Product Manager

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Full Time Professional Minnesota, Bloomington, MN, US

Salary Range: $90,000.00 To $ Annually

This is Where Tradition Becomes Legend

Ritchie Engineering Co., Inc. is a family-owned company that has been innovating HVAC & Refrigeration tools and test equipment for more than 75 years. From idea conception through development, production, and shipment; every team member plays a crucial role ensuring the quality, reliability, and efficiency of these American-made products.

What We Offer:

Join our team and enjoy a comprehensive benefits package designed to support you and your loved ones:

• 401(k) Retirement Plan: 100% company match with no vesting schedule on up to 4% of your contributions
• Health Insurance
  :
  Two Medical Plans, Dental, Vision and Flexible Spending Account options to suit your needs
• Company Paid Insurance
  :
  Short-term disability, long-term disability, accidental death and dismemberment, and life insurance at no additional cost
• Paid Time Off (PTO):We value work life balance and offer a generous PTO plan for exempt employees. You will start with 52 hours during the first 6 months, with the accrual increasing to 160 hours annually after 6 months. The accrual rate will continue to increase with tenure up to 202 hours annually after 20 years of service.
• Holiday Pay: In addition to PTO, all employees receive up to 80 hours of paid holidays annually
• Telemedicine:24/7 access to healthcare professionals for you and your family
• Referral program:Earn rewards for helping the team grow

Compensation

• As you evaluate your career options, we recognize that salary is a key consideration. For this role, the pay range is $90,, with individual compensation determined by your unique skills, experience level, and other relevant factors

Schedule:

• Enjoy a 4-day work week, 10-hours a day (Monday-Thursday Between 6:00am and 6:00pm).
  • During travel and trade show weeks schedule may be modified to accommodate Friday or weekend demands
  • Additional hours may be required during busier times

What You Will be Doing:

Identifies and analyzes opportunities for new products or changes to existing products based on market needs, competition, and product performance. Prioritizes these opportunities and creates product design specifications for engineering projects. Helps train both internal and external stakeholders on products

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Research to identify market opportunities for new products
• Lead user focus groups and collect user feedback on new and existing products
• Acts as the point person for receiving new product ideas from employees, end users, sales, and outside inventors
• Work with potential new vendors who have new product offerings
• Establish target specifications for new products
• Create and manage Business Cases for new products
• Collaborate with leadership to develop and maintain product roadmap
• Evaluate competitive product offering and identify where we fall short or prevail and advise where we should go
• Be aware of market/ industry innovations, new refrigerants, changes to regulation, etc.
• Manage product life cycles; evaluate existing products for profitability, market share, and trends
• For new products, evaluate whether to organically develop or utilize other options (purchase from another manufacturer)
• Help with new product roll-out, including training of…