The Job
The Pricing Strategy Associate will leverage strategic frameworks, competitive research and business data to help develop and drive continued adoption of Enterprise Pricing strategies across the business. Provide analytical, process and systems support to merchandising teams to enable strategic management of enterprise pricing and profitability, from purchase price through end consumer retail.
Design and establish a comprehensive regular and promotional pricing strategy, focused on the consumer, that maximizes the economic benefit (units, sales and margin), generating constant learning that enables the categories to capitalize on the opportunities detected.
What you'll do:
Retail Pricing & Profitability Strategy, Analysis & Insights:
- Assure a comprehensive regular and promotional pricing strategy (revenue management).
- Define and manages the regular price strategy by category to drive retailer profitability, maximizing the economic benefit and balancing the perception of fair prices.
- Define and manages the promotional strategy, maximizing the benefit (units, sales, margin) of each category.
- Develop a segmentation strategy for promotions (configuration and communication) based on elasticity analysis (product, POP material) and historical performance to capitalize on a greater economic benefit (units, sales, margin) of each category from the result of the promotion.
- Define and manages an analytical method that facilitates the measurement of impacts and generation of learning and feedback to merchant team on the regular and promotional pricing strategy
Wholesale Pricing & Profitability Strategy, Analysis & Insights:
- Drive and Maintain CPI goals
- Conduct Ad-Hoc Analysis to Support Definition and Refinement of Wholesale Pricing Strategy
- Execute Promotions & Pricing Strategy for the Network
- Partner with Merchants to Analyze Pricing Simulations (mass valid reports and/or custom) & Develop Recommendations
- Manage Wholesale Competitive Strategy, Analysis & Insights
- Review price and cost changes / Implementation in B1
- Support margin and profitability analysis for promotional SKUs
- Become SAP B1 & LS cost/price management expert within Ace, being able to develop and lead training sessions, identify process and system improvements to drive efficiencies, etc.
Pricing Maintenance Simplification, Maintenance & Support:
- Partner with Traffic and Merchants to execute cost changes and ensure freight Rates are updated and incorporated into pricing (Cost change portal)
- Investigate / troubleshoot and correct SKU purchase price and/or retailer cost issues in SAP including root cause analysis and process improvements to prevent in future
- Work collaboratively within the retailers pricing team to share best practices and learnings with teammates
- Maintains daily dashboards/exception reports including but not limited to $0 Retails, Low Margin SKU Report, MAP pricing, Vendor Change Dashboard
- Executes additional ad hoc tasks in SAP- Reduced Handling, Patronage Code and Flag
Store Retail Pricing Support:
- Review store inquiries related to retail pricing and provided resolution
- Maintain tracking of issues through resolution
- Ensure issues are resolved within the SLA timeframe
Contribute to the Category Review Process as Assigned:
- Work collaboratively with Category Management and Merchandising to ensure common understanding of the category strategy
- Analyze pricing of the assortment incorporating the category strategy and present how it translates to an overall pricing strategy
Maintain Additional Programs:
- Manages monthly system execution for promotions/vendor funding as resulting of promotions/closeouts & slow-moving strategies to drain product, fields inquiries from retailers related to program, run monthly reporting
- Custom Store Profitability/Pricing Guidance: Create store profitability trend/pricing reports and provide recommendations to retailers on improving profitability
- Present Pricing Strategy to internal stakeholders and retailers (New Owners & other)
What you will need:
Experience and Technical Requirements:
- Bachelor's degree in business, Finance, Engineering or related field
- Bilingual English/Spanish
- 3+ years analytical experience in Retail, CPG or Management Consulting industries
- Prior experience with SAP Cost/Price Management systems preferred
- Prior retail and/ customer service experience preferred
- Strong analytical and structured problem-solving skills
- Ability to analyze, evaluate and interpret complex data
- Ability to communicate effectively verbally and written to various levels of corporate and retail management (e.g., manager through VP and store associate through owner)
- Highly creative, flexible and adaptable with good follow-through
- Experience with analytical and visualization tools such as Alteryx or Power BI preferred
- Availability to travel 10% of the time
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