Develops and modifies comprehensive retail pricing strategies of high complexity based on volume, product lines, competition, or category penetration for prescription drug category by determining known value items to be included in strategy; benchmarking comparable items sold by competition; comparing current gap versus key competitors; determining perceptible gap; utilizing existing Walmart pricing systems to develop, improve, or modify strategy to maximize profit margin; ensuring strategies meet category and company objectives; and recommending promotion pricing strategies.
Manages the analysis of performance of the current pricing strategy for prescription drug category with management guidance by reviewing current information on sales, profits, margins, in-stock, mark-up, and mark-down; and maintaining up-to-date statistics based on defined performance metrics.
Manages implementation of new pricing execution and pricing optimization systems and tools to serve the unique needs to the prescription business, including development of requirements, user stories, potential vendor selection, system implementation and close collaboration with technical partners.
Oversees the communication of pricing information and strategies for high complexity categories by presenting information to pricing and merchandising leadership to persuade and influence others towards recommended pricing strategies; serving as a spokesperson on Walmart's competitive price gap and strategy performance on items in assigned categories; and providing clear performance measures of executed strategy to multiple levels of management.
Oversees the execution of promotional pricing strategies for RX business unit by collaborating with cross-functional partners to create promotional strategies and events; participating in item selections and pricing validation; validating item information and advertised pricing; evaluating item selections and ensuring consistency and compliance with applicable laws, company philosophy, and pricing strategies; determining needed changes; determining solutions to adapt to changing business needs ; utilizing systems to enter item data; collaborating with internal teams to ensure system functionality; troubleshooting system issues; ensuring system functionality at store-level and resolving issues.
Develops Pricing personnel by providing training on pricing strategy processes and tools; and preparing and teaching boot camp; reviewing and providing feedback on pricing strategies; and assisting in preparation of analytics.
Minimum Qualifications...Outlined below are the required minimum qualifications for this position. If none are listed, there are no minimum qualifications.
Minimum Qualifications: Bachelor’s degree in Economics, Accounting, Finance, Business, Marketing, or related field and 4 years’ experience in merchandising, retail pricing, sourcing, operations management, finance, marketing, or related area OR 6 years’ experience in merchandising, retail pricing, sourcing, operations management, finance, marketing, or related area.
Preferred Qualifications...Outlined below are the optional preferred qualifications for this position. If none are listed, there are no preferred qualifications.
Merchandising, Microsoft Office, Retail Industry, Supervising Associates, Supply Chain, Working on cross-functional teams or projects
Masters: Accounting, Masters: Economics, Masters: Finance, Masters: Marketing