Product Manager

Company Description

ITW (Illinois Tool Works Inc.) is a Fortune 200 company and is one of the world’s leading diversified manufacturers of specialized industrial equipment, automotive components, consumables, and related service businesses. ITW businesses serve local customers and markets around the globe, with operations in 55 countries and an employee base of more than 48,000 women and men who adhere to the highest ethical standards. These talented individuals, many of whom have specialized engineering or scientific expertise, contribute to our global leadership in innovation. We are proud of our broad portfolio of more than 17,000 granted and pending patents.

Our team members are essential in developing innovative methods of continuous improvement, exceptional customer service, and a safe work environment. We believe having a diverse and inclusive team enables us to better serve our customers and contributes to the continued overall success of our organization.

This position is within ITW’s Zip-Pak division. Zip-Pak is the global leader in resealable solutions for the flexible packaging industry. Our expertise in zipper, application technology, and packaging systems makes Zip-Pak the primary choice of brand owners, OEM’s, and converters for innovative resealable solutions. Zip-Pak’s lean, modern, and continuous manufacturing environments produce zippers using high-volume plastic extrusion. Manufacturing sites are in the United States, Europe, and South America.

Job Description

As part of ITW Zip-Pak’s growth strategy and in alignment with ITW’s Enterprise Strategy Next Phase: Organic Growth through Innovation, we are hiring for a Product Manager role that will be reporting to the Global Innovation Manager. The Product Manager will help profitably grow key products and defend key customers by developing, implementing, and driving marketing/product strategies and tactical action plans. This individual will act as the voice of customer using end-user market research insights, macro market trends, especially those related to sustainability and competitive intelligence, to effectively manage the product portfolio and drive strategic new product development for Zip-Pak’s existing product portfolio and innovation areas. In their projects, initiatives and daily tasks, the Product Specialist will have regular interaction and collaboration with cross-functional team members from Engineering, Marketing, Sales and Operations.

The salary range for this position is $84,480 to $95,000 annually.  The pay rate for a successful candidate will depend on the geographic location, this salary range is for a successful candidate in the Chicago, Illinois Metro area.  The specific hiring rate within the posted range will depend on the candidate's qualifications and prior experience.

Primary Responsibilities:

· New Product Innovation – Support the development of the division’s product roadmap and growth strategy to capitalize on key market opportunities by driving the Customer Back Innovation (CBI) process through the cross-functional team. This includes, but is not limited to:

o Discovering market pain points by gathering voice of customers through primary and secondary market research, leveraging the information into developing serial innovation solutions and product specifications.

o Creating business cases for new product innovation and serial enhancements, driving above market product differentiation.

o Developing new product go-to-market strategies including forecasting volumes, designing market tests, planning internal training, and communication plans.

o Support the deployment of Innovation projects commercially and operationally.

· Product Portfolio Management – Support Product Portfolio strategy including management of existing product mix and providing product recommendations. Identify and participate in simplification and

margin improvement efforts, working with operations and engineering. Hold responsibility for product line maintenance and product lifecycle monitoring, including SKU rationalization (PLS), pricing and promotion strategies, and segment analysis to optimize the product mix and financials.

· Product Value Proposition and Commercial Support - Define product value proposition throughout the organization and clearly articulate the value proposition of our products to support sales/commercial initiatives. Become a portfolio expert and strategically deploy both new and existing solutions to best position Zip Pak competitively for pipeline opportunities and support growth initiatives.

· Market Landscape and Competitive Intelligence – Develop a full understanding of the market dynamics including regulatory, customer, competitive, and end-user trends. Navigate sustainability-related initiatives and identify and support areas for Zip Pak to engage in strategic partnerships, inc