Product Manager

About this role

Product Manager
Location: Rockford. IL

 

Salary ranges: $90 000- $120 000/ year

About Hydraulic Technologies

Hydraulic Technologies is a global leader in the manufacturing of high-pressure hydraulic pumps, tools, shop equipment, workholding automation, and railway track systems. Our renowned product brands — Power Team, Bolting Systems, Stone, Hytec Workholding, Posi Lock, and Rail Systems — are synonymous with safety, quality, reliability, and innovation.

Headquartered in Rockford, Illinois, Hydraulic Technologies stands as a premier designer, engineer, and manufacturer of high-pressure hydraulic tools and equipment. With over 90 years of expertise, Hydraulic Technologies serves critical industries such as infrastructure, manufacturing, and rail, delivering essential solutions for various industrial markets

GENERAL SUMMARY 

The purpose of this role is to achieve sustained sales growth, profitability, and improve customer satisfaction for the defined Hydraulic Technologies product offering.  The role is expected to achieve these targets through strategic planning, value proposition definition, forecasting, and marketing direction across all stages of the product lifecycle.  This involves working at both a strategic and tactical level across all relevant markets and regions.

The incumbent will work across global cross functional teams; new product development (NPD) engineering, regional sales, global manufacturing operations (GMO), and design centers to develop new products, find new applications for existing technology, and manage the lifecycle of the product portfolio.

Success in this role requires the ability to efficiently and effectively drive results through influence and cooperation across the global organization.  A comprehensive knowledge of market conditions and customer needs, combined with an understanding of the features, functions, and benefits of our product offering is a core element in this role.   The incumbent will engage in and demonstrate a culture of strong leadership, innovation, continuous improvement, talent development, and bias toward action which delivers results. 

 

PRINCIPLE DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

 

Product Strategy & Planning

• Gather and analyze market, customer, and competitor intelligence to identify and quantify opportunities for growth and margin expansion in existing, new, and emerging markets
• Align product strategies and offering to 80/20 principles: Grow Quad 1, Eliminate Quad 4
• Gather voice of customer (VOC) insights from key stakeholders
• Define value proposition and product differentiation to provide Hydraulic Technologies with a competitive advantage
• Develop, maintain, and secure approval for product line strategies and plans
• Develop business cases and determine feasibility to achieve revenue growth and profitability targets
• Drive technology and product roadmap initiatives in conjunction with teams to achieve growth plans
• Identify new markets and quantify opportunities
• Through on-going customer and marketplace interaction, define and document customer requirements for new products, as well as desired changes/enhancements/cost reductions for existing products
• Collaborate internally and externally to document new product specification/requirements
• Develop and/or drive pricing strategies and advise on large quote opportunities
• Communicate clearly and consistently to internal stakeholders on all updates to strategy or direction

 

New Product Development

• Develop and oversee plans for new product launches using appropriate tools and templates
• Manage product launches through defined development stage gates
• Lead project teams in post-launch after action reviews, capture relevant learning, share across the team

 

Product Lifecycle Management

• Develop product lifecycle management roadmaps for products already in the market
• Drive value engineering projects, product extensions and next generation product initiatives 
• Embrace 80/20 analysis principles and look for opportunities to apply to existing product offering and customers
• Rationalize products as needed; manage transitions with clear written and verbal communication
• Ensure products meet customer defined specifications & industry certifications
• Drive both technical and commercial innovation
• Collaborate with research and development (R&D), sales, engineering, marketing, manufacturing, and operations to develop product definitions responsive to customer needs and marketing opportunities

 

Product & Market Training and Promotion             

• Define and maintain a product training plan
• Assist with development of promotional strategies based on marketing research and competitive analysis
• Coordinate with Marketing Communications to facilitate market collateral strategies
• Support promotion of the product externally with customers, partners, & media as needed
• Deliver product training (internal & external)
• To place emphasis on health and safety issues in line with statutory requirements at all times
• Develop initial bid pricing strategy based on analytic view of market conditions and current contract exposure
• Lead communication to senior leadership (meetings, presentations) regarding margin performance and potential actions, while supporting senior leadership in creating margin messages for the field.

The above listed responsibilities are intended to describe the general nature and level of work being performed.  They are not intended to be an exhaustive list of all responsibilities or duties required.  Employee will be expected to perform other duties as assigned.

 

What do you need?

EDUCATION AND EXPERIENCE

• 5+ years successful experience of leading product lines at business to business (B2B) or industrial company
• comprehensive, high profile projects in areas of engineering, sales, marketing, or finance, within complex and/or matrix organizations
• Demonstrated experience as product line champion; ability to speak to product strategies and go-to-market strategies. History of product line ownership
• Demonstrated ability to work independently and to build collaborative working relationships with senior members of all cross functional business teams
• Strong interpersonal skills and excellent written and verbal communication skills. In particular, the ability to translate analytical approaches into how they apply to the business and operations
• Proven professional business acumen and relationship building skills including intercultural competencies and mastery of diplomatic behaviours
• Demonstrated experience and success with developing and implementing global product initiatives
• Experience delivering sustained results in a profit & loss environment
• The individual must be able to synthesize marketing and pricing information to draw insights and actionable recommendations (e.g., structure the problem, collect data, identify issues, and present results)

 

METRICS

• Product line order intake compared to annual operating plan
• Product line profitability (gross margin) compared to annual operating plan
• Price realization
• New product vitality index (sales of products launched within last 5 years)
• Customer satisfaction: net promoter score (NPS)
• Execution of defined initiatives product training, promotion activities, etc.

 

Skills:

• Creative problem solving and strong analytical skills demonstrating ability to identify root causes of problems; generate and evaluate creative alternative solutions; implement problem resolutions quickly and effectively with fact-based decisions
• Demonstrated ability to influence others, especially those in other roles and departments
• Exceptional leadership skills with ability to mentor, teach, and guide direct reports (as needed)
• Robust interpersonal skills, with evidence of consistent teamwork and collaboration behaviors
• Conceptual thinking skills to recognize and capitalize on both pricing and terms & conditions (T&Cs) as well as negotiation patterns based on repeated deals against competitors
• Willingness to challenge status quo and promote change with influencing skills necessary to build field/senior management consensus around bid activities and strategic direction
• Strong communication skills to develop and deliver compelling rationale and motivate sales and Growth Team
• Demonstrated effort to learn and gain a deep understanding of Hydraulic Technologies markets and product offering
• Self-starter, ability to work without regular management direction
• Ability to actively listen to and manage stakeholders across the business and influence across multi-functional teams & global regions

 

About the Benefits:

• Competitive Pay and Bonus Structures.
• Medical, Dental, Vision Plans.
• Life Insurance.
• Retirement Savings Plans with Company Contributions.
• Competitive Vacation and Floating Holiday Days Off.
• Full-Time Opportunities with Benefits.
• Professional Development Programs.
• Tuition Reimbursement Program.
• Parental Leave and Adoption Support.

DISCLAIMER

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification.  They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.

Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.

 

Next steps?

Does it sound like your next job? Be our solution in the making and apply now!If you have any questions, please feel free to contact our Recruitment Team. 

Contact person details:

weronika.kowalczyk@hytec.com

 

QUALITY

Quality encompasses all aspects of HT's business, and every employee shares the responsibility to prevent the occurrence of any nonconformity relating to product, process and the quality system.  All employees have an obligation to identify and record any such nonconformity, and through designed channels, initiate and recommend solutions.

 

HT USA is an equal opportunity employer and makes employment decisions without regard to race, color, religion, national origin, gender, age, disability, protected veteran status, or any other reason prohibited by law.