Does DBCC SHRINKFILE consumes operating system resources such as memory, CPU usage etc.?
Yes it does!
Until yesterday even I was under impression that it will not use or cause any issues to the server. But think about performing the SHRINK operation of transaction log & database files on regular basis, say within a scheduled job or ongoing process.
Further to my tests refer to this SSPFAQ post for further information in performing the shrink operation within your SQL Server enviornment.