Product Strategy Manager

1 month ago

Toronto, Canada UFA Full time

POSITION SUMMARY:
Reporting to the Sr. Manager, Product Strategy & Merchandising , the Product Strategy Manager of Livestock Supplies is responsible for the management of the assigned category of products including profitability, sales, advertising, category planning, vendor negotiations, and product selection; for developing and managing their portfolio’s overall product category strategy and direction for the UFA Agribusiness division. The Product Strategy Manager will develop & implement their UFA product assortments, pricing strategies and promotional plans, as well as the merchandising direction to meet member-customer needs and deliver their portfolio’s goals and financial objectives for the organization. The Product Strategy Manager will apply best practices in category management to achieve the sales, margin & gross margin % budgets by developing key strategic vendor relationships, pricing strategies, product and inventory, promotion campaigns, and assortment plans.

KEY ACCOUNTABILITIES:
Develop strategies for Product assortments, Pricing, Promotions and Merchandising Direction for specific categories and product segments to drive revenue & margin growth, deliver on UFA’s business objectives and financial budgets.
Collaborate with internal partners and stakeholders to ensure category strategies and product plans are rolled-out to the business in an effective and efficient manner.
Create targeted promotional strategies and tactics for portfolio development, leveraging customer segmentation and category management principles to meet business and financial goals.
Develop the product category assortment strategy for each program and manage the portfolio’s overall inventory productivity; through the product life cycle stages, aged-inventory levels and implement required actions as needed.
Develop, lead, and communicate the pricing strategies for each product category in the portfolio that will achieve expected business and financial objectives.
Lead, plan and communicate the implementation of major category business plans and initiatives
Communicate product category strategies to vendors and supply chain partners to ensure appropriate forecasts are in place that will support business plans and improve UFA’s financial productivity.
Work closely with cross-functional teams to communicate product segment and merchandising strategic direction to UFA’s operational leaders.
Research marketplace trends involving product, customers, suppliers and competitors to identify new products, sourcing and business ideas to ensure our product category assortments and customer experience are best in class. Gather market intelligence through formal and informal means to aid in the development of the overall business strategies and product portfolio performance.
Manage and optimize vendor relationships with respect to their product categories and assortments. Partner with vendors regularly to focus on: business growth, strengthen partnerships, improve cost of goods / payment terms / rebates / marketing co-op, and drive synergies across the business with a global approach.
Provide fact-based recommendations to the business stakeholders and senior management. Influence future purchases and/or risks for assortment strategies.
Initiate write and present strong business cases to support product and/or category opportunities or mitigate situational risks.
Participate in cross-functional corporate projects and initiatives as required.

REQUIRED QUALIFICATIONS:
Degree in Business, Economics, Agriculture or related field and /or equivalent work experience
More than 10 years relevant experience with minimum 7 years’ experience in retail category /product management
Experience in conducting market research, competitive analysis, and financial modeling to inform product decision-making.
Proven track record of successfully developing and executing product strategies that drive revenue growth and market expansion.
Familiarity with quality assurance processes and product compliance standards related to product categories.
Strong understanding of markets, trends, and member/customer needs, with the ability to translate market insights into actionable product plans
Proven track record to build strong relationships and work with cross-functional teams
Excellent communication and presentation skills, with the ability to collaborate effectively across cross-functional teams
Provide accurate and timely reporting to the business stakeholders to facilitate business opportunity discussions and strategy development.
Demonstrated ability to manage multiple projects simultaneously and prioritize tasks in a fast-paced, dynamic environment.
Proficiency in Microsoft Office Applications
Microsoft Dynamics experience an asset

We thank all candidates for their interest, however only qualified candidates will be contacted for an interview.

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