Job Summary:
The Pricing/Inventory Specialist is responsible for managing and optimizing pricing strategies and inventory levels to maximize profitability and efficiency. This role involves analyzing market trends, competitor pricing, and inventory data to make informed decisions. The specialist will collaborate with various departments, including sales, marketing, and supply chain, to ensure accurate pricing and optimal inventory management.
Key Responsibilities:
Pricing Strategy Development:
Develop and implement pricing strategies based on market research, competitive analysis, and business goals.
Monitor and adjust prices to respond to market trends and changes in demand.
Collaborate with sales and marketing teams to establish promotional pricing and discount programs.
Inventory Management:
Maintain optimal inventory levels to meet customer demand while minimizing carrying costs.
Monitor inventory turnover rates and implement strategies to reduce excess and obsolete inventory.
Work closely with supply chain and procurement teams to ensure timely replenishment of stock.
Data Analysis and Reporting:
Analyze pricing and inventory data to identify trends, opportunities, and areas for improvement.
Prepare regular reports on pricing effectiveness, inventory status, and sales performance.
Use data-driven insights to make recommendations for pricing adjustments and inventory optimization.
Collaboration and Communication:
Work with product development teams to understand new product introductions and their impact on pricing and inventory.
Communicate pricing changes and inventory policies to sales teams and other stakeholders.
Coordinate with finance and accounting departments to ensure pricing accuracy and alignment with financial goals.
Systems and Tools Management:
Utilize pricing and inventory management software to automate and streamline processes.
Ensure data accuracy and integrity within the pricing and inventory management systems.
Stay updated on industry best practices and emerging technologies related to pricing and inventory management.
Qualifications:
Bachelor’s degree in Business, Finance, Economics, Supply Chain Management, or a related field.
Minimum of 2-5 years of experience in pricing analysis, inventory management, or a related field.
Experience with pricing and inventory management software and tools.
Skills:
Strong analytical and problem-solving skills.
Proficiency in data analysis and statistical software (e.g., Excel, SQL, Tableau).
Excellent communication and interpersonal skills.
Ability to work independently and collaboratively in a team environment.
Detail-oriented with strong organizational skills.
Knowledge of supply chain processes and principles.
Preferred Qualifications:
Experience in an e-commerce industry.
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