Costing Engineer

Key Responsibilities

Product Costing

Prepare and maintain product cost sheets.

Calculate material, labor, overhead, and manufacturing costs.

Analyze BOM (Bill of Material) and routing for accurate costing.

Cost Analysis & Control

Monitor actual costs against standard/budgeted costs.

Identify cost variances and recommend corrective actions.

Track manufacturing cost trends and cost-saving opportunities.

Budgeting & Forecasting

Assist in preparation of annual budgets and cost forecasts.

Monitor departmental expenses against approved budgets.

Provide periodic cost reports to management.

Inventory Cost Management

Verify inventory valuation and costing methods.

Analyze stock variances, slow-moving, and obsolete inventory.

Support monthly and yearly stock audits.

Quotation & Tender Costing

Prepare cost estimates for new products and customer quotations.

Evaluate profitability of new projects and orders.

Support sales and business development teams with costing inputs.

Variance Analysis

Analyze material, labor, and overhead variances.

Investigate reasons for cost deviations.

Coordinate with Production, Purchase, and Stores departments for corrective actions.

MIS & Reporting

Prepare monthly cost reports and management dashboards.

Present profitability analysis by product, customer, or project.

Generate reports for management review and decision-making.

Process Improvement

Identify opportunities for cost reduction and productivity improvement.

Participate in Kaizen, Lean Manufacturing, and Value Engineering activities.

Support implementation of cost control measures across departments.

Compliance & Audit Support

Ensure compliance with company policies and accounting standards.

Provide required data during internal and external audits.

Maintain proper documentation related to costing activities.

Required Skills

Cost Accounting & Cost Control

Standard Costing and Variance Analysis

BOM & Routing Analysis

Budgeting and Forecasting

Advanced MS Excel

ERP Systems (SAP, Oracle, Microsoft Dynamics, etc.)

Strong Analytical and Problem-Solving Skills

Manufacturing Cost Management

Reporting

Reports To: Operation Head

Education & Experience

Diploma & BE - Mech

4–8 years of experience in Manufacturing Costing & Cost Control

Pay: ₹35,000.00 - ₹40,000.00 per month

Benefits:

Food provided

Health insurance

Provident Fund

Experience:

Product Costing: 4 years (Required)

Work Location: In person