Cost Engineering Manager

About the job

At Zimmer Biomet, we believe in pushing the boundaries of innovation and driving our mission forward. As a global medical technology leader for nearly 100 years, a patient’s mobility is enhanced by a Zimmer Biomet product or technology every 8 seconds. 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.

Requirements

• Cost modeling
• Data analytics
• Supplier costing
• Negotiations
• Financial reporting

Qualifications

• Bachelor’s Degree in Mechanical or Electronics Engineering
• 10 years in Procurement, Sourcing, or Supply Chain analytics

Preferred Technologies

• Cost modeling
• Data analytics
• Supplier costing
• Negotiations
• Financial reporting

About the company

At Zimmer Biomet, we believe in pushing the boundaries of innovation and driving our mission forward. As a global medical technology leader for nearly 100 years, a patient’s mobility is enhanced by a Zimmer Biomet product or technology every 8 seconds. We are committed to creating an environment where every team member feels included, respected, empowered, and recognised.