Product Manager, Portfolio Optimization

Job Description

Job Description

Who is Drive Medical...

Drive Medical has become a leading manufacturer of medical products with a strong and consistent track record of growth achieved both organically and through acquisitions. We are proud of our high-quality, diverse product portfolio, channel footprint and global operating scale. Our products are sold in the homecare, long-term care, retail, and e-commerce channels in more than 100 countries around the world.

“Leading the World with Innovative Healthcare Solutions that Enhance Lives”

Summary (Major Purpose of the Role):  

The Product Manager, Portfolio Optimization is accountable for maximizing the performance of the in-market products within the assigned sales channel. This role focuses on optimizing channel assortment, pricing, inventory health, and lifecycle management to drive revenue, margin, and operational efficiency. The PM will leverage data-driven insights to identify opportunities, address underperforming or declining items, execute portfolio actions, and continuously improve product performance and the customer experience. This role serves as the cross-functional lead to keep the portfolio competitive, streamlined, and financially strong.

Main Activities/Responsibilities:  

Portfolio Performance & Analytics

• Monitor sales, margin, and portfolio performance across categories, customers, and channels
• Analyze business trends to generate actionable insights and recommend clear action plans
• Lead monthly and quarterly business reviews, identifying risks and opportunities

Portfolio Lifecycle Management

• Manage the full in-market lifecycle including optimization, SKU rationalization, product transitions, and end-of-life planning
• Proactively identify mature or declining products that require a defined strategy to reinvigorate performance, optimize positioning, or prepare for discontinuation, partnering with PM New Products to evaluate and plan future replacement opportunities where needed.
• Maintain a healthy, streamlined assortment aligned to channel and customer needs
• Ensure clear transition plans for discontinued or replaced products

Portfolio Optimization & Pricing

• Refine assortment, line architecture, and positioning to reduce overlap and improve competitiveness
• Own pricing oversight and strategy, ensuring alignment with margin targets, competitive positioning, cost changes, and market dynamics
• Partner with sales on pricing execution and customer-level strategies

Margin Expansion

• Identify and execute cost-down and value engineering initiatives to improve profitability
• Partner with sourcing, engineering, and operations to reduce COGS without compromising quality or performance
• Track and deliver against margin targets

Product Support & Execution

• Support ongoing business needs for in-market products, including: 

• Website content updates and accuracy
• Product questions and sales support
• Quality issue resolution in partnership with QA/RA

• Ensure responsiveness and timely resolution of cross-functional issues
• Ensure product knowledge resources, FAQs, and support tools are updated so common questions can be answered through the appropriate self-service or frontline support channels before escalating to Product Management.

Cross-Functional Execution

• Lead execution of portfolio actions across teams, including: 

• Promotions, SPIFs, and demand-driving initiatives
• Engineering Change Requests (ECRs)
• Product updates and enhancements
• Customer price actions

• Align across sales, marketing, sourcing, operations, finance, regulatory, and quality to ensure clear ownership, timelines, decision points, and execution plans.
• Track progress, identify risks or blockers, escalate decisions when needed, and ensure portfolio actions are executed with urgency and cross-functional accountability.

Excess & Inventory Management

• Manage excess and slow-moving inventory in partnership with sales, operations, and finance
• Develop and execute disposition strategies to reduce exposure
• Improve inventory health through proactive coordination, partnering with Planning to support demand-driving activities, inventory runout plans, and product phase-out execution.

Continuous Improvement

• Leverage customer, sales, quality, and operational feedback to identify issues and prioritize actions for improvement
• Use data and performance trends to prioritize product, process, content, packaging, and support improvements that enhance the customer experience.
• Establish a continuous improvement mindset across the portfolio
• Proactively leverage AI-enabled tools, workflows, and process improvements to improve work quality, increase efficiency, reduce manual effort, and strengthen individual output.

Competencies:

• Strong analytical thinking and data-driven decision making
• Problem-solving mindset with ability to translate insights into action
• Excellent business and financial acumen, including margin management
• Portfolio and assortment judgment
• Execution discipline and accountability
• Customer-focused mindset
• Continuous improvement orientation
• Strong cross-functional collaboration and influence skills
• Advanced Excel and data analysis capabilities (pivot tables, lookups, large datasets)
• Product knowledge and ability to quickly ramp on category dynamics

Reporting Relationships and Supervision:

• Reports directly to the Sr Director, Product Management
• Works cross-functionally with Sales, Marketing, Operations, Finance, Sourcing, Quality, Engineering, Regulatory, and Customer Service teams
• No direct reports initially; potential future leadership responsibilities based on organizational growth

Education and Experience:

• 3-5 years of product management, category management, portfolio management, or business management experience
• Bachelor’s degree required in Business, Marketing, Engineering, Healthcare, or related field
• Medical device or healthcare industry experience preferred
• Experience managing in-market product portfolios preferred
• Strong experience with performance analytics, pricing strategy, and margin management
• Experience leading cross-functional initiatives and operational execution
• Advanced degree preferred

Why Apply to Drive Medical…

Competitive Benefits, Paid Time Off, Incentive Plan, 401(k) Savings Plan, 

Drive Medical is an Equal Opportunity Employer and provides equal employment opportunities to all employees and applicants for employment. Drive Medical strictly prohibits and does not tolerate discrimination against employees, applicants, or any other covered person because of race, color, religion, gender, sexual orientation, gender identity, pregnancy and/or parental status, national origin, age, disability status, protected veteran status, genetic information (including family medical history), or any other characteristic protected by federal, state, or local law. Drive Medical complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities.