Working in support of the Medical Devices US Sales Division, the Strategic Pricing Analyst will work directly with Sales, Sales Management, Sales Operations, Healthcare Economics, Marketing, and Finance to apply business management principles and financial concepts to identify and recommend pricing strategies that maximize the company’s performance against sales and profit goals. The ideal candidate must have the ability to proactively research, analyze, and interpret pricing data to produce substantiated recommendations. This position will also play a key role on various cross-functional team projects that will require the ability to work with individuals at all levels of the organization.
Pricing Strategy Development and Decision Making
- Supports the Strategic Pricing Manager with the development and implementation of Pricing Strategies through financial modeling and statistical analysis.
- Assists with deal evaluation and creation of analytical deliverables.
- Actively participates on a cross-functional team to develop a price setting and approval process within USD.
- Participate in price council meetings to review pricing requests that fall outside general guidelines.
- Assists with training sales, national and strategic account management, and other Abbott parties on pricing tools, policies, and procedures.
- Perform quantitative analysis and provide pricing recommendations and consultative support to area and regional Sales Leaders to achieve desired goals.
- Analyzes impact of pricing changes on Abbott’s financial results.
- Execute analysis of net contract sales, market share, and contract pricing within USD.
- Supports contract profitability forecasting. Contributes to continuous improvement of methodologies by measuring forecast versus actual results and benchmarking against industry practices.
- Builds forecast models, pricing sensitivity and elasticity analysis for specific new or existing product offerings.
- Perform comparisons to industry/company benchmarks to identify pricing opportunities.
- Monitors, analyzes and reports Abbott and competitive products ASP and pricing trends.
- Develop and publish pricing KPI’s, providing context and analysis on the drivers and performance.
- Provides reports and analysis to department and senior management as requested.
- Provides analytics and benchmarks to assist in establishing pricing strategy and tactics.
Pricing Tool Development
- Build and maintain merchandised system “bundles” in SAP based on product marketing guidance, also known as SAP Variant Configuration materials.
- Along with business operations partners, execute process improvement programs to streamline the flow of pricing system operations.
- Develop tools and pricing models to analyze pricing requests.
- Supports business needs with the development of tools and methods that will result in more accurate customer profitability assessment and decision-making.
- Follows all management approved processes and procedures; alerts management when circumstances require deviation to the approved processes and procedures.
General Qualifications: A 4 year college degree and three to five years experience in business, financial, or strategic pricing analysis required, or equivalent combination of experience and education.. Knowledge of statistical modeling and demonstrated ability to quickly identify relevant details while working with large date sets. Demonstrated ability to manage multiple projects simultaneously: organization, attention to detail, ability to work under general supervision, superior communication and presentation skills, deal with unresolved issues, and effectively communicating and maintaining rapport with Sales Representatives and Managers, National and Strategic Account Management, and all levels of personnel within USD and other divisions. Demonstrated proficiency in operating a personal computer including advanced proficiency with Business Objects, Microsoft Office Suite, Visual Basic (VBA), SQL, SQL Server, Access. High degree of originality and ingenuity required.
Desired Qualification: Preferred degree in Statistics, Economics, Mathematics, Finance or Business (or work experience equivalent to the knowledge obtained in one of these fields). Advanced degree in business or statistics, previous experience in the medical device industry, and Six Sigma green belt or black belt certification a plus. Familiarity with pricing and product operations modules in SAP. Experience with MS SQL Server, VBA for Office, and VB.Net also valued.