Pricing Analyst
Wakefern Food Corp., Edison, NJ, United States
Summary
As a member of the strategic pricing team, the pricing analyst responsibilities are to establish, maintain and analyze price reference information, and to make recommendations that will facilitate optimal pricing decisions to be made by Pricing & Category Management teams. The pricing analyst will manage the day-to-day pricing activities across multiple categories; analyze and execute strategies that support the business goals.
Essential Functions The core functions of this position include, but are not limited to, the following:
Analyzes competition, product position and profitability, and makes recommendations for pricing changes based on analysis
Executes “what if” scenarios before finalizing and submitting prices for review
Develops and manages pricing strategies that will be used in automated pricing system. Must be able to provide business strategies to management team
Review system-generated pricing recommendations for accuracy and alignment to the category pricing strategy, as well as reviews results with key stakeholders
Tracks and analyzes results of price adjustments and works on adjusting pricing strategies related to market dynamic changes, pricing trends, and market opportunities
Provides fact-based guidance to key stakeholders in selecting pricing strategies/rules that result in increased sales, profit, and/or market share
Provides regular and ad hoc pricing analysis and reporting for procurement staff
Organizes baseline price information, analyzes and reports on inconsistencies, and identifies opportunities to optimize sales and profitability through price strategies
Provides analytical support associated with various projects and management requests. Supports the development and implementation of price tests to validate pricing strategies
Researches and resolves pricing issues as reported by stores and/or system-generated reports
Monitors competitor prices across all price zones for designated Key Value Items (KVIs) and advises procurement staff when changes to the market occur
Evaluates retail prices across industry channels to maintain competitive market position while maximizing profitability
Models categories for the price system
Knowledge and Skill Requirements
B.S. in Accounting/Finance, Business, Economics, Mathematics or equivalent
Strong analytical, quantitative, and qualitative analysis skills required
Exceptional collaboration, communication, and interpersonal skills
Exceptional analytical, organizational, and mathematical skills, as well as above average attention to detail and accuracy
Strong statistical aptitude including understanding components of financial analysis and the ability to work accurately with numbers
Must possess strong technical skills with ability to learn new software systems
Must have a strong understanding on the relationship between Retail Pricing, Item Costing, Warehouse Markup, Gross Profit Rate, and Gross Profit Dollars
Understand the economics behind price elasticity, multiples, and endings
Must possess a thorough understanding of competitive pricing
Demonstrated ability to independently develop new Excel models, charts and graphs as necessary
Ad-hoc analysis on methods to optimize price through market and pricing strategies
Evaluate all special pricing programs based on category manager input, including temporary price reductions
Excellent Excel skills, as well as proficiency in Word, Outlook and PowerPoint
Ability to rapidly learn new software systems and generate and analyze reports
Must be organized, detail oriented, and able to multi-task
Strong written and oral communication and negotiation skills
Ability to effectively gather and manage information from a variety of internal and external sources
Ability to be flexible and react quickly to change
Working Conditions & Physical Demands
Availability to work a varied, flexible schedule to meet business demands
Ability to monitor computer screens for long periods of time
Ability to work a hybrid schedule as established by the division (4 days on-site, 1 day remote)
Compensation and Benefits The salary for this position is $60,000-$70,000. Placement in the salary depends on several factors, including experience, skills, education, geography, and budget considerations.
Wakefern is proud to offer a comprehensive benefits package designed to support the health, well-being, and professional development of our Associates. Benefits include medical, dental, and vision coverage, life and disability insurance, a 401(k) retirement plan with company match, paid time off, holidays, and parental leave. Associates also enjoy access to wellness and family support programs, fitness reimbursement, educational and training opportunities through our corporate university, and a collaborative, team-oriented work environment. Many of these benefits are fully or partially funded by the company, with some subject to eligibility requirements.
About The Work This job description is intended to set forth the general nature and essential duties and responsibilities of the work performed by associates for this position. It may not contain a comprehensive inventory of all duties, responsibilities, and qualifications required of associates to do this job. Associates may be assigned additional responsibilities as necessary. The Company reserves the right to revise this job description at any time and to require associates to perform other tasks as circumstances or conditions of its business, competitive considerations or the work environment changes. This document describes the position currently available and is not an employment contract.
To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. If requested, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The position covered by this Job Description is expressly declared to be “at will,” meaning Wakefern has the right to terminate the incumbent’s employment at any time, with or without cause. Any written or oral promises or representations to the contrary are expressly disavowed and should not be relied upon by any associate. Any change to this “at will” employment status must be in writing and signed by the Vice President of Human Resource.
#J-18808-Ljbffr
Essential Functions The core functions of this position include, but are not limited to, the following:
Analyzes competition, product position and profitability, and makes recommendations for pricing changes based on analysis
Executes “what if” scenarios before finalizing and submitting prices for review
Develops and manages pricing strategies that will be used in automated pricing system. Must be able to provide business strategies to management team
Review system-generated pricing recommendations for accuracy and alignment to the category pricing strategy, as well as reviews results with key stakeholders
Tracks and analyzes results of price adjustments and works on adjusting pricing strategies related to market dynamic changes, pricing trends, and market opportunities
Provides fact-based guidance to key stakeholders in selecting pricing strategies/rules that result in increased sales, profit, and/or market share
Provides regular and ad hoc pricing analysis and reporting for procurement staff
Organizes baseline price information, analyzes and reports on inconsistencies, and identifies opportunities to optimize sales and profitability through price strategies
Provides analytical support associated with various projects and management requests. Supports the development and implementation of price tests to validate pricing strategies
Researches and resolves pricing issues as reported by stores and/or system-generated reports
Monitors competitor prices across all price zones for designated Key Value Items (KVIs) and advises procurement staff when changes to the market occur
Evaluates retail prices across industry channels to maintain competitive market position while maximizing profitability
Models categories for the price system
Knowledge and Skill Requirements
B.S. in Accounting/Finance, Business, Economics, Mathematics or equivalent
Strong analytical, quantitative, and qualitative analysis skills required
Exceptional collaboration, communication, and interpersonal skills
Exceptional analytical, organizational, and mathematical skills, as well as above average attention to detail and accuracy
Strong statistical aptitude including understanding components of financial analysis and the ability to work accurately with numbers
Must possess strong technical skills with ability to learn new software systems
Must have a strong understanding on the relationship between Retail Pricing, Item Costing, Warehouse Markup, Gross Profit Rate, and Gross Profit Dollars
Understand the economics behind price elasticity, multiples, and endings
Must possess a thorough understanding of competitive pricing
Demonstrated ability to independently develop new Excel models, charts and graphs as necessary
Ad-hoc analysis on methods to optimize price through market and pricing strategies
Evaluate all special pricing programs based on category manager input, including temporary price reductions
Excellent Excel skills, as well as proficiency in Word, Outlook and PowerPoint
Ability to rapidly learn new software systems and generate and analyze reports
Must be organized, detail oriented, and able to multi-task
Strong written and oral communication and negotiation skills
Ability to effectively gather and manage information from a variety of internal and external sources
Ability to be flexible and react quickly to change
Working Conditions & Physical Demands
Availability to work a varied, flexible schedule to meet business demands
Ability to monitor computer screens for long periods of time
Ability to work a hybrid schedule as established by the division (4 days on-site, 1 day remote)
Compensation and Benefits The salary for this position is $60,000-$70,000. Placement in the salary depends on several factors, including experience, skills, education, geography, and budget considerations.
Wakefern is proud to offer a comprehensive benefits package designed to support the health, well-being, and professional development of our Associates. Benefits include medical, dental, and vision coverage, life and disability insurance, a 401(k) retirement plan with company match, paid time off, holidays, and parental leave. Associates also enjoy access to wellness and family support programs, fitness reimbursement, educational and training opportunities through our corporate university, and a collaborative, team-oriented work environment. Many of these benefits are fully or partially funded by the company, with some subject to eligibility requirements.
About The Work This job description is intended to set forth the general nature and essential duties and responsibilities of the work performed by associates for this position. It may not contain a comprehensive inventory of all duties, responsibilities, and qualifications required of associates to do this job. Associates may be assigned additional responsibilities as necessary. The Company reserves the right to revise this job description at any time and to require associates to perform other tasks as circumstances or conditions of its business, competitive considerations or the work environment changes. This document describes the position currently available and is not an employment contract.
To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. If requested, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The position covered by this Job Description is expressly declared to be “at will,” meaning Wakefern has the right to terminate the incumbent’s employment at any time, with or without cause. Any written or oral promises or representations to the contrary are expressly disavowed and should not be relied upon by any associate. Any change to this “at will” employment status must be in writing and signed by the Vice President of Human Resource.
#J-18808-Ljbffr