JOB DESCRIPTION: 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.
Contact Details:
Website: www.technovisionengrs.com
Apply Now: hr1@technovisionengrs.com
Contact: +91 8600188874