Director Product Management

LANNETT CO INC   •  

Philadelphia, PA

Industry: Pharmaceuticals & Biotech

  •  

11 - 15 years

Posted 102 days ago

Description

Proactive product management to drive revenue and profit growth for the inline and new product portfolio, while anticipating new market / competitive dynamics.

This individual will manage Product Managers, and will collaborate with Senior Management, Supply Chain, Legal, Regulatory, and Sales on product strategy, including pricing strategy, and product demand.

The Director of Product Management must understand customer and market dynamics to address customers’ needs while proactively supporting current and future commercial activities by analyzing market trends and improving processes.

Responsible for a product portfolio of 100+ product families with annual revenue of approximately $700M which will continue to grow through introductions of new products into the market. 

Responsibilities:

  • Responsible for New Product Launch (NPL) process activities including creating templates, completing product reviews, customer strategies and launch plans.
  • Determine the profitability of new products or product enhancements, providing feedback to Portfolio team to support justifications for “Go/No Go” product decisions. Prepare all revenue forecasts for near-term and in progress launches for annual budget and Monthly Latest Best Estimate (LBE) process
  • Lead discussions with internal teams such as Portfolio, Regulatory, Legal, Sales, Customer Service, Supply Chain to develop launch communications, marketing programs, and sales initiatives to support overall strategy
  • Manage the review, validation and updating of new product forecasting models
  • Review supply and settlement agreements to help develop commercial strategy and forecasting decisions
  • Develop and maintains internal compliance tracking tools at the product / customer level to maximize impact of product launches
  • Oversee the daily activities of the Product Launch Manager as it relates to the coordination and communication of launch activities.
  • Provide leadership by setting the vision for in-line product management, energizing the team and aligning cross functionally to accomplish the departmental goals.
  • Coordinate and align with stakeholders, including Finance, Supply Chain, and the production sites on annual budget exercise, latest best estimates (LBE), forecasts, accruals, customer demand, etc. to maximize generic penetration and profitability.
  • Develop strategies to address product performance issues by collaborating with Sales and other internal stakeholders.
  • Lead the Demand Planning process to develop monthly demand forecasts based on analysis of external environment, market trends, customer behavior and recent business activity to ensure accurate production forecasts to minimize Failure to Supply (FTS) penalties, Backorders, and potential Short-Date / Obsolesce.
  • Lead the Sales Forecasting process taking the Demand Plan and the Product ASPs as provided by Finance, incorporating risk adjustments/assumptions to forecast potential price erosion, market share loss, volume growth etc. to create a Sales Forecast to be included in the Annual Budget, Long Range Plans and Latest Business Estimates.
  • Collaborate closely with Supply Chain and Operations to ensure utilization and maximization of capacity.
  • Lead the Lifecycle Management Process (LCM) coordinating with Finance, Supply Planning, Procurement and Operations team to maximize the value of our product portfolio while balancing market share and profitability.
  • Escalate and manage COGs and Gross to Net accrual issues with the Pricing, Finance and Operations teams where necessary
  • Provide direction to Product Managers to collaborate with Demand Planner to evaluate the demand forecasts with the goal towards improving forecast accuracy
  • Present guidelines to evaluate new business opportunities by monitoring inventory levels, lead times, production schedules, and overall market conditions to minimize supply interruptions and maximize sales
  • Responsible for competitive intelligence monitoring while developing strategies to timely respond to market changes that may present a threat or an opportunity to the products or that can influence demand-supply balance
  • Mentor direct reports by providing direction and guidance regarding strategic decision making and forecast variables while motivating towards innovation and creativity in problem solving.
  • Management of the overall NPL process from portfolio handoff to transition to in-line product management.
  • Key responsibility will be the strategic development and maintenance of the commercial revenue and unit production forecasts for new products
  • Provide key management and direction to the Product Managers regarding the daily maintenance and strategy for in-line products. They will be responsible for the development of department operating guidelines, marketing plans, and the demand forecast for existing products, insuring alignment to divisional strategic initiatives.
  • Act as primary negotiator amongst the cross functional team (SCM, Finance, Commercial, RA) to resolve issues and improve processes.
  • Consistently monitor and improve commercial workflow to ensure best in industry practices are used.
  • Oversee the daily activities of the Product Launch Manager as it relates to the coordination and communication of launch activities.

Requirements:

  • Bachelor’s degreerequired, Master’s preferred
  • 10+ years progressive experience in the generic pharmaceutical industry
  • SAP
  • IMS/IQVIA Expertise
  • Advanced Excel
  • Microsoft Office – Outlook, Word, Power Point
  • Ability to synthesize large sets of data to make complex decisions
  • Entrepreneurial-minded