Pricing Analyst
Renovo SolutionsSummary
This role is highly analytical and requires working with complex data from multiple sources to determine and set competitive prices, price complex RFP inventories, increase market share, and achieve revenue goals. Additionally, the Analyst role will deliver data clean-up and analysis to drive strategic business insights. The Analyst will work with the VP of Operations and VP of Sales and Marketing to maintain a competitive, highly accurate data set for services on pharmaceutical instrumentation. Examples of devices include centrifuges, incubators, chromatography, PCR, bioreactors, flow cytometry, and mass spectrophotometers.
Essential Duties
- Responsible for developing pricing models that incorporate margins based on competitor, market, and customer data.
- Utilizing statistical analysis to track pricing trends in the marketplace using data from industry databases, catalogues, competitive quotes, and Renovo’s cost to self-support.
- Undertakes research on customers’ attitude towards changes in price to ascertain the limit of price change that is tolerable or can result in a shift to competitors’ product.
- Responsible for tracking contracted price increases, usually tied to the US Consumer Price Index (CPI).
- Perform various functions, which primarily involve the administration of pricing process, maintenance, and analysis activities surrounding the Renovo’s pricing database.
- Responsible for pricing data governance and direct the creation and maintenance of customer/market price lists, as well as provide analytics and reporting tools to support internal functional areas.
Essential Responsibilities
- Ensure that prices and specific programs conform to the organization’s pricing strategy
- Responsible for documenting and maintaining pricing processes
- Responsible for the review and administration of price deviations and exceptions
- Guarantee the accuracy of pricing data, targeting to eliminate pricing errors
- Responsible for preparing and pricing RFP submission and engaging and directing additional resources as needed
- Respond to pricing queries from other employees as needed
- Work with relevant stakeholders to resolve costing errors
- Responsible for analyzing and reporting on margin and market pricing to identify and capitalize on opportunities
- Undertake ad-hoc pricing analysis as required by superiors
- Report on KPIs and SLAs for Business Reviews
Skills, Knowledge, and Abilities/Competencies
- Strong quantitative and analytical skills: Must have an analytical mind, great attention to details. Requires providing insight working with large data and numbers.
- Knowledge: Required to have strong business acumen and demonstrated experience working with and supporting operations and sales teams.
- Computer skills: Advanced computer skills with Microsoft Office applications, including Excel, Word, and Power BI.
- Communication skills: Must have confident communication skills with supervisors, support teams, customers, and vendors.
- Research skills: Utilize data from multiple sources to contribute to pricing process improvement projects and aid pricing decisions. Undertake research to pull information from internal and external sources, and also perform ad hoc analysis using the appropriate statistical technique.
Education/Special Training
- Bachelor’s Degree in Business, Economics, or mathematics, or equivalent education.
- A minimum of 3 years’ experience in sales, marketing, or finance.
- Pricing experience is highly preferred.
Required Work Hours
This position requires a minimum of 40 hours per week.
Classification
- FLSA : Exempt
Travel Requirements
- This position may require travel
Working Conditions
- Remote
Reporting and Supervisory Responsibilities
- The Pricing/Data Analyst will report to the Director of Risk Rating
- This position does not have supervisory responsibilities