Position Summary

Provide accurate, timely, and insightful product and project cost information to support profitable growth and operational excellence. The Costing Engineer is responsible for developing and maintaining cost models, standard costs, and cost analyses for parts, assemblies, and projects, ensuring that quotations, design decisions, sourcing choices, and continuous improvement initiatives are based on robust financial data. Working closely with Engineering, Operations, Supply Chain, Finance, and Sales, the role translates technical and process information into clear cost impacts, identifies cost reduction opportunities, and helps safeguard margins while maintaining Parker’s quality and service commitments

Responsibilities

• Product & Project Cost Estimation- Cost break down into material, labor, overhead, subcontracting, tooling, and logistics.
• BOM & Routing Cost Analysis – Review and validate Bills of Materials and routings from Engineering/Operations.
• Make-or-Buy and Value Analysis - Support VA/VE (Value Analysis / Value Engineering) initiatives to reduce cost while maintaining performance and quality; Identify high-cost components and propose design or sourcing alternatives.
• Support for Pricing & Quotation- Provide cost breakdowns to Sales, Program Management, and Product Management for pricing decisions.
• Cost Tracking & Variance Analysis-Compare standard cost vs. actual cost and explain variances (material price, usage, scrap, labor efficiency, overhead absorption).
• Continuous Improvement & Productivity Projects - Quantify cost impacts of Kaizen, Lean, and Six Sigma projects (labor reduction, scrap reduction, process changes, automation).
• Supplier Cost Collaboration -Analyze supplier quotations and cost breakdowns; support sourcing and negotiations.
• Benchspan internal vs. external cost and identify improvement opportunities with suppliers.
• Support dual-sourcing or re-sourcing business cases with robust cost models.
• Tooling & Capital Costing - Estimate costs for tooling, fixtures, and capital equipment related to new programs.
• Data Management & Costing Systems - Maintain accurate cost data in ERP/PLM systems for parts, assemblies, and routings.

Qualifications

Qualifications

• Engineering Graduate with more than 5 years of experience in Automotive OEM or Tier I Suppliers
• Written, verbal, and interpersonal, communication skills for effective interface with all internal and external contacts
• Ability to study supplier quotation & close for a competitive commercial
• Raw Material & manufacturing process analysis on the commercial angle
• First principle cost working, Linear Price Parity analysis
• Negotiation Skills, Commercial Acumen
• Technical & Product Understanding, Analytical & Problem Solving Skills
• Project costing & Knowledge on various costing models & techniques