Description:
Job Summary:
The Director of Product Development is responsible for creating new products in the Grocery and Home Category. This individual will be responsible for end to end negotiating of the Product Development life-cycle including but not limited to: manufacturing costs, raw material sourcing, product components and labels. This position identifies vendors to work with in creating new products, product lines and brand strategies. Responsible for ensuring product design is consistent with market trends, business strategy and ensures product quality and efficacy. This position will manage multiple, complex projects in a fast paced environment.
Job Expectations:
- Excellent Negotiation Skills
- Build strong strategic relationships and maintain effective communications with suppliers
- Work with strategic partners to identify novel ingredients, products and formats for various categories
- Evaluate supplier core competencies and competitive positioning, to drive strategic sourcing goals
- Work with supply chain and marketing to generate new ideas and sourcing options
- Execute initiatives with our suppliers to ensure product quality and efficacy
- Understanding industry regulations (FDA, USDA, 21CFR) and global regulations that could impact our products. Understand manufacturing practice and quality management requirements
- Understand labeling requirements and food labeling regulations
- Understand the requirements and
- Establishes regular communications stream and follow-up with all team/project members
- Partner with Marketing and iHerb (marketing and purchasing) to develop new products to evaluate. Suggest new product ideas/ingredient suggestions and communication strategy on products
- Establish target net cost and product SRP respectively
- Build awareness and communicate emerging trends in the marketplace regarding demand for key ingredients – any potential sourcing supply issues due to the global marketplace. Evaluate market and supplier information regarding the potential impact of material changes. Provide this feedback to be able to maintain a consistent supply to avoid market price fluctuations
- Prepare product formula documentation to send out for quotation and support communications with contract manufacturers during the quotation and development process
- Ensure formulations are high quality, cost effective, efficacious and meet brand guidelines
- Plan and maintain a running three (3) calendar for new product and revised product launches
- Act as primary liaison with Marketing, Legal and Quality Assurance departments during the product development phase
- Create strategy for product development team for future platform growth in key consumer need state areas