Costing Manager

About SKF

SKF started its operations in India in 1923. Today, SKF provides industry leading automotive and industrial engineered solutions through its five technology-centric platforms: bearings and units, seals, mechatronics, lubrication solutions and services. Over the years the company has evolved from being a pioneer ball bearing manufacturing company to a knowledge-driven engineering company helping customers achieve sustainable and competitive business excellence.

 

SKF’s solutions provide sustainable ways for companies across the automotive and industrial sectors to achieve breakthroughs in friction reduction, energy efficiency, and equipment longevity and reliability. With a strong commitment to research-based innovation, SKF India offers customized value-added solutions that integrate all its five technology platforms.

To know more, please visit: www.skf.com/in

 

SKF India has been recognized as a “Top Employer 2024” by the Top Employers Institute, acknowledging excellence in People Practices.

To know more, please visit: https://www.skf.com/in/news-and-events/news/2024/2024-01-18-skf-india-recognized-as-top-employer-2024-by-top-employers-institute

 

About Automotive

SKF is a leading global supplier in the automotive industry, providing solutions for various applications such as wheel end, powertrain, driveline, and suspension. SKF’s automotive business is focused on delivering innovative solutions to OEMs and the aftermarket. The company has a strong presence in the automotive market, with a range of products and services designed to improve performance, reduce friction, and increase efficiency. SKF’s automotive business is constantly evolving to meet the changing needs of the industry, with a focus on sustainability, electrification, and digitalization.

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SKF Purpose Statement

Together, we re-imagine rotation for a better tomorrow.

By creating intelligent and clean solutions for people and the planet

 

 

JOB DESCRIPTION

 

 

Job Title:                  Should Costing Manager

Reports To:              Head Product line

Role Type:                Individual Role

Location:                  Pune / Bangalore

 

MAIN PURPOSE OF THE POSITION
The Should Costing Analyst will play a critical role in analyzing and optimizing product costs through comprehensive should-cost analysis. This position requires strong analytical skills, attention to detail, strong manufacturing process knowledge and the ability to collaborate effectively with cross-functional teams.

Conduct Should-Cost Analysis: Analyze the cost components of products, materials, and services to determine should-cost estimates based on factors such as raw material prices, manufacturing processes, labor costs, and overhead expenses.
Cost Modeling: Develop and maintain cost models to accurately estimate the cost of products throughout their lifecycle, including prototyping, production, and post-production phases.
Identify Cost Optimization Opportunities: Identify opportunities to optimize costs through value engineering, process improvements, supplier negotiations, and alternative sourcing strategies.
Collaborate with Cross-Functional Teams: Work closely with engineering, procurement, manufacturing, suppliers, and finance teams to gather relevant data, validate assumptions, and recommend cost-saving initiatives.
Monitor Cost Performance: Track and monitor actual costs against should-cost estimates, identifying and communicate variances.
Continuous Improvement: Drive continuous improvement initiatives related to cost analysis methodologies, tools, and processes to enhance accuracy, efficiency, and effectiveness.
ORGANISATION OF THE DIV / DEPT
The position belongs to the Automotive ISEA and reports to the Director -Automotive OE Business ISEA

 

GENERAL CHARACTERISTICS OF THE POSITION / CANDIDATE PROFILE
Bachelor’s degree in mechanical engineering, Business Administration, Finance, or related field. Advanced degree or relevant certifications (e.g., Certified Cost Estimator/Analyst) preferred.
10 to 15 years of experience in cost analysis, should costing, or related fields, preferably in Auto  / Auto component industry.
Strong analytical skills with proficiency in quantitative analysis, financial modeling, and data interpretation.
Proficient in manufacturing processes like forging, machining, stamping and die casting, turning, honing, grinding, rubber and plastic molding, assembly and inspection.
Expertise in cost estimation techniques, including should-cost modeling, bottom-up estimating, analogous estimation, activity based cost estimation and parametric estimating.
Excellent communication and interpersonal skills with the ability to effectively collaborate and influence stakeholders at all levels.
Proficiency in Microsoft Excel, cost modeling software, and ERP systems.
Proven track record of driving accurate cost estimation and cost-saving initiatives and achieving measurable results.
DESCRIPTION OF THE ACTIVITIES
Regular review of the current cost structure for both existing and new parts and evaluate the actual cost through should costing models.
Engage with manufacturing, suppliers, tool manufacturers to process and cost optimization to improve cost levels
Closely work with Sales and Business development team to support pricing and profitable business proposals.
Review non profitable parts and evaluate and propose cost optimization actions and proposals to relevant teams in FVC.
Develop a robust cost estimate model factoring past sales / price data and market information.
Regularly update leadership team on the cost level progression and suggest cost improvement initiatives.
Metrics

Cost level optimization (Reduction in MCL)
Product line profitability improvement
Interested candidate/s can share their resume to [email protected]

 
About SKF

SKF has been around for more than a century and today we are one of the world’s largest global suppliers of bearings and supporting solutions for rotating equipment. With more than 40,000 employees in around 130 countries, we are truly global. Our products are found everywhere in society. In fact, wherever there is movement, SKF’s solutions might be at work. This means that we are an important part of the everyday lives of people and companies around the world. See more, at www.skf.com.