What are the responsibilities and job description for the Senior Pricing Analyst position at Astec Industries?
Description
BUILT TO CONNECT
At Astec, we believe in the power of connection and the importance of building long-lasting relationships with our employees, customers and the communities we call home. With a team more than 4,000 strong, our employees are our #1 advantage. We invest in skills training and provide opportunities for career development to help you grow along with the business. We offer programs that support physical safety, as well as benefits and resources to enhance total health and wellbeing, so you can be your best at work and at home.
Our equipment is used to build the roads and infrastructure that connects us to each other and to the goods and services we use. We are an industry leader known for delivering innovative solutions that create value for our customers. As our industry evolves, we are using new technology and data like never before.
We're looking for creative problem solvers to build the future with us. Connect with us today and build your career at Astec.
LOCATION : Chattanooga, TN
ABOUT THE POSITION
Astec is seeking a Senior Pricing Analyst to develop impactful analysis in support of aftermarket pricing at Astec. This role will include developing competitive, market-based pricing and strategies across the highly competitive Parts business and will have the opportunity to make significant contributions to the growth of Astec in terms of growing revenue and margin.
This role will be instrumental in identifying and advancing new opportunities in AI and machine learning, researching and creating proof of concepts, bringing new machine learning and AI solutions into Astec Pricing strategies and assess their potential impact on Astec aftermarket Parts business
The ideal candidate will have direct, hands-on experience on collecting, preparing and transforming data into actionable business recommendations. Experience developing AI quantitative models for pricing optimization. Strong analytical and business analysis skills are required. Applicant should work effectively with people across the organization, gather information, make decisions and recommendations and identify improvements to current processes. Must demonstrate attention to detail, be able to work independently and as member of a team; must be organized and meet deadlines. This work will shape the near and long-term direction of Astec.
Deliverables & Responsibilities
- Prepare, analyze, and validate parts sales data.
- Identify ways to improve business operations.
- Define the proper business requirements.
- Presentation of key findings and strategic insights.
- Create and maintain KPI dashboards.
- Customer Analysis - customer feedback reports, customer retention strategies.
- Market research reports - trends, customer needs, competitor activity, product offerings and promotions.
- The Pricing position will be responsible for pricing aftermarket spare parts to stay competitive in the market and make pricing recommendations using AI / machine learning models based on competition, product / customer segmentation, elasticity analysis and market demand.
- Develop and implement AI / machine learning models that improve Astec's ability to price spare parts, predict costs on parts that will help align expected demand and inventory levels.
- Develop, advocate, and implement best-in-class price optimization methodologies and revenue management tools developed using AI.
- Recommend pricing strategies to senior leadership based on in-depth analyses that incorporates price sensitivity by customers and quantify the impact on the business.
- Influence internally to encourage the adoption and testing of new pricing structures and strategies using Test vs Control approach.
- Assess competitive price positioning across all market segments using industry analysis, quantitative modeling, competitive analysis, and developing AI tools to monitor prices across competitors and distributors to capitalize on market share opportunities.
- Support pricing automation efforts by developing rules-based pricing algorithms across similar segments of parts that would help reduce manual efforts involved in Pricing
- Perform other duties as assigned.
To be successful in this role, your experience and competencies are :
