Product costing

Role & responsibilities

• Prepare product cost estimates for new and existing products based on BOM, drawings, specifications and manufacturing processes.
• Calculate material, labour, machine/process and manufacturing overhead costs.
• Develop and maintain standard product costing in ERP/SAP systems.
• Analyse actual vs. standard cost and identify major cost variances.
• Work closely with Design/NPD and Production teams during new product development to ensure cost-effective designs.
• Evaluate the cost impact of changes in raw materials, components, processes and product specifications.
• Support cost reduction, value engineering and VA/VE initiatives.
• Coordinate with Purchase to validate raw material and component prices.
• Study manufacturing processes, cycle times, machine utilisation and routing to improve cost accuracy.
• Prepare costing for customer quotations / new product proposals, wherever applicable.
• Maintain accurate costing master data, BOM and routing-related information.
• Provide costing inputs to Finance for pricing, profitability and financial analysis.
• Prepare periodic costing and cost analysis reports for management.