What are the responsibilities and job description for the Analyst, Pricing position at Family Dollar?
This position is responsible for executing and managing the pricing strategies aligned to by the Director of Pricing, Pricing Manager, Buyers and Planners. This individual will be responsible for modeling the sales and margin impacts associated with various pricing scenarios and then presenting pricing alternatives to the Buyer. The position is accountable for pricing implementation for base pricing and assisting the Buyer/Planner meet margin expectations as budgeted in the Merchandise Financial Plan (MFP).
Principal Duties & Responsibilities:
Manage the day-to-day pricing activities within a set of merchandise categories for both pre-seasons planning and in-season execution. This includes, but is not limited to: generating reports, creating spreadsheets, presenting key findings to assigned Merchandising teams Provide fact-based guidance to the Buyers in selecting pricing strategies/rules that result in increased sales, profit, and/or market share. Manage rules and strategies (by category/by zone) within the price optimization system Supports design of programmatic analysis and reporting capabilities for new analyses and be able to perform ad-hoc analysis as directed. Provide guidance and expertise on store/SKU elasticity as it relates to future price changes Review system-generated pricing recommendations (base price) for accuracy and alignment to the category strategy—review results with buyer and collaborate on final prices Review system-generated pricing recommendations for mark downs in order to align with category goals to maximize sell through and revenue on a SKU/Store basis. Update and analyze metrics and performance reports on pricing recommendations and markdowns, and identify areas of opportunity and recommendations to improve category goals Execute impact scenarios on sales, units, and margin to Merchants before finalizing and submitting prices to Retek Collaborate with Pricing Operations to ensure execution of retail changes in Retek Provide market and industry insights to competitive indexing and trends for assigned categories Audit all pricing sessions to ensure 100% accuracy—create reports to track pricing errors Research and resolve pricing issues as reported by stores and/or system-generated reports Support the development and implementation of price tests to validate category strategies Work on special projects, ad hoc analysis, and initiatives related to pricing strategies Monitor and provide competitor prices across all price zones for designated Known Value Items (KVIs) Other duties as assigned
Position Requirements:
Education: Bachelor’s degree in Business, Data Analytics, Operations Research, Statistics, Management Information Systems, Business Information Technology, Computer Science, Mathematics, Economics, Finance or related field
Experience: 2-4 years of decision support experience; specific experience in retail pricing a plus
Software: Advance proficiency with MS Excel, general proficiency with MS Office application (Access, Word, and PowerPoint)
Preferred Qualifications:
Principal Duties & Responsibilities:
Manage the day-to-day pricing activities within a set of merchandise categories for both pre-seasons planning and in-season execution. This includes, but is not limited to: generating reports, creating spreadsheets, presenting key findings to assigned Merchandising teams Provide fact-based guidance to the Buyers in selecting pricing strategies/rules that result in increased sales, profit, and/or market share. Manage rules and strategies (by category/by zone) within the price optimization system Supports design of programmatic analysis and reporting capabilities for new analyses and be able to perform ad-hoc analysis as directed. Provide guidance and expertise on store/SKU elasticity as it relates to future price changes Review system-generated pricing recommendations (base price) for accuracy and alignment to the category strategy—review results with buyer and collaborate on final prices Review system-generated pricing recommendations for mark downs in order to align with category goals to maximize sell through and revenue on a SKU/Store basis. Update and analyze metrics and performance reports on pricing recommendations and markdowns, and identify areas of opportunity and recommendations to improve category goals Execute impact scenarios on sales, units, and margin to Merchants before finalizing and submitting prices to Retek Collaborate with Pricing Operations to ensure execution of retail changes in Retek Provide market and industry insights to competitive indexing and trends for assigned categories Audit all pricing sessions to ensure 100% accuracy—create reports to track pricing errors Research and resolve pricing issues as reported by stores and/or system-generated reports Support the development and implementation of price tests to validate category strategies Work on special projects, ad hoc analysis, and initiatives related to pricing strategies Monitor and provide competitor prices across all price zones for designated Known Value Items (KVIs) Other duties as assigned
Position Requirements:
- Very strong analytical and problem solving skills
- Advance proficiency with MS Excel, general proficiency with MS Office application.
- Experience working and generating reports using SQL and/or programming languages and SAS background a strong plus
- Ability to learn unique software applications and corporate systems. Proficiency with retail pricing software packages a plus
- Strong verbal/written communication, and interpersonal skills
- Ability to prioritize and manage multiple assignments and meet tight deadlines
- Ability to work cross-functionally and maintain effective relationships with Merchant and Planning teams
- Ability to work independently and adapt to changing work priorities
Education: Bachelor’s degree in Business, Data Analytics, Operations Research, Statistics, Management Information Systems, Business Information Technology, Computer Science, Mathematics, Economics, Finance or related field
Experience: 2-4 years of decision support experience; specific experience in retail pricing a plus
Software: Advance proficiency with MS Excel, general proficiency with MS Office application (Access, Word, and PowerPoint)
Preferred Qualifications:
- Experience applying qualitative and statistical methods, conducting research projects, and preparing reports
- Experience working with large sets of data, utilizing BI tools and or script languages
- Experience in retail and/or pricing industry
- Experience presenting to a variety of audiences
