Senior Costing Engineer – Casting & Machining – Manufacturing

Position Title: Senior Costing Engineer – Casting & Machining

Department: Engineering / New Product Development

Reports To: Head – Strategic Sourcing

Job Summary:

The Senior Costing Engineer is responsible for estimating and calculating the component cost & development cost of sourcing/ component development of castings / machined components. This role requires deep understanding of various casting processes, foundry processes and detailed machining operations and costing. Additional requirements include evaluating raw materials, labor, overheads, tooling, and production processes to determine the most accurate and competitive cost estimates. The Castings Costing Engineer works closely with Design (NPD) and Sourcing (Procurement) teams to ensure cost-effective production methods and to support pricing decisions and cost control initiatives.

Key Responsibilities:

1. Cost Estimation Analysis:

– Calculate and provide accurate cost estimates for metal (Ferrous and Non-Ferrous) Castings and Machined components for NPD and existing components projects, including detailed breakup of casting cost, processing cost, machine time, tooling, and overheads.

– Develop cost models for various casting processes (e.g., sand casting, die casting (GDC, PDC), investment casting) and materials including Bar Stock.

– Prepare cost breakdowns for production batches and new product designs.

– Collaborate with the design and production teams to understand design specifications, material requirements, and production processes and produce initial feasibility reports.

– Work closely with Procurement teams to compare commercial quotations received from casting foundries and machine shops.

2. Data Management:

– Maintain detailed records of cost estimations, historical data, and cost models for different casting projects.

– Update cost databases regularly to ensure the latest data for material and market pricing is used for accurate estimations.

– Track and compare actual procurement costs against estimated costs to identify cost saving opportunities.

3. Cost Control Optimization:

– Work with procurement teams to identify areas of inefficiency and recommend cost- saving solutions without compromising quality.

– Suggest process changes or alternative methods on casting costs and machining process and recommend improvements.

4. Tooling Equipment Costing:

– Evaluate and provide cost estimates for tooling, Molds, and other equipment required for casting production.

– Assess the amortization of tooling costs based on production volumes and recommend cost-effective tooling options.

5. Supplier Discussions:

– Work closely with suppliers to obtain cost information on raw materials and consumables used in casting production.

– Evaluate material costs and recommend substitutions that can reduce costs while maintaining quality standards.

Required Qualifications Skills:

Education:

– Bachelor’s degree in Mechanical/ Metallurgical Engineering, Industrial Engineering, Materials Science, or a related field.

Experience:

– At least 5 years of experience in cost estimation, costing, within the metals commodity and casting or manufacturing industry.

– Strong knowledge and deep understanding of casting methods and materials (e.g., sand casting, die casting, investment casting).

– Experience in working with costing foundry or OEMs in Castings and Forging Commodity costing estimation.

– Experience in managing cost data and BOM data.