Key Pricing Strategist

1 week ago

Chattanooga, Tennessee, United States Astec Industries Full time

At Astec Industries, we're driven by a passion for innovation and a commitment to excellence. As a leading provider of cutting-edge solutions, we're seeking a talented Key Pricing Strategist to join our team.

About the Position

Astec is a forward-thinking company that leverages technology to stay ahead of the curve. We're looking for a skilled Pricing Manager to develop and implement impactful analysis in support of aftermarket pricing. Your role will include creating competitive market-based pricing strategies across the highly competitive Parts business, contributing significantly to the growth of Astec in terms of revenue and margin.

This position plays 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 assessing their potential impact on Astec's aftermarket Parts business.

Responsibilities
  • The Pricing position will be responsible for pricing aftermarket spare parts 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, and align 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 incorporate 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 to reduce manual efforts involved in Pricing.
About You

We're looking for a skilled and experienced Pricing Manager with a strong background in data analysis and AI/machine learning. The ideal candidate will have direct, hands-on experience collecting, preparing, and transforming data into actionable business recommendations. Experience developing AI quantitative models for pricing optimization is essential, along with strong analytical and business analysis skills.

The successful candidate will work effectively with people across the organization, gather information, make decisions, and recommendations, and identify improvements to current processes. They must demonstrate attention to detail, be able to work independently and as part of a team, be organized, and meet deadlines.

Requirements
  • 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 developing 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 part of a team.
  • Organized and able to meet deadlines with minimal supervision.
Salary Information

The estimated salary range for this position is $85,000-$110,000 per year, depending on experience and qualifications.

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