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Pricing Manager

4 weeks ago

Chattanooga, Tennessee, United States Astec Industries Full time
About the Role

Astec Industries is seeking a Pricing Manager to develop impactful analysis in support of aftermarket pricing. 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.

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
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 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
  • 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
About Astec Industries

Astec Industries is a leading manufacturer of equipment for the construction and infrastructure industries. We are committed to delivering innovative solutions that create value for our customers. Our team is passionate about building long-lasting relationships with our employees, customers, and the communities we serve. We offer a dynamic work environment that fosters growth, innovation, and collaboration. If you are a motivated and results-driven individual who is passionate about pricing and revenue growth, we encourage you to apply for this exciting opportunity.

What We Offer

Astec Industries offers a competitive salary and benefits package, including medical, dental, and vision insurance, 401(k) matching, and paid time off. We also offer opportunities for professional growth and development, including training and education programs, mentorship, and career advancement opportunities. Our company culture values diversity, equity, and inclusion, and we are committed to creating a workplace that is welcoming and inclusive for all employees. If you are a team player who is passionate about pricing and revenue growth, we encourage you to apply for this exciting opportunity.

How to Apply

To apply for this exciting opportunity, please submit your resume and cover letter to [insert contact information]. We look forward to hearing from you and learning more about your qualifications and experience.

Equal Opportunity Employer

Astec Industries is an equal opportunity employer and welcomes applications from diverse candidates. We are committed to creating a workplace that is inclusive and respectful of all employees, regardless of their race, color, religion, sex, national origin, age, disability, or any other characteristic protected by law. We are an affirmative action employer and are committed to working with and providing reasonable accommodations to individuals with disabilities. If you require a reasonable accommodation to apply for this position, please contact us at [insert contact information].