The Role:
The Pricing & 80/20 Manager role is a highly dynamic position and critical in developing and implementing the North American business pricing strategies and processes that drive net standard margin expansion. This role requires strong collaboration with various teams at all levels to drive efficient and successful product pricing strategies and quotation processes. The position requires strong process orientation, ability to organize data and create effective reporting, and the ability to work independently to manage multiple priorities on a regular basis.
The 80/20 leadership aspect of the role also requires cross business collaboration, including a growing knowledge of 80/20 principles and how to create strategies for growth through these principles. This person will be responsible for regular analysis of business statistics, stimulating inputs for complexity reduction, presenting proposals on segmented strategic growth, and identifying areas for 80/20 process and reporting improvements.
This position reports directly to the Vice President North America Sales & Marketing -Agriculture and can be located remotely in the USA or in the Crawfordsville, IN or Greenwood, NE business locations. If remote, estimated travel will be 30-50%, primarily to the business units. Travel will be approximately 15-20% if located in one of the business facilities mentioned.
The Responsibilities:
The role of Pricing & 80/20 Manager is, at its core, designed to maximize profitability for the business. Through deep, comprehensive knowledge of product, channel, customer dynamic and competitive landscape, this person will devise strategies to deliver this objective.
Pricing Focus:
- Develop and deploy a value based pricing strategy for both Banjo and KZValve products and channels
- Create price parity within channels/markets with a plan to 2clean up2 disparate legacy pricing
- Create and maintain a competitive pricing database and propose approaches to take share through price maneuvers
- Bring a continuous improvement mindset to pricing administration to efficiently execute price updates, communications, and reporting
- Analyze price and profitability trends across customers, channels, segments and propose actions for improvement
- Work in collaboration with Supply Chain Management and Product Management to understand impact of inflation and translate to price capture actions and recommend areas for strong action to remain competitive
80/20 Focus:
- Train and understand 80/20 methodology and theory; be SME to educate deeper within org
- Frequently analyze and guide organization through communication with SLT on opportunities for accelerated profitable growth through 80/20 lens
- Quad/Quartile Analysis
- Zero Up P&Ls
- Complexity Reduction RIEs
- Overserving 80s
- Simplification Execution and Filters
- Resource Optimization/Deployment
- Operating Model Integration
- Understand and contribute to developing and deploying Ag strategic initiatives via 80/20 thinking
- Use 80/20 lens to drive continuous improvement funnel
- Work across IDEX to cultivate deeper understanding of 80/20 for self and others
The Expectations for Success:
Success will be measured by achieving financial and operational metrics including, but not limited to:
- Net standard margin growth
- Price Capture
- Growth of 80s and Target Accounts
- Quad-based objective success
- Timeliness of deliverables/projects
Ownership of the following organizational processes and databases are the responsibility of this role:
- Pricing Strategy, Maintenance and Administration
- Quotation Process
- Competitive Price Intelligence
The Requirements: Knowledge, Skills, and Capabilities
- Bachelors degree in related field (i.e. business, finance, sales, etc.) or equivalent experience
- Prior experience demonstrating excellent analytical and communication skills and the ability to translate complex situations into information that will support the profitability and growth of the business and support strategic insights
- Commercial acumen: understands the various channels and value- added roles they play
- Brand knowledge: possesses understanding of Banjo/KZValve customers, channels, competitors, and products
- Strong influencer: capable of create compelling cases based on intel and data
- Periscopes from vision to execution: capable of having a larger plan with clear end state goals and breaking it down to well defined, measurable actions; challenges status quo thinking
- Organized: creates and manages databases; understands data flows, and automates across systems; Advanced or Power User MS Excel proficiency level required; working knowledge of JDE and/or SAGE ERP system, MSDynamic 365 CRM highly desired
- Curious/Thirst for knowledge: constantly educating self in pricing strategies, market movements, 80/20 strategies and tactics, etc
- Networker: work across and support other IDEX BUs in 80/20 and Pricing strategies and methods
- Continuous improvement mindset: seeks efficiency in processes and acts on change
- Results driven with high personal accountability
- Prefer candidate with experience in several of these areas: marketing, commercial pricing & product management, customer service, or sales
