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Director of Pricing

3 months ago

Englewood Cliffs, United States Hire Point Recruiting Full time
Job DescriptionJob Description

Position Overview:

The Director of Pricing will be responsible for leveraging analytical methodologies to enhance insights and guide business decisions. This role is critical in shaping the company's strategy at both the US and global levels. Responsibilities include internal and external analysis to support the growth of the product portfolio, with a focus on market dynamics, pricing, sales forecasting, and profitability. Key collaborators will include marketing, finance, planning, logistics, and sales teams.

Responsibilities:

  • Collaborative Analysis: Work with global marketing, business intelligence, and regional teams to integrate data, develop analytical methods, and generate actionable insights to drive business decisions.
  • Fee Optimization: Analyze and improve upon agency fees, including distributor fees, group purchasing organization (GPO) fees, rebates, government pricing programs, and other components affecting the net sales.
  • Market Analysis: Proactively interpret data related to average selling price (ASP), wholesale acquisition cost (WAC), and reimbursement models to identify trends and opportunities, using these insights to inform strategic pricing decisions.
  • Competitor Analysis: Conduct thorough and ongoing analysis of competitors pricing strategies to understand market dynamics and positioning.
  • Strategic Pricing: Collaborate with sales, marketing, and finance teams to develop and implement pricing strategies that align with business objectives, enhance competitiveness, and maximize revenue and profit.
  • Contract Management: Work with sales, marketing, and finance teams on contracting strategies to ensure alignment with pricing strategies, adherence to contract performance, and accuracy in payments and discounts.
  • Stakeholder Engagement: Meet regularly with brand managers to discuss pricing, contracting, and market conditions.
  • Pricing Framework: Design and implement a strategic pricing framework across all brands, balancing competitive considerations with profitability objectives.
  • Internal Systems Development: Lead the development of an internal pricing and membership system to centralize pricing data, facilitate updates, and ensure team access to current information.
  • Central Contact Point: Serve as the central point of contact for all pricing-related matters, providing strategic direction and facilitating cross-functional collaboration.
  • Ongoing Optimization: Regularly optimize pricing strategies based on market conditions, sales objectives, product lifecycle, and customer segmentation.
  • Profitability Analysis: Conduct profitability analysis for each product, using data on contract utilization and cost of goods, to guide pricing decisions and predict their impact on overall business performance.
  • Supply Chain Coordination: Partner with the forecasting manager and third-party logistics to align shipments with forecasts and strategies.
  • Commercial Analytics: Collaborate with marketing and finance teams to develop new analytical methodologies for commercial business development and profitability analysis.
  • Data and System Refinement: Continuously refine data and system needs, monitor performance, and share results with internal stakeholders.
  • IT Collaboration: Work with global IT and sales operations to develop software solutions as needed.
  • People Management: Directly oversee the Analyst position, including performance monitoring, feedback, and professional development.

Qualifications:

  • Experience: 10+ years of experience within the pharmaceutical industry.
  • Education: Bachelors degree required, with an additional advanced degree desirable.
  • Expertise: Current or recent experience in pricing is preferred, along with a strong understanding of pricing models, profitability, and competitor analysis.
  • Skills: Strong analytical and strategic thinking skills, creativity, and the ability to thrive in a fast-paced environment.
  • Leadership: Experience in supporting and interacting with executive management, and a track record of successfully managing teams and projects.