Manager of New Product Development
1010 Johnson Dr. Buffalo Grove, IL 60089
- Manages and coordinates product development initiatives.
- Evaluates and resolves technical feasibility, design optimization, and production issues.
- Ensures that labeling and marketing/promotional literature match product specifications.
- Researches and monitors existing client base and industry developments and identifies potential new product opportunities.
- Works with other departments to establish a design, technology, product development, and vendor strategy.
- Manages project budgets and prepares financial analysis reports for top management.
- Relies on experience and judgment to plan and accomplish goals.
- Performs a variety of tasks.
- Leads and directs the work of others.
- A wide degree of creativity and latitude is expected.
- Works as an integral part of company' s Engineering and Sales/Marketing Groups.
Essential Duties and Responsibilities: Include the following. Other duties may be assigned.
- In collaboration with Engineering, Sales & Marketing, and/or Business Development develops new products to maintain or grow company market leadership position(s).
- Develops technology roadmap to drive prioritization of NPD activities based on market needs, product obsolescence, and competitive threats, etc. ensuring alignment with company Strategic Plan.
- Reviews project proposal or plan to determine time frame, funding limitations, procedures for accomplishing project, staffing requirements, and allotment of available resources to various phases of project.
- Obtain and/or prepare market research on proposed new products/markets.
- Champion launch of new products, supporting Sales and/or Business Development in order to achieve budgeted sales targets.
- Establishes work plan and staffing for each phase of project, and arranges for recruitment or assignment of project personnel.
- Confers with project staff to outline work plan and to assign duties, responsibilities, and scope of authority.
- Directs and coordinates activities of project personnel to ensure project progresses on schedule and within prescribed budget.
- Supervise, develop, motivate and hold accountable direct reports
- Establish and Maintain Department Budget Maintain Department Project Schedules – Enforce use of MS Project by direct reports
- Responsible for all NPD activities including project management; engineering; interface with product partners, consultants, suppliers and other relevant outside resources.
- Implement new Corporate Development Framework and maintain NPD process including all corresponding documentation: Project Team; Project Scope; Project Charter; Phase Sign-Offs etc.
- Hold regularly scheduled NPD review meetings with company staff and other key participants to provide regular updates on project status, schedules, risks etc.
- Create NPD bowling chart to reflect company STRAP and maintain chart to track project progress and current status.
- Hold regular PDS review meetings with engineering staff and NPD project management and teams.
- Day to day collaboration with Design Standards & Application leads to assess and agree upon project priorities and resource utilization.
- Bachelor' s degree (B. S.) in engineering (Mechanical or Electrical), from four-year college or university; MBA or equivalent.
- Project Management Professional (PMP) Certification is a plus, with demonstrated success in Product Management area (P&L responsibility for key product lines within a larger organizational structure).
- Familiar with a variety of the field' s concepts, practices, and procedures.