Address
Form of workPricing Analyst
Belt Power LLC is a full-service distributor and fabricator specializing in fulfillment of conveyor system requirements for the manufacturing and material handling industry. We place an emphasis on providing quality, value added components. Our product line ranges from conveyor belts, equipment, components and belting accessories to rubber, hose, and gasket products. Whether a larger-scale operation or a small business looking for your first conveyor system, Belt Power LLC can provide you with the correct parts and solution for your specific application.
We are looking for an innovative Pricing Analyst to manage the company pricing structure and help increase our business’s competitiveness and profitability. In this role, you will be maintaining customer and product pricing structures, analyzing competitors pricing, preparing market share and revenue forecasts, and comparing the outcomes of the different pricing strategies.
This role will have primary responsibility for maintaining pricing structures in the company ERP system. To ensure success as Pricing Analyst, you should possess sound knowledge of quantitative and qualitative data analysis methods, experience in a revenue generating role, and an expert proficiency with technology solutions. An accomplished Pricing Analyst is someone who is well organized, detail oriented and can translate pricing data into actionable profit-enhancing strategies.
Responsibilities:
- Primary responsibility for maintaining and updating ERP pricing structures based on current pricing strategies, promotion, and customer agreements.
- Assess data from variety of sources to gain insights into pricing strategies and market trends.
- Analyzing competitor pricing and market trends to increase market share and profitability.
- Tracking customer engagement to develop effective pricing strategies for products and offerings.
- Applying statistical modeling methods to determine the potential impact of pricing strategies on profitability.
- Recommending pricing strategies that align closely with market trends and identifying new market segments.
- Forecasting revenue and market share based on market trends, production costs, profit margins, and sales volumes.
- Collaborating with sales and marketing departments on developing and implementing competitive pricing strategies.
- Developing dynamic pricing tools to effectively respond to changing market needs and trends.
- Monitor pricing compliance to ensure that prices are correctly reflected in sales transactions.
- Investigate and address pricing discrepancies or errors.
- Work with Supply Chain to understand cost structures and how they impact pricing decisions.
- Analyze, communicate, and implement pricing strategies to account for supplier price increase for both new orders and effected open orders.
- Preparing and presenting pricing analysis findings to executives, marketing teams, and sales staff.
- Keeping informed on pricing analysis methods and industry trends.
- Other duties as assigned.
Qualifications:
- A bachelor’s degree in industrial distribution, mathematics, statistics, finance, economics, or in a related field or five years directly relevant experience.
- A master’s degree in business administration will be advantageous.
- A minimum of five years’ experience as a Pricing Analyst or Sales Analyst in a similar industry.
- Expert proficiency in Excel and other data analysis tools (macros, etc.), required.
- Advance proficiency in SQL, queries, database management, etc., required.
- Three years’ experience using ERPs as a Power User (all functions with table and report management), preferably P21 required.
- Proficiency in Business Intelligence (BI) software, such Power BI or Tableau.
- In-depth knowledge of ERPs, data management, and data analysis.
- Extensive experience in analyzing pricing strategies and forecasting revenue and market share.
- Experience in collaborating on pricing strategies with sales and marketing departments.
- Ability to keep abreast of industry trends and develop dynamic pricing tools.
- Advanced ability to present pricing analysis reports to relevant stakeholders.
- Excellent analytical and communication skills.
Requirements:
- Previous outside sales experience in conveyor belting, fabrication, industrial distribution, or power transmission preferred.
- Experience with conveyors and/or automation preferred.
- Proven ability to develop product and marketing strategies and effectively communicate recommendations to executive management.
- Solid technical background with understanding and/or hands-on experience and the ability to others to fish through effective training strategies.
- Strong problem-solving skills and willingness to roll up one’s sleeves to get the job done.
- Skilled at working effectively with cross functional teams in a matrix organization.
- Excellent written and verbal communication skills.
- Organization and prioritization skills; attention to detail.
- Highly responsive to and respectful of team and customer needs.
- Self-directed and high level of initiative.
- Excellent command of Microsoft Office including Microsoft Teams.
- Ability to lift up to pounds.
- Valid driver’s license and acceptable driving record.
- Must be able to pass a drug screen and background check.
Desired Characteristics:
- Ability and desire to quickly learn new processes and systems.
- Ability to work as part of a team and collaborate with colleagues.
- Reliability, integrity, accuracy, teamwork, positive attitude, organized, intelligent, proactive, and adaptable.
- Strong communication skills, both written and verbal.
Physical Demands:
The Pricing Analyst may lift and / or move up to 50 pounds and will require manual dexterity and strength in arms and feet to manipulate equipment controls. Tools, and other items used to make adjustments. Will use hands, arms, back, and shoulders to handle, position, move items, and manipulate other objects. Could be in a sitting, standing, bending, kneeling, or sitting position for long periods of time.
Work Environment:
While performing the duties of this position, the Pricing Analyst will be regularly exposed to working near moving and mechanical parts and equipment. The noise level in the work environment can be loud.
Position Type and Expected Hours of Work:
This is a full-time position in office, shop, and at the customer site. Typical workdays and hours are Monday through Friday, 8am to 5pm. Frequent overnight travel, overtime hours, and weekend work may be required.
