Carotek, a SunSource company, provides process equipment solutions for the industrial, commercial and municipal markets in North Carolina, South Carolina, Tennessee, Georgia and Virginia. Carotek represents over 85 manufacturers as their process equipment distributor, representative, and repair center for pumps, blowers, heat exchangers, valves, instrumentation, IIoT, steam, hydronics and municipal products. www.carotek.com
Position Summary:
Responsible for setting strategy and executing Carotek’s pricing model. This role will provide overall guidance to managers and cross functional teams to help establish pricing strategy that aligns with the enterprise wide pricing system. The Pricing Manager will collaborate with the SunSource Pricing Manager to ensure consistency and continuous improvement in the pricing system and optimization of gross margin results.
Responsibilities:
Leads and develops company pricing strategy with SBU leadership in order to meet yearly gross profit objectives as defined by Carotek’s annual plan.
Develops ideas and baseline metrics to identify and develop pricing processes. Measure models for optimal pricing effectiveness to drive gross margin improvements.
Partners with business unit leaders, pricing team leaders, as well as cross functional teams to align sales and pricing strategy. Promotes and influences with ideas in proposing innovative solutions that optimally align price with value to drive revenue, customer retention, profit, etc.
Authorizes and assists the implementation of all matrix pricing records including changes, additions, and overrides. Creates and implements pricing mechanisms as well as perform supplier cost updates.
Evaluates effectiveness of pricing strategies, identifies gaps and opportunities and provides guidance to address those areas; develops and implements processes to reduce pricing overrides.
Researches and analyzes Market based pricing to support pricing strategy.
Responsible for training on pricing strategies and making informal presentations to provide brief, easy to understand insights and recommendations. Holds regular cadence with sales teams to present these strategies and recommendations for areas of margin improvement.
Participates in companywide Pricing Best Practices team and regular cadence meetings.
General Education and Experience:
Education: Bachelor’s Degree; preferably in Finance / Business with strong analytical background.
Experience: Candidate must possess at least 6-8 years of experience in Pricing & Sales Analytics and at least 3 years leading a team within a distribution environment. Proven ability to manage pricing strategy across various channels in a multi location environment beneficial.
Knowledge and Skills: Sound analytical and problem solving skills and experience driving insights from data, trends in both pricing and sales analytics. Must be able to develop thorough understanding lead-to-order process – product/service price list, configure/price/quote (CPQ), order management, etc. Demonstrated experience in developing and obtaining support for business plans and strategies by influencing cross-functional management Ideal candidate will have Prophet 21 ERP experience related to pricing. Possess advanced Excel/Data knowledge.
Key Competencies:
Accountability: Demonstrates an understanding of the link between one’s own job responsibilities and overall organizational goals and needs, and performs one’s job with the broader goals in mind.
Pricing Program analytics – highly skilled in excel, ERP and other reporting programs. Extract data analytics from systems for regular reporting and identifying areas for margin improvement opportunities.
Positive Encouragement – Skilled in conveying margin improvement opportunities to sales teams. Positively influencing sales teams in overall advantages of margin growth and how to approach customers with price increases.
Customer Contract Pricing – Understanding customer contract pricing and working with the sales teams to convey necessary margins for contract pricing.
Communication: Creates an atmosphere in which timely and high quality information flows smoothly both up the organization and down, inside the organization; encourages open expression of ideas and opinions.
Energy/Drive for Results: Demonstrates concern for achieving or surpassing results against an internal or external standard of excellence. Shows a passion for improving the delivery of services with a commitment to continuous improvement.
Problem Solving/Analytical Thinking: Builds a logical approach to address problems or opportunities or manage the situation at hand by drawing on own knowledge and experience base and calling on other references and resources as necessary.
Planning and Organizing: Establishes a systematic course of action for self or others to ensure accomplishment of a specific objective. Sets priorities, goals and timetables to achieve maximum productivity.
Interpersonal Relationships: Thinks carefully about the likely effect on others of one’s words, actions, appearance and mode of behavior. Maintains stable performance and emotional control when faced with opposition, pressure, hostility from others and/or stressful conditions.
Required Competencies:
High level of organization and ability to coordinate with functional support groups as well as Sales Force and Customer Service to achieve results.
Experience in highly matrix situations.
Demonstrated ability to think creatively.
Strong analytical skills.
Must have strong financial background.
Strong written and verbal communication skills; experience in preparing presentations at the executive level.
· Establishes and maintains the accuracy of the Epicor/Prophet 21 pricing database, including customer types/sizes, product families, discount multipliers, and pricing structure (Price Library/Price Book/Price Pages).
· Sets up and maintains contract pricing schedules in the system.
· Reviews/verifies the accuracy of assigned Customer classifications and Pricing structures.
· Approves all pricing overrides.
· Communicates supplier cost increases and updates associated with supplier cost information and pricing structure in Epicor/Prophet 21. Resolves all supplier pricing issues. Develops and determines how to create baseline pricing and execute project plans for importing pricing structures.
· Coordinates transfer of invoice data and pricing structure for any third-party pricing analysis as needed. Reviews multipliers versus list pricing recommendations, identifies anomalies and adjusts pricing.
· Establishes pricing and profitability targets for customer and business unit segments. Maintains weekly dashboards for revenue, gross margins and trends by business unit.
Tracks, analyzes and reports on performance metrics and basis for pricing overrides