Job Description
Job Description
Costing Manufacturing Engineer
About the Role:
The Costing Manufacturing Engineer is responsible for developing accurate cost estimates during the quoting process for new products and maintaining standard costs for existing production lines. This role combines engineering, analysis, and financial acumen to ensure reliable cost forecasting and process optimization. Working collaboratively with cross-functional teams, the Costing Manufacturing Engineer drives cost efficiency, supports pricing decisions, and contributes to operational improvement initiatives across manufacturing operations.
Responsibilities:
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Develop detailed cost estimates for new and existing products, incorporating labor, materials, tooling, and equipment expenses.
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Maintain and update standard costs in ERP systems to ensure ongoing accuracy and compliance with financial objectives.
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Analyze engineering drawings, technical documents, and vendor quotes to create comprehensive cost models.
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Track and report actual production costs versus estimates, investigating variances and implementing corrective actions.
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Identify opportunities for cost reduction and process improvement through data-driven analysis.
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Collaborate with Engineering, Procurement, Project Management, and Operations to ensure alignment on cost and production targets.
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Conduct risk assessments to identify potential cost uncertainties and incorporate them into cost models.
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Support continuous improvement initiatives using Lean Manufacturing and statistical analysis tools.
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Provide cost analysis and reporting to management for strategic decision-making.
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Lead or support projects focused on process optimization, efficiency, and profitability improvement.
Qualifications:
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Bachelors degree in Manufacturing, Mechanical, or Industrial Engineering, or a related discipline, or equivalent experience.
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5 to 7 years of experience in cost engineering, estimating, or manufacturing operations.
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Proficiency in ERP systems (such as Syteline), Microsoft Excel, Outlook, and MS Project.
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Strong analytical, mathematical, and problem-solving abilities.
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Experience with manufacturing processes such as metal stamping, heat treating, plating, welding, assembly, and CNC machining.
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Excellent written and verbal communication skills.
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Proven ability to work cross-functionally in a fast-paced, deadline-driven environment.
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Strong attention to detail and ability to manage multiple priorities effectively.
Desired Qualifications:
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Proficiency with CAD software such as SolidWorks for technical data interpretation.
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Experience with Lean Manufacturing principles, Six Sigma, or cost optimization methodologies.
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Familiarity with cost modeling, variance analysis, and financial reporting tools.
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Demonstrated success implementing process improvements that reduce waste and enhance cost efficiency.
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Ability to apply statistical analysis to production data for forecasting and performance tracking.