Pricing Analyst

Company Description

Illinois Tool Works Inc. (NYSE: ITW) is a global Fortune 200 diversified manufacturing company that delivers specialized expertise, innovative thinking, and value-added products to meet critical customer needs in a variety of industries.   ITW, with approximately 14.1 billion dollars in global revenues, operates 7 major segments with businesses in 57 countries that employ approximately 45,000 women and men. These talented individuals, many of whom have specialized engineering or scientific expertise, contribute to our global leadership in innovation. We are proud of our broad portfolio of more than 16,000 active patents. 

The ITW StampTech Fastener TM Division serves the major OEMs and Tier suppliers in the North American automotive market.  The division supplies stamped metal fasteners and engineered fastener assemblies that leverage our deep-draw stamping technologies.  The annual revenue for the division is approximately $160M.  Locations include Gallatin, TN, Lexington, KY & Naugatuck, CT.  

The Division drives profitability by leveraging its innovative solutions and application engineering.  In addition to ITW’s industry leading research and development capabilities, StampTech Fasteners TM enhances our customers’ competitive advantage by maintaining advanced engineering and manufacturing facilities in North America, exchanging product, process, and benchmarking information with sister units worldwide and ccontinually improving processes, material, and designs to ensure every product provides value and meets customer expectations.

Job Description

The Pricing Analyst is responsible for working with sales, customer service, finance, and the product engineering teams to determine competitive market prices for the StampTech Fastener’s products. The incumbent will evaluate product quality, competitor pricing and assess customer input to ensure products are priced appropriately and competitively. The Pricing Analyst will be responsible for working with the sales teams to establish sales prices and long-term pricing strategies.

• Serves as the primary leader for pricing activities relating to the division.
• Partners on long-range and annual plan development with the commercial, finance and product engineering teams. 
• Analyzes pricing data from industry standards, previous sales trends, competitors, and reports data to decision-makers
• Develop measurement tools to identify changing market trends and Identifies marketing strategies to increase profits
• Leads the forecasting, pacing, planning of price of the StampTech Fasteners division.
• Owns the price data tables and processes, with a focus on continuous improvement using USA tools
• Ensure alignment between sales, customer service, accounting of price update status
• Ensure the accuracy of the ERP & CRM systems relating to price data and update the ERP & Saphran system with new PO/pricing
• Coordinate pricing update of systems (ERP & CRM) & POs for index movements and new agreements
• Solicit, gather, and update matrix with index pricing
• Able to demonstrate business acumen while using analytics, technical writing, large amounts of data to make business recommendation or decisions.
• Able to do mathematical analyses and extensive research to solve or complex problems
• Update customer price lists by part number with new index information.
  Communicate new price lists to customers and gather and approve updated POs against price lists.

Qualifications

• Education/Experience:  Bachelor’s degree - B.A. /B.S. from four-year College or University with a concentration in mathematics, finance, accounting, or statistics.
• 1 or more years of experience with pricing or related experience
• Advanced level skill using MS Excel
• Ability to communicate effectively with all stakeholders from various organizational levels and functions.
• The ability to lead organizational and behavioral change to reach business goals.
• Proven analytical, evaluative, and problem-solving abilities.
• Exceptional customer service orientation.
• Personal accountability that aligns with the ITW employee development and leadership model.
• Strong analytical skills to compare sales trends and determine pricing data.
• Detail oriented, the ability to pay close attention to detail, remaining accurate with large collections of data.
• The ability to problem solves by recognizing patterns, trends, strategies and finding correlations where applicable.
• Excellent written and verbal communication skills.
• Willingness to travel domestically.

Additional Information

ITW Culture & Leadership Expectations:

• Exemplify and embody the ITW Leadership expectations  
• Able to thrive and collaborate in a decentralized and entrepreneurial culture 
• Able to take a high level of accountability and ownership for personal and company performance
• Able to communicate both verbal and written with clarity and simplicity
• Exemplifies a strategic-thinking approach and process to product management
• Able to make decisions and use critical thinking and analytical approaches when weighing options
• Nurturing an environment consistent with the ITW values and culture
• Is outcome driven and applies the 80/20 principles to prioritize work demands
• Pro-actively participating in ITW’s ‘toolbox’ initiatives (i.e., USa, 80/20 Philosophy, PLS, MRD, and In-Lining)
• Demonstrations a high level of leadership experience and emotional intelligence 

ITW is an equal opportunity employer. We value our colleagues’ unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential. 

As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship. 

All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.