Team Member - Pricing Management

Job Description

Analytics in Pricing of India Business RX Drive quarterly and annual price hike in coordination with CFMs aiming topline benefit in time. Provide Insights to Business on the products pricing governed by NPPA and make informed decisions. Support business to achieve the Top line and bottom-line numbers as per therapy budget via pricing. Driving analytics and possibility of top line benefit by proper planning of Hike & MRP Implementation on new stocks. Maintaining Price Master with details of MRP, Margins alongwith hike due date for all products. Key Accountabilities (2/6) Addressing notifications and notices of NPPA Responsible for addressing notification issued by government (NPPA) and complying with all the regulatory requirement. Addressing demand notices received from NPPA with supporting and reasoning. Preparing submissions to be made to NPPA for Preliminary Notices received & other data asked for by NPPA Help the management in decision making with respect to new launches and upcoming regulatory changes. Taking action on all price related notifications and providing the Business with Insights as regards Impact & Mitigation Plan to reduce the impact on Business Key Accountabilities (3/6) Automation & Simplification Leading project on automation of existing data into single platform and driving insights from it. Driving Automation Project through vendors and successfully completing the UAT & Validation and ensuring Go-Live of the reports developed. Key Accountabilities (4/6) Provisions & MIS Making timely provisions for MRP Audit related cases & products which are Launched at Risk. Anticipating the Demand that can be raised in future and making provisions in books after discussion with Legal Team. Key Accountabilities (5/6) Critical Stake holder management Resolving the queries of Internal & External Auditors by maintaining proper records & working out calculations as is necessary. Ensuring MRP updations in system at material level for all products & at batch level for P2P & LL products & providing approvals wherever necessary for the MRP & stock acceptance. Monitoring the process change for Hike and ensuring that Inventory is packed with correct MRP as per defined process. Taking effective & immediate decisions on any deviations in MRP and providing suggestions & action plan to Depots Major Challenges Dealing with multiple stakeholders across Finance, Supply Chain, Legal & Corporate Affairs and Business teams Overcome by : Being proactive in liaising between the stakeholders Continuous changes in regulations, notifications and notices on regular basis Overcome by : Regularly track the new regulations affecting Cipla and proactive project management for logical closure of actions Align the technical position agreed on consensus with Legal & Corporate Affairs Team and business teams Overcome by: Constant follow-up with the teams and regular feedback to agree and arrive on a consensus for setting price Key Interactions (1/2) Finance teams (CFMs/CFHs) Corporate Affairs Legal Supply Chain Management One India CEO and CFO Key Interactions (2/2) Consultants (automation projects) P2P vendors Dimensions (1/2) Manages pricing for India Rx with revenue of ~9000 Cr Dimensions (2/2) Key Decisions (1/2) Submit relevant data to the external consultants after sufficient analysis Review of the TP report and highlighting the key observations to Head - Taxation/Tax Lead Review the TP analysis prepared by the consultants Conduct functional interviews for certain transactions Key Decisions (2/2) Formalise the transfer pricing policy in consultation / post review of the Head-Tax Formalise the TP Compliance Master and first time CbCR and other BEPS Action Plan Arranging for the workshops to business stakeholders on Transfer Pricing and key developments Finalising the terms of the agreements meeting transfer pricing perspective Education Qualification Chartered Accountant / MBA (Finance) Relevant Work Experience At least 4-8 years of work experience Experience in India Pharma Pricing would be an advantage Good analytical skills Understanding and interpretation of regulations and laws