This is a highly collaborative role, and requires ability to develop new products, line extensions and product reformulations of Dietary Supplements, Sports Nutrition and Cosmetics that support the Vitamin World brand strategy and increase VW and Precision Engineered sales and profit in US and Asian Markets. The Product Development Manager will support the VP of Merchandising in identifying a strategic vision of product innovation and developing marketing plans in addition to creating Structure Function Claims for products based on available studies for dietary ingredients.
The Product Development Manager will work on site in Vitamin World's Beverly Hills, CA office. The expected annual salary range for this position is $100,000 - $110,000, based on experience and other related considerations.
Primary Responsibilities:
- Review current product line to streamline oversaturated product lines with no differentiation between skus and to determine which SKUs need to be reformulated to effectively compete in brick-and-mortar stores and the digital environment.
- Analyze current product mix to determine gaps to market in product line
- Research current market(s), trends, ingredient trends, innovation, competitors, competitive advantages and competitive introductions for domestic market and work with China-based partners to:
- Analyze: Create detailed competitive analyzes to illustrate VW's strengths and weaknesses compared to leading competitors and specify where and how VW can become more competitive.
- Innovate: Develop new formulas and product lines within Dietary Supplements, Sports Nutrition and Cosmetics that will bring VW into its next generation.
- Revitalize : Assort VW's product line with formulas that exceed leading competitors and offer unique selling points. Prioritize trending ingredients, products, and categories.
- Liaise with China-based partners team in identifying product trends and developing a curated assortment recommendation from the US product portfolio for China market.
- Use analyses to develop and execute detailed NPD timelines.
- Manage the new product development process from conception to implementation.
- Lead project management and innovation meetings.
- Maintain and manage new products and product reformulation documentations across all categories.
- Create product briefs to include in the New Products Master File.
- Log, and coordinate new product sample, tasting/sensory results from tasting panel and communicate results to vendors.
- Drive internal team and external vendors to launch new products/product reformulations on schedule.
- Manage a rolling 15-month pipeline.
- Create new products and reformulations that are on trend and science based.
- Gather and evaluate the robustness of scientific studies that support claims to be made on labels and advertising.
- Collaborate with QC on Manufacturing Specifications
- Communicate with QC, Strategic Sourcing, manufacturer, and suppliers to confirm label claim(s) for ingredient potencies to create formula and Finished Product Specifications.
- Collaborate with QC and Strategic Sourcing to manage flow of information.
- Liaise with copackers/vendors Regarding formulation, cost, specs, packaging, lead times, timeline, etc.
- Liaise with internal team (QC, Strategic Sourcing, Merchandising, Creative) regarding cost, forecast, regulatory approval, labels, production, timelines, etc.
- Work with QC and copackers/vendors to work through outstanding formulation/raw material issues.
- Ensure QC received information to approve final formula, create internal Finished Product Specifications, create labels.
- Clearly and concisely communicate Product Development initiatives with cross-functional partners and VW Leadership
The ideal candidate will have:
- Degree in Food Science, Nutrition, or a similar discipline preferred
- 5+ years of relevant experience in Dietary Supplement/Nutritional Supplement PD, planning and execution
- Ability to thrive in a fast-paced dynamic environment
- Work well independently and team oriented
- Strong organizational and analytical skills with a desire to succeed
- Analytical-driven problem solver; ability to see several alternative solutions to a problem at the same time
- Keen interest in VS, SN and H&B development.
- Exceptional follow through and execution capabilities; solid project coordinating abilities
- Excellent written and oral communications skills
- Financial acumen
- Thorough understanding of FDA, Vitamin Supplements and Sport Nutrition regulations.
- Thorough understanding of Vitamin Supplements, Sport Nutrition, Health and Beauty ingredient functionality and product formulations.
- Experience reviewing and evaluating scientific studies for strength of conclusions based on study methods to determine Claims for products.
- Working knowledge of packaging technology to evaluate adequacy of packaging.
- Working knowledge of VS, Sport Nutrition, Claims and labeling regulations.
- Excellent time management skills, sense of urgency and desire to complete all assignments on a timely basis.
- Ability to shift priorities.
- Expert Microsoft Excel skills and Working knowledge of Microsoft PBI, AX and AS400 a plus
- Mandarin language skill beneficial but not required
