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Head of Product Innovation

2 months ago

Salt Lake, Utah, United States Cannabiz Full time
Job Overview

Our client, a prominent entity in the nutritional supplements and sports industry, is in search of a Head of Product Innovation. This role will oversee the comprehensive negotiation processes throughout the Product Development lifecycle, which encompasses aspects such as manufacturing expenses, sourcing of raw materials, and product labeling. The individual will be tasked with identifying suitable vendors for the creation of new products, product lines, and brands.

Key Responsibilities:

  • Drive innovation in product development, ensuring the implementation of best practices for new, enhanced, and cost-effective formulations.
  • Exhibit exceptional negotiation capabilities.
  • Lead all facets of technical product formulation and process development from conception to market launch.
  • Manage team workloads, provide clear guidance, and assess and enhance performance.
  • Execute the formulation of effective products with a strategic vision, including desired benefits, cost of goods targets, formula validation, and sustainable sourcing.
  • Assess and negotiate costs of products and ingredients, while staying informed about emerging trends in the global market to manage potential supply challenges and price fluctuations.
  • Develop and maintain relationships with suppliers and contract manufacturers to ensure the successful commercialization of products that meet critical attributes and timelines.
  • Evaluate vendor competencies and competitive positioning to achieve strategic sourcing objectives.
  • Collaborate with strategic partners to discover novel ingredients, products, and formats across various categories, proposing innovative ideas.
  • Implement initiatives with suppliers and contract manufacturers to guarantee product quality and safety.
  • Identify risks and create opportunities for product enhancement to improve consumer experience while achieving cost savings.
  • Provide technical leadership during the scale-up and technical transfer processes for new and existing products, ensuring seamless commercialization with co-manufacturing partners.
  • Effectively troubleshoot and resolve complex formulation and technical challenges in collaboration with contract manufacturers.
  • Establish regular communication channels and follow-ups with all team members involved in projects.
  • Possess a solid understanding of domestic regulations (FDA 21 CFR, FTC, OTC) and other global regulations affecting product development.
  • Partner with marketing teams to develop and evaluate new products.
  • Ensure continuity in the supply chain by managing raw material substitutions and addressing quality issues or product disruptions.
  • Champion innovative strategies for the product development team to foster growth in key consumer need areas.
  • Oversee the approval process for product design and development submissions, ensuring all stakeholders are informed of the process.
  • Prepare product formula documentation for quotations and facilitate communication with co-manufacturers during the quotation and development phases.
  • Communicate objectives clearly and ensure workload distribution aligns with achieving those objectives.
  • Manage and supervise prototype evaluations for new product concepts.
  • Maintain organized documentation of all activities related to product development.
  • Stay updated on trends within the dietary supplement sector, competition, formulation technologies, and nutritional ingredient developments, providing valuable insights to the organization.
  • Foster a dynamic work environment that promotes high performance while ensuring operational efficiency.

Qualifications:

  • Over 10 years of direct management experience and over 10 years in consumer product management, with a strong emphasis on Product Development.
  • A Bachelor's Degree in Science, Pharmaceutical Science, or a related field is preferred, or a combination of education and relevant work experience.
  • Demonstrated negotiation skills.
  • Ability to work effectively in a cross-functional team environment.
  • Strong interpersonal and communication abilities.
  • Solutions-oriented mindset, comfortable navigating ambiguity.
  • Critical thinking skills to address potential business challenges.
  • Adaptability to a constantly changing environment.
  • Experience in coaching and developing team members.
  • Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and familiarity with Google Business Suite (Gmail, Drive, Docs, Sheets, Forms) is preferred.

Compensation: $170,000—$220,000

This opportunity offers a chance to significantly impact product innovation within a leading organization in the nutritional supplements sector.