Cost Engineering Manager

What You Can Expect

The Cost Engineering Manager plays a critical role in estimating, budgeting, and developing cost insights into direct and indirect products and services. Using engineering principles and input costs as the basis, the Cost Engineering Manager develops cost models, tracks spending, identifies savings, and provides financial reports to stakeholders, acting as a crucial financial navigator for technical projects and negotiations.

Work Location: Bangalore
Work Mode: Hybrid (3 Days in office)

How You'll Create Impact

• Develop cost models and detailed cost break up for product, services with detailed insights into labor, materials, transportation and overhead cost buckets.
• Use raw materials standard market bench marking, manufacturing processes costs including capital equipment, consumables, utilities and other investments, overheads, labor, and transportation services.
• Identify opportunities for cost improvement with external suppliers and service partners and develop broad road maps for product/service costs along with commercial and contractual terms including costs.
  Develop zero-based costing or “Should Costing” for Zimmer Biomet products and services that can become reference costs for product launch, negotiations, and product pricing.
• Build dashboards and models to track Cost Model development and “Should Cost” progress.
• Develop market intelligence for competitive products, develop cost models from tear down, and re-engineering for competition products.
• Develop Zimmer Biomet products benchmark costing for products and services based on competition and industry trends.
• Develop data analytics for commodity costs databases, trend trackers, labor markets costs data models for each region and freight, logistics costs models for Zimmer Biomet products, and services.
• Develop, deploy, and document cost management standards, procedures, and templates for using across organizations globally.
• Partner with Category Managers, Legal, and Finance to prepare for high-impact negotiations.
• Collaborate with Finance for product costs roll ups and budgeting.
• Support automation and digital tools that enhance cost engineering efficiency and transparency.
• Ensure cost engineering practices align with internal policies and external regulatory requirements.
• Maintain documentation and audit trails for strategic negotiations.
• Prepare reports, presentations, business communications, data summaries, and other documents of both a recurring and nonrecurring nature.
• Create reports to show financial impact of procurement projects and initiatives.
• Perform moderately complex analyses of data to draw inferences or conclusions to drive sound decisions.
• Collaborate actively with key stakeholders to ensure Procurement is actively engaged at the beginning of the process in core business initiatives and processes.

What Makes You Stand Out

• “Should Costing” development for major cost driver products and services.
• The Cost Engineering Manager will be actively involved in Negotiation Excellence with Supply partners, with new product development teams for developing new products, and with Procurement for current revenue products.
• The relationship between this role, Procurement senior leadership, Procurement team members, and cross-functional stakeholders will be working well with no confusion regarding roles and responsibilities.
• Well-defined competition, industry, and market benchmarks for Zimmer Biomet products.
• Data analytics available in the form of Power BI and/or reports for various commodity trends, labor, and freight markets applied to Zimmer Biomet products with agility for changing and dynamic markets. 
• Well-defined Cost Models at Zimmer Biomet Procurement Leadership level, Category level, and at key supplier level as well as sharing with suppliers to challenge status quo costs for cost productivity.
• Performance internal metrics and supporting data collection processes will be actively monitored and viewed as credible and accurate.

Your Background

Technical Skills:
•    Cost Engineering / Should Costing
•    Cost modeling (Cost Estimation, Product Costing, Cost Analysis, Cost Reduction, Margin Analysis, Conversion Cost, Overheads / Labor Costing)
•    Supplier costing & negotiations
•    Experience in Procurement / sourcing / supply chain combined with costing expertise
•    Knowledge of Manufacturing processes, Cost structures & industry standards & Labor, overheads, conversion cost calculations
•    Experience working on Costing Software – Any like A-Priori, FACTON EPC Suite, Microsoft excel based Costing templates, Teamcenter Cost management etc
 
Expected Areas of Competence (i.e., knowledge, skills, and abilities):

•    Knowledge of Mechanical and/or electronics manufacturing processes.
•    Knowledge of Manufacturing costs, industry standards, regulations.
•    Knowledge of costing methodologies, taxation, and transportation costs with understanding of overheads and capex impact on product costings.
•    End to End understanding of commercial and contractual terms and its impact on product/service costs.
•    Strong behavioral aspects such as collaboration, ability to challenge, deal-making, and ability to find win-win solutions with active listening and attention to details.
•    Strong analytical skills. Attention to details and the ability to connect dots.
•    Strong track record in Procurement, Category Management, and Contract Management.
•    Ability to engage and influence and facilitate internal business partners and team members at all levels of the organization. Ability to establish relationships quickly with a broad range of constituents. Must possess a collaborative style to work effectively throughout the organization.
•    Excellent written, presentation, and communication skills with the ability to articulate complex ideas clearly and persuasively to diverse audiences at various organizational levels.
•    Proficient with Microsoft Office and related software. Strong skills in working with Excel, database software, Costing software like a-Priori or FACTON EPC suite, BI tools (Power BI, Tableau), ERP systems (specifically SAP), and statistics.
•    Excellent time management skills with a proven ability to meet deadlines.
•    Demonstrated history of taking initiative, meeting commitments, and assisting in the creation of new tools or solutions to achieve business results. 
•    Proven track record of effective process management and improvement. 
•    Ability to tolerate ambiguity, handle multiple priorities, and identify creative solutions to problems.
•    Financial acumen with a solid understanding of common financial statements.
•    High level of personal accountability and integrity.
•    Energetic and driven to successfully reach objectives
•    Proficient with and/or the ability to quickly learn Zimmer Biomet’s systems.
•    Knowledge of functional best practices, industry trends, legal and regulatory requirements, and emerging technologies.

Education/Experience Requirements:

•    Bachelor’s Degree in Mechanical Engineering or Electronics Engineering (with Master’s Degree preferred supply chain, Economics, Business, Finance, or a related field).
•    At least ten years of progressive experience in Procurement, Sourcing, or Supply Chain analytics required.
•    Experienced in managing large, complex, and global environments and suppliers in diverse cultural environments.
•    Understanding of Procurement best practices, contract law, and supplier risk management.
•    Strong track record in Procurement, Category Management, Contract Management, and Negotiation.
•    Professional, related certification is preferred.

Travel Expectations

Must possess the ability to travel on a regular basis with overnight stays up to 20%. Occasional global travel may be required.