Costing / Pricing Analyst

ITT Inc. (NYSE: ITT) is a diversified global leading manufacturer of highly engineered critical components and customized technology solutions serving the flow, aerospace and defense, transportation, industrial, and energy markets. Through operational execution, innovation, and disciplined capital deployment, including strategic acquisitions such as SPX FLOW, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. 

Headquartered in Stamford, Connecticut, ITT has a market cap of roughly $20 billion and employs more than 15,000 people across 40 countries and serves customers in approximately 125 countries. Following the acquisition of SPX FLOW, the company is expected to generate $5.4 billion in annual revenue.

Our businesses are organized in three distinct segments, each based around our core engineering DNA: 

Flow Technologies: A global leader in, providing a broad portfolio of pumps, valves, mixing and agitation equipment, heat transfer, homogenizers, separation, water and wastewater treatment, and engineered process solutions. Our leading brands include the iconic Goulds Pumps (with more than 175 years of history), Anhydro, APV, Bornemann, Bran+Luebbe, C’treat, Engineered Valves, Gerstenberg Schröder, Habonim, Johnson Pump, Lightnin, Philadelphia, Plenty, PRO Cast, Rheinhütte, Seital Separation, Stelzer, Svanehøj, Tigerholm, Uutechnic, VIDAR, Waukesha Cherry-Burrell.

Motion Technologies: A global leader in brake pads (ICE and electrified brake pads) and shock absorbers (energy absorption solutions) for transportation applications. Our leading brands include Friction Technologies, KONI and Axtone.

Connect and Control Technologies: A leader in critical applications for the aerospace, defense and industrial markets, including harsh environment connectors and control components. Our leading brands include ITT Cannon, Enidine, Aerospace Controls and kSARIA. 

This position is responsible for preparing accurate, competitive, and commercially viable cost estimates for pumps, engineered packages, aftermarket opportunities, and project-based bids with minimal supervision. The role requires strong knowledge of centrifugal pump manufacturing, costing methodologies, sourcing strategies, technical specifications, and proposal development.

This position collaborates closely with Sourcing, Manufacturing, Engineering, and Quality Assurance teams to ensure the timely preparation and submission of competitive quotations, develop optimized pricing strategies, and support Sales and Application Engineering teams globally (APAC & EMEA & AMERICAS) in securing orders. This role also ensures a smooth and effective handover of Prebid documentation and cost information to the plant execution team upon order receipt.

This role plays a critical part in enhancing profitability through cost optimization, localization initiatives, value engineering, and data-driven pricing decisions.

• Review of RFQ documents and scope requirements provided by Sales / Application team.
• Assess technical and commercial impacts associated with project-specific customer requirements.

• Evaluate RFQ manufacturing feasibility based on existing plant capabilities, testing facilities, and resource availability.
• Estimate manufacturing costs related to casting, machining, fabrication, assembly, testing, painting, and packaging activities.
• Float RFQs to foundries, machining suppliers, fabrication vendors, and other buyout suppliers.
• Coordinate with local and global sourcing teams to obtain supplier input and quotations within required timelines.
• Possess good technical understanding of Electric Motors, Steam Turbines. Generators, Mechanical Seals, Seal Systems, Instrumentation, Electrical and Control Systems.
• Evaluate Incoterms, freight costs, duties, taxes, and applicable duty benefits.
• Evaluate technical deviations and determine associated cost implications.
• Coordinate closely with Engineering, Manufacturing, Quality, Sourcing, and Sales teams to ensure complete scope alignment.

• Prepare comprehensive Project costing sheet covering material, labor, overheads, testing, packaging, logistics, buyouts, and project-specific requirements.

• Participate in periodic S&OP and business review meetings to understand market intelligence, project priorities, and business requirements.
• Provide timely support to Sales and Application Engineering teams regarding pricing and technical-commercial clarifications.

• Hand over cost sheet and pre bid project documentation / Approval if any to Project Management and Issue project budget upon order receipt to sourcing.

• Support operations teams on cost-related queries during execution.
• Identify and drive cost reduction opportunities through Process improvements.
• Develop and maintain pricing models to improve margin performance and pricing consistency.
• Maintain historical cost databases and cost benchmarks.
• Perform margin analysis and variance analysis between estimated and actual project costs.
• Generate reports and insights related to quotation performance, profitability, and pricing effectiveness.

• Education: Bachelor’s degree in mechanical engineering from reputed university
• Experience: 8-12 years of experience in Pump Costing, Pricing, Application Engineering or Proposal Engineering. Hands-on experience in preparing techno-commercial offers, and project cost estimation for API pumps and engineered packages is highly preferred.

Technical Skills

• Experience in proposal costing, project estimation, and commercial evaluation.
• Good understanding of pricing strategy and margin management.
• Knowledge of pump applications and pump selection principles.
• Possess strong understanding of centrifugal pump manufacturing processes, BOM structures, routing, labor content, and manufacturing overhead allocation.
• Interpret engineering drawings, BOMs, P&IDs, General Arrangement drawings, datasheets, Pump performance curve and technical specifications.
• Strong understanding of centrifugal pump manufacturing processes.
• Knowledge of casting, machining, fabrication, assembly, testing, and packaging operations.
• Understanding of manufacturing overhead allocation and labor costing methodologies.
• Familiarity with API pump manufacturing & Testing standards.

Software Skills

• Advanced Microsoft Excel.
• ERP Systems.
• Power BI preferred.
• Cost estimation and reporting tools.
• Strong knowledge of Excel functions, Pivot Tables, Power Query, and data analysis.

What are we looking into an ideal candidate for the position?

• Decision-Making Under Pressure: Ability to make timely and sound decisions in high-stakes or time-sensitive scenarios.
• Communication and Interpersonal Skills: Clear communication with internal stakeholders, vendors, and cross-functional teams.
• Analytical Mindset: Proficiency in analyzing data to drive purchasing decisions and supplier performance improvements.
• Adaptability and Problem-Solving: Flexibility to manage changing market conditions, supply chain disruptions, and unexpected vendor issues
• Customer-Centric Approach: Focus on internal client satisfaction by ensuring timely and cost-effective procurement.
• Attention to Detail: Precision in reviewing contracts, specifications, and procurement documents