Costing Industrial Engineering
Expectations - Duties, Responsibilities
- Develop and maintain Bills of Manufacturing (BOMs): Analyze new product designs and manufacturing methods to create accurate BOMs, including materials, labor, and overhead. Define operations breakdown and identify all machines, tools, consumables, and equipment needed for production.
- Analyze cost variances and update cost data: Compare standard costs from BOMs with actual production costs to identify variances. Regularly revise BOMs based on findings and report variances to Sales and PD & E teams with a clear explanation of business impact.
- Support pricing and commercial decisions with accurate costing- data: Collaborate closely with the Sales team to provide cost-related inputs such as minimum order quantities (MOQ), surcharges, downpayments, and cost breakdowns for customer negotiations and internal decision-making.
- Identify and drive cost-saving initiatives: Propose and implement improvements in material usage, process efficiency, and production methods to reduce costs without compromising quality. Support cross-functional teams in validating raw material costs and standardizing production processes.
- Provide strategic costing support and maintain costing knowledge base: Conduct ROI studies, analyze factory cost structures, and provide cost advisory for strategic initiatives. Maintain detailed costing records, stay up to date with industry trends, and contribute to building a strong, knowledgeable costing function within PD & E.
- Degree in Industrial Engineering, Manufacturing, Business management, or a related field.
- Minimum of 3 years of experience in costing or industrial engineering, ideally in bags, accessories, or garment manufacturing.
- Strong analytical skills and advanced Excel proficiency
- Solid understanding of production processes and materials.
- Comfortable working across teams and clearly communicating cost insights.
