Parts Pricing Undergradute Review

Support market research and regular analysis of competitor’s vehicle manufacturing and supplier’s aftermarket parts, helping to ensure parts pricing is competitive.
Support pricing and profit analysis within the UK parts business to manipulate large data sets to synthesize results and present recommendations to improve gross profit margins.
Support price setting parts in line with fixed and variable discount margin structures, incorporating F/EX rates.
Manage administration of key pricing systems and parts data feeds such as IBM rumba.
Support monthly analysis of parts pricing files ensuring minimum gross profit percentage is achieved.
Support managing reporting tools and process improvement to increase efficiency and highlight profitable growth opportunities.
Support of development and maintenance of Smart Pricing forecasts for consolidation and implementation into budgeting process.
Support of reviewing, development, and implementation all pricing policies that are necessary to ensure that Parts Operations is compliant with the relevant legal and other governing standards.
Maintaining and developing strong relationships with key internal and external business stakeholders.
Check and confirm accuracy of HME-UK gross revenue and gross profit data reports.
Support the wider Service and Parts Operation Department in the planning and launch of current and future products and major projects.
Support the Service & Parts Operations Department with raising and administering PO’s to maintain payments to our outside partners within set timescales in line with profit and loss (P&L) budget submissions.

I had high sense of task delegation, it included monthly PDCA presentations to management about monthly business performance. The aim of those presentations was to express the performance for our department and highlight any key movements or areas which require more focus. I was nervous before the first presentation however, due to the positive attitude and want to further expand my skillset, I was able to step out of my comfort zone. Working on loss making parts and adjusting the price to bring in positive gross profit. Working along an external company and creating a reporting dashboard for daily access to management, facing significant difficulties due to data sources. To support the creation of the dashboard, I had to create a Excel spreadsheet supporting the data input to the dashboard.

Improved written and verbal communication
Improved organisational skills, with ability to work to tight deadlines under pressure
Improved team player skills
Positive, self-motivated, and confident personality
Significantly improved knowledge of data analytical tools
Ability to interpret pricing and financial data in a clear and concise manner
Advanced Excel user

Upon joining the company, I was frightened about managing new relationships with new colleagues and adapting in the company. However, as I joined the company I was pleasantly surprised about the friendly attitude of the people at Honda. My entire team has been very supportive and very quickly I was feeling like a normal employee in the team an not just undergraduate.

The placement has allowed me to understand the theories I was able to learn during my studies at university, for example Types of Leadership Styles and Maslow’s hierarchy of needs. I work best under quite a structured and autocratic management style as I feel more comfortable with some direction and understanding of what is required, rather than total autonomy. However, I do enjoy some freedom to work proactively and self-develop, as my line manager has developed transformational leadership which has suited me perfectly. The working culture in my team and Honda really suited me as it combines a friendly and quite casual approach with the right amount of professionalism and guidance, involving regular constructive feedback.

Being involved and working on variation of tasks across different areas, has improved my understanding of how my role and the team fits in to the wider organisation. I was also able to improve my personal skills such as excel, communication and analysis. As my placement at Honda has come to an end, reflecting on the year full of experience, I am certain I will carry those skills and feedback, when entering another professional environment after graduation, and further develop them during my career path.

Yes