What are the responsibilities and job description for the Pricing Analyst position at Hollman, Inc.?
Job Summary:
The Pricing Analyst will play a critical role in maximizing profitability through the development and implementation of pricing strategies. The position involves analyzing costs, market conditions, and competitor pricing to optimize pricing models for the company’s locker products, including custom solutions.
Key Responsibilities:
- Pricing Strategy Development:
- Develop pricing models for the locker product lines based on market research, competitor pricing, and internal cost structures.
- Recommend pricing strategies for new product launches and custom solutions.
- Conduct scenario analysis to evaluate how different pricing strategies affect revenue, profit margins, and sales volume.
- Cost Analysis and Profit Margins:
- Collaborate with the production and finance teams to understand the full cost structure (raw materials, labor, production, overhead) of lockers.
- Analyze Bill of Materials (BOMs) and production processes to determine the impact on pricing.
- Monitor input cost variables such as materials, transportation, and labor to ensure pricing is responsive to cost changes.
- Regularly manage price books based on fluctuations in material costs, labor, and other variable inputs.
- Competitive Analysis:
- Conduct competitive pricing analysis within the locker manufacturing industry and across adjacent industries.
- Monitor market trends and competitor activities to inform pricing adjustments and strategies.
- Work with the sales and marketing team to understand customer preferences and price sensitivity.
- Sales and Margin Reporting:
- Provide reports on sales performance, product profitability, and customer margins for management.
- Track and forecast sales trends to optimize pricing for different market segments (e.g., education, healthcare, gym lockers).
- Customer and Market Segmentation:
- Develop pricing models based on customer segmentation, identifying high-value customers and pricing elasticity in different verticals.
- Adjust pricing for different customer segments (education, healthcare, corporate offices, etc.) based on demand, volume, and customization requirements.
- Collaboration with CPQ/ERP Systems:
- Work closely with the company’s CPQ (Configure Price Quote) system to ensure accurate pricing for customized orders.
- Ensure that all pricing data is correctly inputted into the ERP system and is reflective of the most up-to-date costs and pricing strategies.
- Assist in troubleshooting pricing-related issues within the ERP and CPQ systems.
Required Skills and Qualifications:
- Education:
- Bachelor’s degree in finance, Economics, Business Administration, or related field. A background in mathematics or engineering could be advantageous for understanding manufacturing costs.
- Experience:
- 3 years of experience as a Pricing Analyst or similar role, ideally within the manufacturing or furniture industry.
- Experience with cost analysis, margin calculations, and competitive pricing models.
- Technical Skills:
- Proficiency with ERP and CPQ systems (e.g., Infor, SAP) to manage and configure pricing inputs.
- Strong Excel skills, particularly with functions like pivot tables, VLOOKUP, and financial modeling.
- Experience working with large data sets to analyze trends, costs, and performance metrics.
- Analytical Skills:
- Ability to perform quantitative analysis of cost structures, market trends, and competitor pricing.
- High attention to detail and the ability to draw insights from complex data sets.
- Communication Skills:
- Strong written and verbal communication skills to present pricing recommendations to management and work with cross-functional teams.
- Ability to explain complex pricing structures to non-financial stakeholders (sales, production teams).
- Adaptability:
- Ability to adjust pricing strategies quickly in response to changes in raw material costs, labor rates, or competitive pressures.
Preferred Qualifications:
- Experience in the locker or furniture manufacturing industry.
- Familiarity with supply chain and production processes in a manufacturing environment.
- Experience with pricing software or tools such as PROS, Vendavo, or Salesforce CPQ.
Performance Metrics:
- Accuracy of pricing strategies in achieving margin targets.
- Responsiveness to changes in market and input costs.
- Contribution to revenue growth through optimized pricing.
- Effective collaboration with sales, finance, and production teams on pricing-related issues.
