Manager, Pricing Solutions

Family Dollar Stores   •  

Chesapeake, VA

Industry: Retail & Consumer Goods


5 - 7 years

Posted 39 days ago

General Summary:

The Manager (Pricing and Profitability) plays a key role in the day to day function of the Pricing Department, and is responsible for executing and managing the pricing strategies aligned to by the Director of Pricing & Analytics, Buyer and Planner. This position is responsible for overall pricing and cost/CPI strategies that cross multiple lines of business, and for mentoring Senior Analysts and Analysts in regard to pricing strategy & software knowledge and report development. The position is accountable for pricing integrity (price accuracy) for base pricing and assisting the Buyer/Planner to meet margin expectations as budgeted in the Merchandise Financial Plan (MFP). He/she is responsible to assure accurate, timely execution of all base price changes, and help investigate store price issues where applicable. This position will manage 1-2 Senior Analysts and 3-4 Analysts. Principal Duties & Responsibilities:

  1. Drive Value
    1. Manage the day-to-day pricing activities of all merchandise categories for both pre-season planning and in-season execution. This includes, but is not limited to: generating reports, creating spreadsheets, presenting key findings to assigned Merchandising teams in coordination with Senior Price Analyst and Base Price Analysts
    2. Provide fact-based guidance to the Price Analysts and Buyers in selecting pricing strategies/rules that align the corporate category role and intent. Manage rules and strategies (by category/by zone) within the price optimization system
    3. CPI initiatives – ensure lowest cost of goods sold is negotiated to ensure EDLP is attainable and sustainable
      1. Monitor commodities markets to ensure cost increases and decreases are provided at appropriate times
  2. Pricing expertise and accuracy
    1. Act as Pricing Subject Matter Expert for price optimization (Revionics) both inside and outside the Pricing organization
    2. Provide guidance and expertise on store/SKU elasticity as it relates to future price changes
    3. Provide market and industry insights to competitive indexing and trends for assigned categories
    4. Execute “what if” scenarios before finalizing and submitting prices to Retek
    5. Pricing maintenance execution plans – identify underperforming SKUs and develop action plan; utilize learnings to create sustainable strategy plans
    6. Owner of Pricing Strategy and financial impacts
    7. Work on special projects, ad hoc analysis, and initiatives related to pricing strategies
    8. Manage the pricing calendar to balance workload in the stores and improve price execution
    9. Support the development and implementation of price tests to validate category strategies
  3. Communication and Reporting
    1. Present strategic plans and findings to executive leadership including President and CEO
    2. Act as the liaison between the Pricing Department and other lines of business in more strategic or special project situations; identify areas of disconnect in goals and work toward resolution
    3. Provide reports to illustrate price change forecast versus actual results and action plans, by category, to monitor and react to pricing opportunities
    4. Monthly touch bases with merchandising and planning management to ensure alignment of goals for all areas of organization
    5. Monitor and report competitor prices across all price zones for designated Known Value Items (KVIs)
  4. Leadership development
    1. Mentor Senior Analysts as needed to ensure opportunities are identified and addressed; audit work of Pricing Analysts on an as needed basis, with a focus on developing the cultural and tactical knowledge of the Analyst.
    2. Delegate pricing projects where possible based on analyst skill set and growth opportunities
    3. Weekly touch bases with analysts to ensure short term and long term activities are executed and support and tools are provided where necessary; open communication around expectations and career aspirations
    4. Reduce turnover; employee retention-focused goal planning
  5. Other duties as assigned

Position Requirements:

  • Very strong analytical and problem solving skills
  • Proficiency with retail pricing optimization software packages a plus
  • Proficiency with Microsoft Office Suite
  • Proficient verbal and written communication skills
  • Ability to prioritize and manage multiple assignments and meet tight deadlines
  • Ability to work cross-functionally and maintain effective relationships with all Buyers/Planners
  • Ability to work independently and adapt to changing work priorities
  • Ability to mentor peers, both inside and outside the Department
  • Ability to identify the big picture, connections and disconnects, and provide recommendations
  • Ability to lead cross-functional team

Minimum Requirements: Education: Four-year college degree; Finance, and/or Mathematics background a strong plus Experience: 5 years pricing experience required, 3 years or more preferred. Experience with direct reports. Software: Microsoft Office Suite, Price Optimization Software