What are the responsibilities and job description for the Pricing Analyst position at QuestSpecialty?
Position Overview
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The Pricing Analyst in a chemical manufacturing environment is responsible for developing and executing pricing strategies for chemical products based on raw material costs, market demand, regulatory factors, and competitive positioning. This role plays a critical part in protecting margins while ensuring pricing aligns with customer contracts and market conditions.
Essential Duties and Responsibilities
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- Collaborate with Operations and Procurement to develop and maintain accurate standard product costs, including raw materials, labor, overhead, and packaging.
- Provide pricing for products based upon standard profit margin ranges, obtaining approval from the President for deviations outside of that range.
- Update product costs based on fluctuations in raw material costs and supply chain inputs.
- Complete costing for new product development and reformulations.
- Work with executive management to maintain pricing models that achieve targeted gross margin and contribution margin objectives.
- Analyze product-level profitability based on actual production and sales data.
- Support Finance with budgeting, forecasting, and margin analysis.
- Maintain pricing and costing data within ERP and pricing systems.
- Ensure compliance with regulatory and contractual pricing requirements
- Other duties as assigned
Required Education and Experience
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- Bachelors degree in supply chain, finance, business, engineering or a related field
- Understanding of cost accounting and margin analysis
- Experience working within in an ERP system
- Proficiency in Microsoft Office Suite
- Attention to detail and accuracy.
- Strong communication skills
- Ability to manage multiple priorities
Physical Requirement
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Prolonged periods of sitting at a desk and working on a computer. The ability to view and analyze data on computer screens for extended periods. Occasional standing, walking, or moving within an office environment. Ability to communicate clearly (verbal and written) with team members and stakeholders. Occasionally lift or move light office items (typically up to 10–15 pounds), such as laptops or files.