Product Manager

Basic Information on the role

Role Title/ Designation

Product Manager/

Deputy Manager

Supervisor Designation

Asst. General Manager, G-PMO

(Oil Lubricated Products)

Function

Global Product Management Organization (G-PMO)

Function’s Objective

Enable sales profitably by improving product value to customers and creating new customer segments

Purpose of the Job

Brief role description

§       Create a global product roadmap for oil-lubricated air compressors, taking into consideration the end customer and distributor needs, industry trends, and competition insights.

§        Initiate and drive product development based on product strategy and new opportunities identified.

§        Provide support to the sales team by launching new products and improving existing products with Compelling Value Propositions (C-VAP) for the end customers to successfully position ELGi’s products in the market.

§         Be the global expert for products that are assigned to manage

Operating Network

Key External

-   Customers

-   Distributors

-   Consultants

-   OEMs

Key Internal

-   Regional product managers across the globe

-   Sales/Service

-   Global aftermarket

-   Engineering, R&D Team

-   Marketing Communication

-   Finance

-   Planning and Operations

Dimensions

No. of direct reports

0

Responsibility Area

Time Spent (Indicative)

Key Responsibilities

Metrics

Opportunity Management

15%

-   Perform market study, application study, and competition benchmarking; utilize all available sources such as competition information, industry trends, and input from sales teams to identify new opportunities.

-   Analyze business potential towards revenue targets, technical feasibility, and statutory requirements to determine the value and feasibility of the opportunity and present the business case to the leadership team

-   Number of and revenue potential from new opportunities identified

Product Initiation & Development

30%

-   Develop a product roadmap to initiate new products and improve existing products to get ahead of the competition, address product range gaps (if any), and ensure sustained competitiveness of the product portfolio.

-   Capture Voice of Customer (VoC), competition benchmarking and work with relevant stakeholders to develop effective product specifications.

-   Determine target product positioning and pricing.

-   Prioritize products based on business objectives.

-   Develop business case with business potential, RoI, value proposition, and business revenue targets to obtain approval for product development

-   Number of new products initiated towards achieving new product revenue and margin goals.

-   Completion of roadmap

Product Launch

25%

-   Facilitate availability of technical documents, product specifications, GA & Electrical Drawings, and O&M manual for the new product launches

-   Prepare sales documents; catalogs, product flyers, pitch documents (ELGi vs Competition), and online sales tools to enable sales teams to win business.

-   Support the product training team and prepare training content and collateral for newly developed products.

-   Support the marketing communications team with product value proposition and ensure it is effectively communicated and delivered to customers.

-   Work with internal stakeholders to support proper launch on time for a new product

-   On-time delivery of new products

Product Support

10%

-   Support non-standard sales inquiries to provide engineering solutions to regional product managers/sales

-   On-time support for NSD product inquiries

Business Monitoring

20%

-   Monitor sales trends of new products launched and conduct a comparative study with business projected during the product initiation phase to understand the gaps (if any)

-   Understand orders lost to competition on relevant products and analyze reasons to provide suitable solutions.

-   Product lifecycle management

-   Support in continuous improvement of product management systems and processes

-   Actual quantity/revenue vs. potential estimated during the product initiation phase.

-   % of products meeting targeted margins

Education Qualifications

·    Graduate/Postgraduate in Electrical/Electronics/ Mechanical Engineering. MBA in marketing/sales preferred.

Core experience/skills

·    Mid-level; 5-7 years of experience in product management, sales, or engineering of industrial products or experience in product development with exposure to sales and marketing.

·    Strong market and business acumen

·    Market and application research

·    Ability to analyze and provide data-driven decisions.

·    Strategic thinking

·    Strong people skills

Experience

·    Working knowledge of compressors or any industrial machinery and their applications

·    Experience in managing product lifecycle.

·    Experience in engineering, business development and sales/data analysis on market or competition

Travel

25-50%

Work environment

Work with local and global stakeholders; Work with a diverse team of professionals; Collaborate with stakeholders from various functions across organization;