We are seeking a highly analytical Mechanical Cost Engineer to conduct detailed cost analysis for manufacturing processes and components. You will be responsible for developing should-cost models, evaluating supplier quotations, and performing comprehensive spend analysis to identify cost-saving opportunities. This role requires a strong understanding of manufacturing processes and engineering materials, along with excellent communication and negotiation skills to collaborate with suppliers and internal stakeholders.
Roles & Responsibilities:
- Conduct detailed cost analysis for manufacturing Make as per Print parts and OEM/Commercial components.
- Develop should-cost models based on manufacturing processes, material usage, labor, tooling, and overhead.
- Evaluate supplier quotations to ensure cost competitiveness.
- Perform comprehensive spend analysis to identify cost-saving opportunities and trends.
- Support the development of procurement strategies by identifying high-spend areas and benchmarking costs.
- Utilize data analytics tools (e.g., Excel, Power BI) to provide insights and recommend improvements.
- Understand and analyze engineering drawings, specifications, and design requirements.
- Collaborate with design and engineering teams to ensure manufacturability and cost optimization.
- Identify opportunities for cost reduction without compromising quality or design integrity.
- Work closely with suppliers to analyze cost drivers, negotiate pricing, and validate supplier capabilities.
- Drive value engineering initiatives to enhance cost efficiency.
- Perform cost variance analysis and prepare detailed cost breakdowns for stakeholders.
- Maintain a database of standard costs for materials, processes, and components.
- Support procurement, sourcing, and supply chain teams with cost inputs.
- Engage in techno-commercial discussions and provide strategic support to supply chain leaders globally.
Skills Required:
- Strong understanding of manufacturing processes (CNC machining, Fabrication, casting, forging, sheet metal, Assembly, etc.) and engineering materials.
- Proficiency in reading and interpreting engineering drawings (GD&T knowledge is a plus).
- Familiarity with cost estimation tools and software.
- Knowledge of design processes and product lifecycle management (PLM).
- Excellent analytical and problem-solving abilities.
- Strong communication and negotiation skills.
- Ability to work independently and in cross-functional teams.
- Knowledge of industry standards and benchmarks.
- Exposure to global supply chains and cost structures.
- Experience in cost estimation, should-costing, spend analysis, or cost engineering, preferably in manufacturing or automotive industries.
QUALIFICATION:
- Bachelor's degree in Mechanical Engineering or a related field.
