3 months ago
Your Career Begins at Timken
If you're ready for a challenging career that provides you with the ability to advance personally and professionally, look to Timken. Our associates make the world more productive by improving the efficiency and reliability of the machinery that keeps industry in motion.
Purpose & Scope
The principal pricing analyst manages the development of prices and drives the quote process to ensure customer deadlines are respected and the optimum pricing strategy is implemented. The incumbent collaborates with Sales Management, Strategic Marketing and Product Management in order to maximize the profit margin and ensures the Company will not leave money on the table. This position will analyze market pricing, development strategies and proposals as well as oversee implementation. This position will drive process compliance regarding our global pricing tool and will be an expert of his or her customers and product lines.
1. Drive price optimization and price determination.
2. Analyze and report on inconsistencies, and identify opportunities to optimize sales and profitability through price strategies.
3. Work with Business Manager, strategic marketing and product management to develop and implement price strategies.
4. Perform analysis of existing transactional level data to identify price/margin erosion and assist sales and product/market management teams in constructing and implementing solutions.
5. Manage workload. Ensure timely processing of quotes or contract reviews to meet customer request dates.
6. Analyze large amounts of quantitative and qualitative data, and translate it into actionable insights and relevant takeaways.
7. Work within our global price execution infrastructure and drive improvements in price development lead time.
8. Drive process compliance and provide corrective actions where needed.
9. Ensure strong communication with global colleagues when completing global contracts.
10. Support the development and refinement of tools, policies, and procedures that enhance existing performance.
11. Maintain strong communication with Business Managers, Sales Management, Strategic Marketing, and Product Management.
Bachelor's degree in Business, Finance or Marketing with a minimum of 7 years work experience in pricing, 1 to 2 years product management experience a plus OR Master's degree in Business, Finance or Marketing preferred with 5 years' work experience.
* Understand the rationale behind pricing recommendations and the impact on profit margins.
* Excellent analytical, quantitative and qualitative analysis skills required
* Strategic thinker and problem-solver
* Demonstrated ability to operate independently with broad general guidance against a framework of defined business objectives.
* Excellent communication skills and influencing skills. Ability to work cross-functionally and effectively influence and partner. Listens and builds constructive relationships, uses diplomacy and tact. Maintain strong communication with Sales, Sales Support, Product Management, and Strategic Marketing.
* Maintain high level of market and product knowledge.
* Ability to produce strategic analysis to proactively identify issues and drive corrective actions.
* Detail oriented, organized and analytical. Ability to manage multiple projects at the same.
* Financial knowledge.
* Proficient in Microsoft Office (Excel, Word, PowerPoint), SharePoint.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, or disability status.