Market Analyst - Rock City Hotel

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At Rock City Hotel, we pride ourselves on being a beacon of 5-star luxury. Our commitment to excellence is reflected in every facet of our operations. From the elegance of our accommodations to the seamless service provided by our dedicated team, Rock City Hotel is more than a destination; it's a lifestyle.

Job Description

Report to: Procurement Manager

Key Responsibilities:

• Market Research and Analysis:
  • Conduct in-depth market research to assess market dynamics, trends, and competitive landscape in relevant product and service categories, including hospitality supplies, food and beverage products, and operational services.
  • Collect and analyze data from various sources, such as industry reports, supplier catalogs, market surveys, and trade publications, to identify key market players, pricing benchmarks, and emerging trends.
  • Monitor market supply and demand dynamics, geopolitical factors, and regulatory developments that may impact procurement decisions and supplier relationships.
• Supplier Evaluation and Selection:
  • Evaluate potential suppliers and vendors based on criteria such as product quality, pricing, reliability, financial stability, and sustainability practices.
  • Conduct supplier assessments, including performance evaluations, risk assessments, and capability analyses, to ensure alignment with organizational goals and procurement requirements.
  • Analyze supplier contracts, terms, and conditions to identify opportunities for negotiation, cost reduction, and value enhancement.

• Pricing Analysis and Cost Optimization:
  • Analyze pricing trends, cost structures, and market benchmarks to assess the competitiveness of supplier pricing and identify opportunities for cost optimization and savings.
  • Monitor commodity price fluctuations, currency exchange rates, and market volatility to anticipate pricing risks and opportunities in procurement decisions.
  • Conduct price comparisons, bid analyses, and total cost of ownership (TCO) assessments to support sourcing decisions and contract negotiations.
• Forecasting and Demand Planning:
  • Forecast demand for goods and services based on historical data, market trends, and business requirements to support procurement planning and inventory management.
  • Collaborate with internal stakeholders, including operations, finance, and sales, to develop accurate demand forecasts and procurement plans that align with business objectives and operational needs.
  • Identify and address demand variability, seasonality, and supply chain risks through scenario analysis and contingency planning.
• Reporting and Communication:
  • Prepare and present market analysis reports, supplier performance dashboards, and procurement insights to the Procurement Manager and senior management, highlighting key findings, trends, and recommendations.
  • Communicate market intelligence, supplier evaluations, and procurement strategies effectively to cross-functional teams and stakeholders to facilitate informed decision-making and alignment.
  • Collaborate with the Procurement Manager and procurement team to develop sourcing strategies, negotiate contracts, and implement procurement initiatives that drive value and achieve organizational goals.

Required Skills or Experience

Qualifications/Skills:

• Bachelor's degree in Business Administration, Supply Chain Management, Economics, or a related field. A Master's degree or certification in procurement or market research is preferred.
• Minimum of 3 years of experience in market analysis, procurement, or supply chain management, with a focus on strategic sourcing and vendor management.
• Strong analytical skills, with proficiency in data analysis, financial modeling, and market research methodologies.
• Experience with procurement software and tools, such as e-sourcing platforms, spend analytics, and supplier management systems.
• Excellent communication, presentation, and interpersonal skills, with the ability to convey complex information clearly and persuasively.
• Strong organizational skills and attention to detail, with the ability to manage multiple projects and priorities in a fast-paced environment.
• Ability to work independently and collaboratively, demonstrating initiative, problem-solving skills, and a results-oriented mindset.

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