Pricing Coordinator
General Summary:
The Pricing Coordinator is responsible for driving pricing, margin and general financial analysis. This includes price/product optimization, pricing strategies, customer contract management, customer rebate management and management reporting. The Pricing Coordinator’s primary responsibility is to establish and maintain product pricing that will meet both volume and profit objectives. They will manage larger scale analytical projects associated with product line performance, customer pricing/impact analysis, and competitive bids. They will utilize technology and information to formulate price quotations for a given market in a responsive and competitive manner. They will work closely with sales reps, sales management, and Pricing Manager in developing and executing pricing strategy, while partnering with finance to ensure alignment with financial goals. In addition, the Pricing Coordinator will analyze/assess performance of our pricing strategy and recommend actions to meet and exceed financial goals.
Primary Responsibilities and Duties:
• Provide support in all pricing activities related to; customer requests for quotation, pricing proposals, and costing system analysis ensuring profitability. Works to develop, plan and recommend pricing actions that drive additional profit for the company through product, customer or regional pricing.
• Works closely with primary suppliers to negotiate cost on a per customer, per product basis and ensures that cost is loaded properly into ERP system.
• Provides analytics and reporting that measures profitability of products that support pricing strategy analyses and decision making.
• Maintains an expert-level knowledge of all company’s pricing methodologies, external market forces, and internal factors which influence pricing.
• Analyze pricing inputs such as vendor costs, operational costs and/or actuals to determine appropriate pricing based on pricing guidelines and internal/external factors.
• Communicate with internal departments and outside vendors to resolve issues concerning cost.
• Analyze products and establish total cost and adjust pricing as appropriate to ensure margins are maintained.
• Provide expert-level guidance in resolving complex pricing tasks.
• Maintain customer pricing database and communicate customer pricing changes to sales.
• Analyze and report on product cost at all locations to assure consistent and accurate pricing.
• Responsible for working with other company functions to learn and gain expert knowledge on the product offerings.
• Assists in the development of pricing strategy with the pricing and finance teams. Recommends and enforces pricing policies and strategies to maintain or improve competitive position and/or profitability.
• Perform detailed analysis of product and competitive data to optimize regular prices for merchandising categories. Track and measure margin performance (sales, margin, cost, freight, equipment, etc.)
• Develops strategic recommendations by working with business units to analyze and understand all necessary data, including internal sales data, market trends, competitive landscape and current prices.
• Populates pricing requests with proper rates, accessorial, and delivery costs.
• Coordinates with sales, and customer service to ensure timely quoting and follow up on pricing requests.
• Takes initiative in identifying and resolving issues around pricing.
• Have a thorough knowledge of the product line, sales process, delivery capabilities, and operational methods.
• Evaluate and maintain market price integrity while understanding the competitive environment.
• Understands business implications of decisions and displays orientation to profitability.
• Demonstrates knowledge of market and competition; Aligns pricing with strategic goals.
Communication Skills:
• Must have strong interpersonal, oral, and written communication skills. Be able to communicate on all levels within an organization.
• Responsive to the needs of internal and external customers with sense of urgency and commitment to follow up.
• Ability to effectively present information and respond to questions from internal and external customers.
Knowledge, Skills, and Abilities:
• Bachelor’s degree required or equivalent work experience.
• Two to four years procurement or operational experience in the Transportation or Distribution industry with an emphasis on data analysis, accompanied by an understanding of supply chain life cycles, and sales processes preferred.
• Have strong computer skills and be proficient in MS Word, Access, and specifically Excel. Advanced excel skills required.
• Willingness to learn and work closely with others to understand the organization.
• Ability to work flexible hours in order to meet project deadlines and to manage tight timelines as required.
Previous sophisticated ERP system experience required, Oracle/JD Edwards a plus.
• Must have strong mathematical and analytical skills.
• Must have the strong ability to multi-task.
• Must have a strong work ethic and drive to achieve established goals and deadlines, with a desire for, and commitment to learning and growth
• Must be organized, efficient, detail oriented, accurate and have the ability to prioritize and work under pressure.
• Must be able to make independent fact-based decisions in a quick and responsive manner.
• Analytical and detail oriented with strong problem solving skills.
• Experience in retail and/or wholesale distribution pricing, merchandising or marketing analysis at both strategic and tactical levels. Preferred but not required.
• Experience in pricing optimization/modeling in retail and/or wholesale distribution environment.
• Experience in financial and business analysis including sales & margin.
• Ability to think proactively and manage time effectively. Ability to prioritize workload and meet deadlines with minimum supervision.
• Self motivated and able to contribute individually as well as part of a team.
The job description of Pricing Coordinator is not inclusive and is subject to changes, additions, and deletions as determined by the supervisor.