| Job Title: | Pricing & Revenue Optimisation Engineer |
| Company: | The Foschini Group |
| Job Reference: | Bash |
| Location: | Cape town, ZA |
| Employment Type: | Full Time |
| Date Posted: | 2024-11-01 |
| Closing Date: | 2024-11-30 |
| Salary: | ZAR 5000 - 10000 per month |
Pricing & Revenue Optimisation Engineer - Job Description
WHAT YOU’LL DO:
Develop Optimization Models: Lead the creation of dynamic pricing, promotion, and revenue optimization models using advanced statistical and mathematical techniques to ensure competitiveness while maximizing profitability.
Revenue & Profit Analysis: Utilize testing methodologies and analytical approaches to assess the impact of pricing strategies on revenue, margins, and customer lifetime value.
Drive Strategic Insights: Leverage data analysis and optimization techniques to provide actionable insights that will shape retail buying and planning processes.
Trend and Data Analysis: Analyze and interpret sales, customer, and market data to provide insights that drive retail strategy. Monitor the effectiveness of strategies and campaigns, suggesting adjustments to improve sales and profitability.
Forecasting: Assist in forecasting sales, demand, and product performance based on historical data and market conditions to inform inventory and purchasing decisions.
Assortment Optimization: Examine customer behavior and buying trends to identify opportunities for refining product assortment, ensuring alignment with market demand and maximizing sales potential. Prioritize category expansion strategies for maximum return.
Basket Size Optimization: Identify and implement cross-selling strategies to enhance order value, purchase frequency, and overall profitability by leveraging customer insights and purchasing patterns.
Collaborate Across Teams: Partner closely with retail, supply chain, and data teams to ensure that algorithms and strategies align with business goals like margin growth and inventory efficiency.
Develop Optimization Models: Lead the creation of dynamic pricing, promotion, and revenue optimization models using advanced statistical and mathematical techniques to ensure competitiveness while maximizing profitability.
Revenue & Profit Analysis: Utilize testing methodologies and analytical approaches to assess the impact of pricing strategies on revenue, margins, and customer lifetime value.
Drive Strategic Insights: Leverage data analysis and optimization techniques to provide actionable insights that will shape retail buying and planning processes.
Trend and Data Analysis: Analyze and interpret sales, customer, and market data to provide insights that drive retail strategy. Monitor the effectiveness of strategies and campaigns, suggesting adjustments to improve sales and profitability.
Forecasting: Assist in forecasting sales, demand, and product performance based on historical data and market conditions to inform inventory and purchasing decisions.
Assortment Optimization: Examine customer behavior and buying trends to identify opportunities for refining product assortment, ensuring alignment with market demand and maximizing sales potential. Prioritize category expansion strategies for maximum return.
Basket Size Optimization: Identify and implement cross-selling strategies to enhance order value, purchase frequency, and overall profitability by leveraging customer insights and purchasing patterns.
Collaborate Across Teams: Partner closely with retail, supply chain, and data teams to ensure that algorithms and strategies align with business goals like margin growth and inventory efficiency.
WHO YOU ARE:
This job is for you if you have:
Mathematically Proficient: You have strong expertise in statistical analysis and optimization, with a deep understanding of pricing elasticity and revenue optimization.
Analytical Thinker: You thrive on deep data analysis, using quantitative methods to drive insights and make data-backed decisions.
Problem Solver: Skilled in optimization techniques like linear programming and stochastic modeling, you know how to turn complex business problems into scalable solutions.
Collaborative Leader: You're excited to work cross-functionally, bringing together teams from engineering, retail, and supply chain to create impactful, data-driven pricing strategies.
Strategic Visionary: You understand the broader market dynamics and can develop strategies that balance customer experience with profitability.
What you will need
Experience: 5+ years in data science, analytics, operations research, or related roles.
Qualification: Bachelor’s or Master’s degree in Operations Research, Statistics, Applied Mathematics, or a related field. Ph.D. preferred.
Expertise in Pricing Strategies: Experience with testing methodologies, revenue optimization, or pricing strategies in a commercial setting.
Advanced Modeling Skills: Proven ability to build and deploy statistical models in production environments.
Data Handling Abilities: Strong skills in data analysis, working with large datasets, and translating data into actionable insights.
Industry Knowledge: Experience in retail, e-commerce, or supply chain is a bonus, bringing valuable context to the role.
0 Comments