Description

Summary:

The Pricing Manager is responsible for optimization and accuracy of product pricing in a multi-store retail organization.  Develops strategies for pricing to enhance profitability and achieve other organizational objectives. Responsible for pricing systems development and maintenance and accuracy within the point of sale (POS) software. Collaborates with the management team and other departments related to pricing and POS matters.

 Pricing Systems

• Coordinate the development and documentation of pricing policies and strategies. Make recommendations for approval by senior management.
• Provide input to senior management for setting annual and quarterly storewide margin targets.
• Translate storewide margin targets into sub-department targets to inform Pricing Department staff when pricing products and to ensure alignment with targets.
• Design and implement pricing systems and strategies in order to achieve accurate prices systemwide and to attain established margin goals.
• Develop, document and maintain Pricing Department guidelines and procedures.
•  Facilitate flow of information between departments for all pricing matters. Collaborate with other departments for efficient and effective pricing practices organization-wide.
• Develop systems to efficiently update product cost and to update prices on a timely basis.
• Ensure competitive pricing through regular monitoring of local market pricing among competitors.
• Assist Marketing and Merchandising departments in the implementation of promotional strategies. Provide input in design of promotional pricing. Prepare and deliver analyses measuring results of promotional pricing activities.
• Serve as leader throughout the organization to achieve pricing objectives, collaborating effectively with all internal stakeholders as needed.
• Ensure correct retail prices systemwide. Review price audits conducted by operations staff for adequacy, accuracy and completeness. Where necessary, follow up to ensure that corrections are made in a timely manner.

Point of Sales Systems 

• Design, implement and communicate financial analyses to demonstrate the effectiveness of pricing strategies and procedures.
• Oversee POS system maintenance by Pricing Department staff, ensuring accuracy of product and pricing information within the product database and effective maintenance of POS applications such as online shopping, deli made-to-order, and self-checkout.
• Coordinate with Front End Manager and staff to ensure efficient POS register functions for Cashiers and a positive experience for customers when interfacing with the POS system at the register.
• Collaborate with the IT Manager to ensure database integrity, licensing and information security.
• Direct Department staff in the design, analysis and distribution of POS reports to stakeholders as needed. 
• Develop and maintain a full working knowledge of the POS system. Train and assist other Co-op staff in direct use of POS system.
• Remain abreast of POS software alternatives and make recommendations to senior management regarding preferred solutions. Lead companywide efforts to update or replace POS systems.
• Update Jaspersoft reporting software for all in-store Marketing signage.

Category Management Collaboration

• Develop and maintain awareness of industry trends and local competitor offerings and prices.
• Optimize sales by sharing information with the Merchandising Manager about SPINS data, industry trends and other available category management data.
• Prepare and deliver reports and analyses measuring product movement to make recommendations to the Merchandising Manager regarding product selection.
• Collaborate with the Merchandising Manager and operations managers to implement product resets.

Personnel and Supervision

• Develop and monitor performance standards for staff. Establish and monitor goals for each staff member in accordance with Co-op protocol.
• Hire, supervise and schedule pricing staff to ensure adequate coverage to meet operational and department needs.
• Ensure adequate training for all department staff.
• Provide timely, thorough, and thoughtful performance evaluation to all staff members, ensuring timely corrective coaching measures or disciplinary actions in accordance with Co-op policies and procedures.
• Automate and streamline Department processes in order to utilize staff time efficiently and effectively. Actively seek opportunities to achieve Co-op objectives with minimal Department staff.

Other

• Develop strong relationships with internal stakeholders (including Merchandising, Marketing, Finance and Operations) to understand, and accommodate where possible, their needs and requirements related to product pricing.
• Remain abreast of pricing best practices by attending external workshops, networking with other pricing professionals, and actively studying industry publications.
• Work with the Director of Finance to develop annual Department goals and annual operating and capital expenditure budgets.
• Other duties as assigned.

Requirements

Education and/or Experience:

• Minimum 5 years related experience and/or equivalent combination of education and experience.
• Knowledge of pricing tools and techniques.
• Strong communication, negotiation and stakeholder management skills
• Demonstrated supervisory experience
• Bachelor’s degree in business, mathematics, statistics or a related discipline, preferred but not required

Language Skills:

• Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals.
• Ability to write routine reports and correspondence.
• Ability to speak effectively with customers or employees

Mathematical Skills:

• Ability to add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions, and decimals.
• Ability to compute rate, ratio and percent.

Reasoning Ability:

• Ability to think strategically and to communicate and implement strategic decisions.
• Ability to deal with a variety of variables in order to solve practical problems
• Ability to think critically in order to plan, synchronize and execute complex projects with a diverse set of individuals in varying roles.
• Ability to create and analyze complex data and reports
• Ability to work independently and efficiently while maintaining a high degree of accuracy

Computer Skills:
A qualified individual will have strong knowledge of:

• Point of sale software
• Microsoft 365 suite of software applications, including an intermediate to advanced knowledge of Excel