COSTING ENGINEER

COSTING ENGINEER (3 5 YEARS EXPERIENCE)

Position Title: Costing Engineer

Department: Costing Estimation / Engineering

Experience Required: 3 5 Years

Industry Preference: Material Handling Equipment Manufacturing / Engineering

Role Overview:

The Costing Engineer will be responsible for preparing accurate cost estimates for material handling equipment, fabrication items,

installation works, and related engineering projects. The role requires solid understanding of mechanical electrical drawings,

manufacturing processes, BOM-based costing, market price benchmarking, and project budgeting. The individual will collaborate with

Design, Procurement, Production, and Sales to ensure cost competitiveness and profitability.

Key Responsibilities:

• 1. Product Project Costing:

  Develop detailed cost estimates for material handling equipment and engineered components.

  Evaluate Bill of Materials (BOM) against current market pricing and vendor quotations.

  Analyze material consumption, process times, and manufacturing cost variables to arrive at accurate cost projections.

• 2. Drawing Specification Study:

  Interpret mechanical and electrical drawings, GA drawings, fabrication drawings, and technical specifications.

  Identify material requirements, fabrication processes, machining needs, assembly operations, and electrical component selection based on drawings.

• 3. Market Evaluation:

  Conduct market research for raw materials, bought-out items, electrical components, and fabrication elements.

  Benchmark vendor and subcontractor pricing to maintain competitive and realistic cost structures.

  Maintain updated cost databases for materials, consumables, and standard equipment.

• 4. Process Manufacturing Cost Assessment:

  Evaluate costs associated with powder coating, painting, fabrication, machining, welding, surface treatment, and other manufacturing processes.

  Calculate man-hours, machine operating costs, overheads, tooling costs, and quality cost implications.

  Validate internal and subcontracting cost sheets and negotiate cost benchmarks where required.

• 5. Installation Costing Budgeting:

  Estimate site installation costs including manpower, consumables, logistics, tools, and safety requirements.

  Prepare project cost budgets, installation schedules, and feasibility cost reports.

  Support project planning teams with installation cost inputs and budgetary estimations.

• 6. Cost Control Optimization:

  Recommend cost reduction methods through design optimization, material substitution, and process improvements.

  Support procurement in vendor evaluations and negotiations from a cost analysis perspective.

  Provide costing support during technical and commercial bidding.

• 7. Documentation Reporting:

  Prepare costing sheets, price models, budgetary reports, and process cost summaries.

  Present comparison of estimated vs. actual costs and identify cost variances.

  Maintain standardized costing templates, guidelines, and cost libraries.

Required Skills Competencies:

Strong knowledge of material handling equipment manufacturing processes.

Ability to read and interpret detailed mechanical and electrical engineering drawings.

Good understanding of fabrication methods, machining, surface treatments, powder coating, and painting processes.

Expertise in BOM preparation, price benchmarking, and market rate analysis.

Familiarity with installation activities, manpower estimates, and project budgeting.

Proficiency in MS Excel or costing software (ERP experience preferred).

Analytical mindset with strong attention to detail.

Good communication and coordination skills across design, procurement, and production functions.

Education Qualification:

Bachelor s Degree / Diploma in Mechanical Engineering, Industrial Engineering, or related field.

Disclaimer: This job posting has been aggregated from external source. Role details, content, and availability are subject to change. Applicants are advised to confirm the latest information directly on the company website before applying.