Pricing Manager

2 weeks ago

Chattanooga, United States Astec Industries Full time
Description

At Astec, we believe in the power of connection and the importance of building long-lasting relationships with our employees, customers and the communities we call home. With a team more than 4,000 strong, our employees are our #1 advantage. We invest in skills training and provide opportunities for career development to help you grow along with the business. We offer programs that support physical safety, as well as benefits and resources to enhance total health and wellbeing, so you can be your best at work and at home.

Our equipment is used to build the roads and infrastructure that connects us to each other and to the goods and services we use. We are an industry leader known for delivering innovative solutions that create value for our customers. As our industry evolves, we are using new technology and data like never before.

We're looking for creative problem solvers to build the future with us. Connect with us today and build your career at Astec.

LOCATION: On site - Chattanooga, Jerome Ave. (relocation assistance is available)

ABOUT THE POSITION

Astec is seeking a Pricing Manager to develop impactful analysis in support of aftermarket pricing at Astec. Your role will include developing competitive, market-based pricing and strategies across the highly competitive Parts business and will have the opportunity to make significant contributions to the growth of Astec in terms of growing revenue and margin.

This role will play a crucial role in exploring and developing new AI and machine learning opportunities, researching and creating proof of concepts, bringing new machine learning and AI solutions into Astec Pricing strategies and assess their potential impact on Astec aftermarket Parts business

The ideal candidate will have direct, hands-on experience on collecting, preparing and transforming data into actionable business recommendations. Experience developing AI quantitative models for pricing optimization. Strong analytical and business analysis skills are required. Applicant should work effectively with people across the organization, gather information, make decisions and recommendations and identify improvements to current processes. Must demonstrate attention to detail, be able to work independently and as member of a team; must be organized and meet deadlines. This work will shape the near- and long-term direction of Astec

Deliverables & Responsibilities
  • The Pricing position will be responsible for pricing aftermarket spare parts in order to stay competitive in the market and make pricing recommendations using AI/machine learning models based on competition, product/customer segmentation, elasticity analysis and market demand
  • Develop and implement AI/machine learning models that improve Astec's ability to price spare parts, predict costs on parts that will help aligning expected demand and inventory levels
  • Develop, advocate, and implement best-in-class price optimization methodologies and revenue management tools developed using AI
  • Recommend pricing strategies to senior leadership (VP and President) based on in-depth analyses that incorporates price sensitivity by customers and quantify the impact on the business
  • Influence internally to encourage the adoption and testing of new pricing structures and strategies using Test vs Control approach
  • Assess competitive price positioning across all market segments using industry analysis, quantitative modeling, competitive analysis, and developing AI tools to monitor prices across competitors and distributors to capitalize on market share opportunities
  • Support pricing automation efforts by developing rules-based pricing algorithms across similar segments of parts that would help reduce manual efforts involved in Pricing
This description is representative but not inclusive of all position responsibilities. Associate may be asked from time to time to complete tasks not listed within the contents of this document but that are relative to the goals of the business.

To be successful in this role, your experience and competencies are:
  • Bachelor's degree in business management, Finance, Marketing, or related analytical field
  • 3+ years of experience with large scale data systems and analytics developing quantitative AI models for pricing optimization
  • 3+ years of experience working in cross-functional teams such as sales, product, finance, and supply chain teams to establish pricing models aligned with revenue/margin objectives
  • Analyzing large, complex data sets and development of commercial insights with business recommendations
  • High degree of problem solving advanced analytical and critical thinking skills
  • Ability to work well under pressure, independently, in a fast-paced environment
  • High attention to detail and able to work independently or as member of a team.
  • Organized and able to meet deadlines with minimal supervision
Preferred Qualifications (Desired Skills/Experience)
  • MBA or related advanced analytical degree
  • 5+ years of related work experience or an equivalent combination of education and experience in Manufacturing industry or Pricing roles
  • Experience developing dynamic pricing strategies in other industries
  • Building customer segmentation models, price elasticity models at the part/segment level
  • Developing Test vs Control price tests to determine optimal pricing strategies, reporting on Test results and finalizing recommendations
  • Experience with Python, R, SQL or other programing languages
  • Familiar with Oracle or other ERP's


Our Culture and Values

Employees that become part of Astec embody the values below throughout their work.
  • Continuous devotion to meeting the needs of our customers
  • Honesty and integrity in all aspects of business
  • Respect for all individuals
  • Preserving entrepreneurial spirit and innovation
  • Safety, quality and productivity as means to ensure success.
Travel Requirements: Some travel may be required.

NOTE: This position responsible for certain internal control responsibilities. These internal control responsibilities are verbally communicated to the incumbent and periodic feedback is provided as it relates to the performance of these internal control responsibilities.

WORK ENVIRONMENT:

Office/Travel

While performing the duties of this job, the employee is regularly exposed to risk of injury in an office environment and occasionally a manufacturing shop plant environment. Duties include a typical office setting including extensive computer work, sitting or standing. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Manufacturing Environment

Shop manufacturing environment exposures include exposure to moving mechanical parts, machinery, tools and equipment, vibration, fumes or airborne particles, motorized vehicles, welding and machining operations, outside weather conditions and exposure to the risk of electric shock. The employee may occasionally be exposed to varying levels of dirt, dust, toxic or caustic chemicals, very warm and/or very chilly temperatures. The noise level in the shop can be very loud at times consistent with an industrial assembly facility and may require hearing protection. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EQUAL OPPORTUNITY EMPLOYER

As an Equal Opportunity Employer, Astec does not discriminate on the basis of race, creed, color, religion, gender (sex), sexual orientation, gender identity, marital status, national origin, ancestry, age, disability, citizenship status, a person's veteran status or any other characteristic protected by law or executive order.

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