Job Summary
1. Cost Estimation: Accurately estimate the costs of machinery, parts, and production processes, considering factors such as materials, labor, machine time, overheads, and transportation etc.
2. Vendor Liaison: Collaborate with suppliers and vendors to obtain quotes for machinery, parts, and equipment, ensuring the estimates reflect the most competitive and accurate pricing.
3. Data Analysis: Analyze historical data, industry trends, and product specifications to determine cost structures and potential savings.
4. Costing Models: Develop and refine costing models and pricing strategies to ensure profitability while maintaining competitiveness in the market.
5. Collaboration: Work closely with engineering, design, and procurement teams to ensure that cost estimates align with project budgets, timelines, and technical requirements.
6. Report Preparation: Prepare detailed cost estimation reports and presentations for management, highlighting potential risks, cost drivers, and opportunities for cost reduction.
7. Risk Management: Identify cost risks and suggest mitigation strategies to ensure that projects stay within budget and meet financial goals.
8. Continuous Improvement: Stay updated with the latest technologies and industry practices to enhance cost estimation processes and tools.
9. Budget Support: Assist project managers and financial teams in developing and managing budgets for machine acquisition and production processes.