Category Manager

1 month ago

Flushing, United States Travers Tool Co. Inc. Full time
Job DescriptionJob DescriptionThe Category Manager is responsible for managing product life cycle within the context of sales/margin plans and business strategy by driving the supplier selection, relationship, and accountability for a limited number of Product Categories. Conduct market research and continuous competitive analysis to ensure costs and sell prices are within line. Will be responsible for identification, presentation for selection, planning, development, and omni-channel marketing of assigned product categories. The Category Manager will test, price, and promote the products in the various marketing media and channels (digital and print) to satisfy the expectations of customers and meet profitability standards of the company.

As a Category Manager with Travers, you will be responsible for:

  • Under the direction from PCM leader, drive product development activities including new product/brand development, product/brand rationalization, pricing, packaging, and line maintenance to optimize category profit and growth.
  • Develop and drive cost savings opportunities including but not limited to product purchase costs, rebates, payment terms, lead time, purchase minimums, and shipping terms.
  • Working with the Purchasing team ensuring inventory levels are in line with business strategy to maximize return of investment and limit overstocked and obsolete items.
  • Develop and maintain a detailed understanding of the competitive landscape both domestically and globally, including competitive pricing, features, specifications, and trends.
  • Prepare and present business cases rationalizing investment in new product and program opportunities, conducting the appropriate financial calculations.
  • Under direction from PCS leader, drive the US and Global sourcing strategy and activities for private branded products. This includes existing products, new products, and the choosing of new factories to expand our product capabilities and offerings.
  • Under guidance from PCM leader, drive supplier relationships within assigned categories. This includes but not limited to contract negotiations, pricing discrepancies, service level agreements, product quality and consistency.
  • Ensure product data is accurate and up to date for all assigned product categories.
  • Research market conditions and conduct feasibility studies to assess market demand for new products.
  • Assists in the development of product information for all customer facing material for digital and print media. This includes but is not limited to the development of support materials for existing product and product launches, product specifications, packaging, promotional material, and merchandising collateral.

Nataliya’s suggestion:

Product Development Activities: Under the direction of the PCM leader, oversee:

  • New product/brand development
  • Product/brand rationalization
  • Pricing and procurement strategies
  • Private Label brand development and maintenance
  • Line maintenance for category profit optimization and growth.

Cost Savings Opportunities: Develop and implement strategies for cost savings, focusing on:

  • Negotiate product purchase costs
  • Develop and maintain rebate and CO-OP programs
  • Obtaining favorable payment and delivery terms
  • Negotiating acceptable purchase minimums
  • Inventory Management: Collaborate with the Purchasing team to:
  • Develop a stocking strategy for products across all warehouses
  • Align inventory levels with business and marketing strategy, minimizing lead time to customer
  • Maximize turns and ROI on existing inventory
  • Minimize overstock and obsolescence.

Competitive Landscape Analysis: Maintain a comprehensive understanding of the competitive landscape:

  • Gap analysis
  • Domestic and global market analysis
  • Competitive pricing assessment
  • Features and specifications comparison

Business Case Development: Prepare and present business cases for:

  • Investment in new product and program opportunities
  • Financial calculations for decision-making.
  • Supplier Relationship Management: Work on enhancing supplier relationships within assigned categories by:
  • Negotiating contracts
  • Addressing pricing discrepancies
  • Establishing service level agreements
  • Ensuring product quality and consistency.

Product Data Management: Maintain accurate and up-to-date product data for all assigned categories.

Market Research and Feasibility Studies: Research market conditions and conduct feasibility studies to evaluate market demand for new products.

Customer-Facing Material Development: Assist in creating product information for digital and print media by:

  • Developing support materials for existing and new products
  • Crafting product specifications
  • Designing packaging and promotional material
  • Creating merchandising collateral.

QUALIFICATIONS:

  • Bachelor’s degree (B.A./B.S.) in related field or equivalent
  • 1-3 years related experience or equivalent
  • Knowledge of distribution practices
  • Strong negotiation skills

  • Demonstrated ability to effectively manage multiple tasks and projects simultaneously

  • Prior experience collaborating with vendors and suppliers.

  • Commitment to excellence and high standards
  • Excellent written and oral communication skills
  • Strong organizational, problem-solving, and analytical skills
  • Ability to manage priorities and workflow
  • Versatility, flexibility, and a willingness to work within constantly changing priorities
  • Ability to work independently and as a member of various teams
  • Proficient on Microsoft office, knowledgeable with PIM systems
  • Proven ability to handle multiple projects and meet deadlines
  • Strong interpersonal skills
  • Ability to deal effectively with a diversity of individuals at all organizational levels
  • Impeccable judgement with the ability to make timely and sound decisions
  • Willing to travel up to 20%

METRICS:

  • Drive cost savings initiatives to increase overall margin $’s and % for assigned categories – 25%
  • Identify/develop products and services that represent high profit and revenue to increase overall profit contribution – 20%
  • Private brand sales growth by XX – 20%
  • Achieve overall sales growth goal for assigned categories – 15%
  • Reduce surplus $’s to XX – 10%
  • Improve supplier on time delivery to XX – 10%

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