What are the responsibilities and job description for the VP/Director of New Product Development and Innovation position at UFP Industries, Inc?
General Summary
The Vice President/Director (level based on experience) of New Product Development and Innovation is responsible for leading the company's innovation and new product development efforts. This role drives innovation to expand product offerings, increase sales, and enhance margins. The VP/Director provides strategic leadership, innovation best practices, support for existing new product development activities/teams, and new product launches in key markets/segments/business units.
Location: Grand Rapids, Detroit, St Louis, Atlanta, Charlotte. Other locations TBD.
Principal Duties and Responsibilities
New Product Development/Innovation:
- Formulate and implement strategies to identify opportunities for new product launches in key market segments.
- Work with field operations and regional leadership to ensure new product participation across the company's market segments.
- Coordinate sales forecasting, planning, and budgeting for new product initiatives.
- Analyze market trends and customer feedback to identify gaps and opportunities for innovative product solutions.
- Ensure innovation efforts align with company goals and deliver measurable business impact.
- Motivate and inspire teams to achieve growth and margin goals through innovative product offerings.
- Monitor product development activities to ensure compliance with company policies and industry regulations.
Leadership and Administration:
- Lead by example, fostering a culture of collaboration, creativity, and accountability.
- Represent UFP at global industry events, trade shows, and customer engagements.
- Prepare reports, present findings, and provide recommendations to executive leadership.
- Mentor and develop international and product development teams, ensuring long-term organizational success.
Knowledge and Skills Required
- Minimum Bachelor's degree in Business, Product Development, Innovation, Insights, Engineering, or related technical Science.
- At least 7 years of leadership experience in product development, innovation, insights, ventures, or relevant industry experience.
- Expertise in product innovation, sales forecasting, and market strategy.
- Proficiency in financial analysis, budgeting, and performance evaluation.
- Familiarity with UFP's organization, culture, and product lines is preferred.
- Proficiency in Microsoft Office (Excel, Word, Outlook) and other business software.
The Company is an Equal Opportunity Employer.
Universal Forest Products and its subsidiaries and affiliates are equal opportunity employers. All qualified candidates will receive consideration without regard to race, color, religion, sex or national origin.
