Pricing Coordinator

Location: NM Favorite Brands

Revision Date: April 2024

FLSA: Non-Exempt

Overview

We are an organization committed to providing customer service that promotes humble, aggressive, honest innovations with various partnerships, local and nonlocal.

General Description

Favorite Brands Pricing Coordinator will play a pivotal role in ensuring accurate and competitive pricing strategies, managing pricing databases, and collaborating with various departments to optimize profitability, market competitiveness and supporting management. This position requires strong attention to detail, excellent communication skills, and the ability to thrive in a fast-paced environment.

This class works under general supervision, collaborating work methods and approvals with pricing.

Duties and Responsibilities

The functions listed below are those that represent the majority of the time spent working in this position. Management may assign additional functions related to the type of work of the position as necessary.

• Conduct comprehensive analysis of market trends, competitor pricing strategies, and customer preferences to inform pricing decisions.
• Biweekly review of inventory with Warehouse Manager
• Bi-weekly purchase ordering with suppliers.
• Develop and recommend pricing strategies that align with business objectives, market dynamics, and product positioning.
• Monitor pricing performance and adjust as necessary to maximize profitability and market share.
• Collaborate with sales, marketing, and finance teams to establish pricing guidelines and procedures.
• Coordinate the implementation of pricing changes across all distribution channels and ensure accuracy and consistency.
• Manage price lists, contracts, and agreements to ensure compliance and minimize pricing discrepancies.
• Maintain pricing databases and systems, ensuring accuracy and integrity of pricing information.
• Regularly update product pricing, promotions, and discounts based on business requirements and market dynamics.

Generate reports and analyze pricing data to identify opportunities for improvement and optimization.

• Work closely with sales teams to provide pricing support, address customer inquiries, and resolve pricing-related issues.
• Collaborate with marketing teams to develop pricing strategies that support promotional activities and product launches.
• Partner with finance teams to evaluate pricing impact on revenue, margins, and profitability.
• Stay informed about industry trends, regulatory changes, and market developments that may impact pricing strategies.
• Proactively identify opportunities to streamline pricing processes, improve efficiency, and enhance pricing effectiveness.
• Participate in cross-functional projects and initiatives aimed at driving business growth and improving overall performance and supporting in house management.
• Staying flexible to meet the needs of the business.
• Performs other duties as assigned.

Minimum Education and Experience Requirements

• Required High School Diploma or GED Certificate; Preferred college degree in Business Administration, Accounting, Finance, or possession of any equivalent combination of education, training and experience which provides the requisite knowledge, skills, and abilities.
• Bilingual in Spanish preferred.

Required Knowledge and Abilities

• Knowledge of products, competitive conditions, market trends and be able to cultivate an action plan to grow the customer’s business.
• Must obtain a WESET Certification in Spirits and Wine within a year of employment.
• Strong communication skills and computer skills with Microsoft systems.
• Strong team player and the ability to get along with co-workers.

Physical Demands

• Performs sedentary work that involves walking or standing some of the time and involves exerting up to 50 pounds of force on a regular.
• Employees are occasionally required to sit and climb or balance. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.
• Exposure to weather and temperature variations.
• To help load/unload beer, spirits, wine cases at account locations.

Unavoidable Hazards (Work Environment)

Involves routine and frequent exposure to:

• • Bright/dim light; Dusts and pollen.
  • Extreme heat and/or cold; Wet or humid conditions.
  • Extreme noise levels
  • Vibration; Fumes and/or noxious odors.
  • Traffic
  • Heights.
  • Other extreme hazards not listed above.

Special Certifications and Licenses

• Must possess and maintain a valid state Driver's License with an acceptable driving record.
• Must be able to pass criminal background and drug screen.

Reports to: Directly to location and General Manager.

Favorite Brands provides equal employment opportunities to applicants and employees without regard of race, color, religion, sex sexual orientation, gender identity, national origin, protected veteran status, or disability.