What are the responsibilities and job description for the Cost Estimator position at Rico Manufacturing?
Estimates labor or total cost of customer products or services based on general data, drawings, verbal instructions, previous cost data, and knowledge of processes. Prepares bids for contracts, sets sale prices or determines selection of product design. Determines kind and number of workers or combination of products or services to meet customer needs as required. Follows up to ensure that goods or services are delivered.
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Cost Estimation · Collaborate with cross-functional teams, including engineering, production, and procurement, to gather information and data required for accurate cost estimation. · Utilize historical data, industry benchmarks, and market trends to develop comprehensive cost estimates for new and existing products. · Apply appropriate cost estimation methodologies and tools to ensure accuracy and reliability in cost projections. Value Engineering · Evaluate manufacturing processes, materials, and design specifications to identify opportunities for cost optimization while maintaining quality standards. · Collaborate with engineering teams to recommend alternative approaches that enhance cost-effectiveness without compromising product integrity. Cost Analysis and Reporting · Collect, compile, and analyze cost data from various departments, including production, procurement, inventory, and operations. · Prepare detailed cost reports and variance analyses, comparing actual costs against budgeted or projected costs. · Identify cost-saving opportunities, process improvements, and areas of cost overruns, presenting findings to relevant stakeholders. Vendor and Supplier Collaboration · Work closely with procurement teams to obtain accurate supplier quotes and negotiate pricing for components, materials, and services. · Maintain relationships with vendors to ensure consistent and competitive pricing for cost estimation purposes. Data Management and Documentation · Maintain an organized database of cost estimation data, historical cost information, and relevant documentation. · Ensure the accuracy and integrity of cost-related data in various systems and tools. · Update standard cost book data quarterly. · Ensure requests for estimates and other helpdesk requests are responded to in the allotted amount of time. KPI Reporting Budget Variance · This KPI compares actual expenses to the budgeted amounts for trucks. Positive variances indicate that actual costs are lower than budgeted, while negative variances indicate higher costs. · Overall truck budget variance will be a monthly KPI. Per model basis will be a quarterly KPI. Labor Cost as a Percentage of Total Cost · Labor Cost as a Percentage of Total Cost · This KPI assesses the direct labor costs associated with producing each truck. · It helps in understanding the labor efficiency and its impact on the cost structure. · Overall labor cost as a percentage of total cost will be a monthly KPI. Per model basis will be a quarterly KPI. Material Cost as a Percentage of Total Cost · Material Cost as a Percentage of Total Cost · This KPI evaluates the proportion of total costs attributed to materials. · It helps in identifying the impact of material cost fluctuations on overall expenses. · Overall material cost as a percentage of total cost will be a monthly KPI. Per model basis will be a quarterly KPI. Cost Savings Achieved · Tracking the actual cost savings achieved through cost-cutting initiatives or process improvements. · Overall cost savings achieved will be a monthly KPI. Per model basis will be a quarterly KPI. |
