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LOCATION: On site - Chattanooga, Jerome Ave. (relocation assistance is available)
ABOUT THE POSITION
Astec is seeking a Pricing Manager to develop impactful analysis in support of aftermarket pricing at Astec. 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. This work will shape the near- and long-term direction of Astec
Deliverables & 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
To be successful in this role, your experience and competencies are:
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