The Should Costing Specialist is responsible for developing detailed cost models for components, assemblies, and systems, providing fact-based cost transparency to support supplier negotiations, and driving cost optimization across the organization. The role works cross-functionally with Procurement, Engineering, Production and Finance teams to enable informed decision-making and promote cost awareness.

1. Should Cost Analysis

• Develop and maintain should-cost models for components, assemblies, and systems.

• Analyze material costs, manufacturing processes, labor, tooling, logistics, and overheads.

• Use industry benchmarks, market analysis, and cost databases to derive accurate cost estimates.

2. Support for Supplier Negotiations

• Identify cost drivers and cost-saving opportunities in supplier quotations.

• Provide detailed cost breakdowns to support procurement in negotiation strategies.

• Participate as a technical cost expert in supplier discussions, when required.

3. Cost Transparency & Reporting

• Compare supplier prices and actual costs with internal target costs.

• Highlight deviations and conduct root cause analysis for cost variances.

• Prepare clear reports, cost comparison charts, and presentations for management and internal stakeholders.

4. Cross-Functional Collaboration

• Collaborate closely with Procurement, Engineering, Production, and Controlling teams.

• Support decisions related to supplier selection, make-or-buy analysis, and technology choices.

• Act as an internal consultant on cost-related topics.

5. Data Management

• Develop and maintain a centralized cost database for reference and future use.

• Ensure consistent documentation of calculation methods, assumptions, and results.

• Provide regular cost reporting and KPIs to management and stakeholders.

6. Continuous Improvement

• Identify and implement best practices in should costing and cost transparency.

• Drive cost optimization initiatives and promote cost awareness across departments.

• Conduct internal training sessions on cost calculation and cost-saving methodologies.

• Bachelor’s Degree in Mechanical Engineering, Industrial Engineering, or equivalent.

• 3-7 years of experience in cost engineering, should costing, value analysis, or manufacturing engineering.

• Mandatory software knowledge: TCPCM (Teamcenter Product Cost Management) – hands-on experience in building cost models using TCPCM is required.

• Strong understanding of manufacturing processes (machining, fabrication, casting, sheet metal, etc.).

• Solid knowledge of cost elements in materials, process times, logistics, tooling, and overheads.

• Proficiency in MS Excel and ERP systems (e.g., SAP).

• Strong analytical skills with ability to interpret cost data and present findings.

• Effective interpersonal and communication skills, with the ability to work cross-functionally.

• Experience supporting supplier negotiations or procurement is an added advantage.