Cost Analyst

Job Title: Costing Analyst

To drive accurate and timely costing for RFQs and New product development (NPD), business cases, and existing product portfolios across all VEL BU(EBU/PBU/MBU) plants, enabling informed decision-making, price setting, and profitability improvement.

1. Product Costing & NPD Support

• Deliver accurate product costing for RFQ/NPD projects to support Quote to customer and NPD profitability

2. Business Case Evaluation

Finance Controller- Program Management

Costing Analyst

• Analyse financial viability of new products, changes, and initiatives to drive profitable business outcomes.

3. Cost Variance Analysis

• Monitor and analyse cost variances to support operational efficiency improvements.

4. Cross-Functional Collaboration

• Partner with Engineering, Procurement, SCM, and Plant teams to ensure accurate inputs for costing and NPD decisions.

6. Cost Optimization Initiatives

• Identify cost-saving opportunities in materials, processes, and design to support margin improvement.

7. Compliance & Data Integrity

• Ensure SAP/ERP data accuracy for BOMs, routing, cost centers to maintain correct costing and financial reporting.

Prepare and validate costing sheets for RFQ/NPD and business cases.

Coordinate with Engineering and SCM to validate BOM, routing, and landed cost assumptions.

Track changes in Selling Price, material prices, labour rates, and overheads.

Run simulations for pricing decisions.

Maintain accurate costing master data for business case assumptions.

Support internal/external audits for costing.

5. MAJOR CHALLENGES

Ensuring timely data availability from crossfunctional teams.

Maintaining costing accuracy across multiple plants and product portfolios.

Pricing decisions where margin thresholds are not met.

Significant deviations in business case assumptions.

Approval of changes impacting costing methodology or overhead structure.

Average target margin / IRR thresholds: Meet threshold IRR

Cost savings enabled via should-cost and re-pricing: 10% RMC to Sales (post award)

6. SKILLS AND KNOWLEDGE

• Knowledge of NPD costing
• Proficiency in SAP/ERP
• advanced Excel
• financial modelling
• Strong analytical,