation
- Prepare cost reports, financial models, and presentations for management review.
- Maintain accurate cost records and update databases with the latest cost structures.
- Ensure compliance with company policies, industry regulations, and financial guidelines.
Entry level
Employment typeFull-time
Job functionEngineering and Information Technology
IndustriesManufacturing
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