Pricing Analyst
Chicago, IL
Finance – Administration /
Permanent Full-Time /
Hybrid
IRCA is a prominent international provider of semi-finished ingredients for the bakery, pastry, and gelato markets. They cater to independent producers as well as large food manufacturers, including consumer packaged goods (CPG) companies. The company's core product offerings consist of chocolate, chocolate decorations, creams, pastry mixes, gelato ingredients, and various other bakery and pastry ingredients.
Headquartered in Italy, IRCA was acquired by Advent International, a global private equity firm, in July 2022. The company has demonstrated a strong history of growth over the past decade. As part of its growth strategy, IRCA made two bolt-on acquisitions in 2022. They acquired Cesarin, a provider of candied fruits, and Anastasi, a supplier of pistachio ingredients. These acquisitions expanded IRCA's product portfolio and market reach.
More recently, IRCA acquired the leading manufacturer of sweet and cereal products in Europe and the US. The target company focuses on high-value specialty ingredients for the Food Manufacturers segment. Their product range includes sweet particulates, chocolate confections, baked inclusions, variegates, and fruit purées. This deal, successfully completed in March of 2023, is a transformative move for IRCA, establishing them as a global leader in the semi-finished ingredients industry.
With this acquisition, IRCA has a combined revenue of €1 billion in 2023 and a presence in 22 manufacturing facilities across Europe, the US, and Vietnam. This expanded manufacturing footprint and diversified product portfolio positions IRCA as a key player in the market, serving a wide range of customers in the bakery, pastry, and gelato sectors, as well as food manufacturers.
The Pricing Analyst will be part of a pricing team representing a vital link between sales, procurement, R&D and operations to provide new products costing and pricing quotes, as well as price updates, budgeting and margins control support.
This is a Hybrid role with our office located in River North, Chicago.
Responsibilities
- Perform costing and pricing of new products based on established pricing strategies and customer requirements
- System implementation and usage M3, CPQ
- Collaborate with Procurement to ensure correct raw materials prices and sufficient coverage is present in the context of new price quotes or price updates
- Align with R&D to ensure proposed recipes combine customer requirements and optimal costing
- Collaborate with operations to ensure appropriate conversion costs are applied to total costing model, and identify cost opportunities to increase price competitiveness
- Develop pricing recommendations to support bids for customers
- Collaborate with finance and sales team on pricing process development and maintenance
- Conduct periodic pricing reviews aligned with margin preservation strategies considering costs inflation and technology evolution
- Collaborate with Sales and Marketing to monitor and analyze competitor pricing strategies, promotions, and market trends to recommend appropriate pricing adjustments or actions to maintain competitiveness
- Safeguard overall management of discounts and promotions to maintain profitability and competitiveness
- Prepare regular reports and presentations on pricing performance, pricing and profitability trends
- Work closely with procurement, R&D and operations to audit forecasted vs actual cost deviations
- Support yearly budget and other forecast activities
Qualifications
- Bachelor’s degree in business administration, Finance, Economics, or a related field. Advanced degree or relevant certifications would be a plus
- 3-5 years of experience as a Pricing Analyst or in a similar analytical role involving pricing / sales analysis, preferably in a manufacturing-oriented organization
- Strong organizational skill with an acumen of process development and management
- Strong analytical skills with the ability to interpret complex data sets and make data-driven recommendations
- Proven experience in cross-functional teams working with and supporting sales teams, procurement and operations; strong business acumen and interpersonal skills
- Proficiency in Microsoft Excel for data analysis, modeling, and reporting. Experience with pricing software and ERP systems is a plus
- Travel, occasional travel may be required, able to work hybrid.
Irca Group offers career growth opportunities as well as competitive compensation and benefits:
Medical, Dental, & Vision, 401(k) matching, Paid Vacation, and Holidays, Employee Education Tuition Reimbursement Program
