Product Manager

Job Title: Product Manager

FLSA Status: Exempt

Department: Product Leadership

Reports to: Director, Products

Flex Work Eligible! This position qualifies for the Flexible Work Policy. Employees receive 75 workdays annually to work remote! The initial amount of days is prorated for the first year based on start date.

GENERAL DESCRIPTION / PURPOSE:

The Product Manager is responsible for the near-term and long-term performance, cost-effectiveness, and competitiveness of their assigned product portfolio from design through decommissioning. The role will identify and drive priority projects through the product development process with consideration for both manufacturing and operating needs. The role will develop products by identifying potential new products or product improvements, conducting market and financial research, generating product requirements and determining specifications.

ESSENTIAL JOB FUNCTIONS:

Product Development

• Creates a product / solutions strategy for all assigned products lines based on market and competitive forces that generates acceptable global revenues and margins. Updates strategy to reflect environmental changes as required.
• Recommends the nature and scope of changes to present and future product lines by reviewing product specifications and requirements; appraising new product ideas and/or product or packaging changes; determining and measuring project and product ROIs.
• Works in conjunction with Engineering and Marketing to manage all assigned product development initiatives by creating the functional specifications for new products or features. Brings products to market by analyzing proposed product requirements and product development programs; establishing time schedules with engineering and manufacturing; and acting as the Voice of the Customer in project and CFT meetings to ensure attainment of desired outcomes.
• Assesses and manages customer technical specifications for sold equipment in external tenders or negotiations. Supports the Aftermarket group's activities related to spare part and tools selection for equipment deliveries.
• Provides business case justification for all product development initiatives within the assigned portfolio.
• Makes final judgement and signs off on ECRs and project changes orders for assigned portfolio. Monitors impact on cost-competitiveness of assigned Loram products.

Market Analysis

• Assesses market competition by comparing the company's product to competitors' products. Works with engineering and manufacturing to control cost and machine configuration options.
• Scans outside industries for technology that could be utilized within the railroad industry.
• Works with Sales and Marketing team to understand customer buying behaviors, sovereign trade requirements or limitations and value drivers in all of Loram's selected markets globally.

Marketing and Technical Support

• Support the Sales and Marketing teams through the sales cycle and tendering process with product differentiation data and features / benefits of specific equipment capabilities.
• Participates in cross-functional teams with Engineering, Marketing, and Operations to ensure products meet strict client specifications.
• Support Aftermarket and warranty activities to include overhaul and upgrade opportunities.

REQUIRED QUALIFICATIONS:

Education: Bachelor's degree; MBA or advanced technical equivalent preferred

Experience: 8-10 years Marketing or Product Development experience; 5+ Years Rail/heavy industry, international, or related experience

Knowledge, Skills and Abilities:

WORKING CONDITIONS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Requires excellent communications skills within any social context
• Ability to apply high levels of cognitive, analytical, retention and reasoning skills.
• Up to 50% or more travel including international
• Can stand, sit, walk, reach, balance, stoop, kneel, hear, taste, and smell. Can see up close, distances, colors, and has use of peripheral vision and depth perception.
• Can tolerate variable and sometimes challenging conditions during visits or inspections of company equipment in a railroad environment.

Benefits for this role include a comprehensive package with company-sponsored medical, dental, and vision insurance; Health Savings Account (HSA) and Flexible Spending Account (FSA) options; wellness programs; basic life and AD&D insurance; voluntary life insurance; company paid short-term and long-term disability coverage; 401(k) retirement plan including an employer match of 150% up to the first 6% you contribute to the Plan; Employee Assistance Program (EAP); behavioral health support; and leaves of absence. Additional benefits include tuition reimbursement, payroll charity contributions, adoption assistance and optional plans such as legal, critical illness, and hospitalization.

Loram determines compensation based on factors such as skills, competencies, education, and/or experience. Certain positions may be eligible for an annual bonus and paid time off in addition to base compensation.

Starting pay for the position is between $125,850.00 and $157,350.00

Loram is an Equal Opportunity Employer and will make all employment-related decisions without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, marital status, familial status, status with regard to public assistance, membership or activity in a local commission, protected veteran status, or any other status protected by applicable law.

Revised March 2025

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