VP of Strategic Procurement, Consumer Electronics (CE)

 

Newegg Inc.

 

Vice President of Strategic Procurement, Consumer Electronics (CE)

 

EXECUTIVE SUMMARY

 

Founded in 2001, Newegg Inc. (“Newegg” or the “Company”) is the premier e-commerce retailer of information technology products, peripherals and consumer electronics to the do-it-yourself and online gaming markets.  With its phenomenal growth rate (from $0 in 2001 to 2005 revenues of $1.3 billion) and consistent #1 rankings in customer service, it has a strong basis for that claim. The Company, which is privately held, has over 1,200 employees worldwide and more than 5 million registered customers. This is an extremely exciting period in the life of the Company, as it prepares for the next stage of growth by strengthening the executive leadership team.

 

Newegg is seeking a Vice President of Strategic Procurement, Consumer Electronics (CE), which will be the top position in the Product Management CE department. This person will be responsible for all aspects of consumer electronics strategic procurement and sourcing for a global e-commerce company. Candidates must have significant background in product sourcing and experience in developing and growing a consumer electronics product management organization.

 

ABOUT NEWEGG

 

Newegg is a pioneering e-commerce company that has created a powerful channel for manufacturers of computer hardware and software, consumer electronics and communications products to reach the do-it-yourselfers (“DIY”), hard core gamers, students, small to medium-sized businesses, IT professionals, resellers and consumers that desire a comprehensive digital lifestyle. At the www.newegg.com website, consumers can find the latest technology parts and products, along with valuable product information, pictures, how-to’s, customer product reviews and opportunities to interact with other members of the technology and game enthusiast community.

 

Newegg views every customer as a customer for life and instills this philosophy in our employees to assure the complete satisfaction of every shopper. We continually evolve to satisfy the insatiable appetites of computer and electronic lovers everywhere and work around the clock to update our site with the hottest products, useful new features and reliable content. From browsing our intuitive and information-rich website, to purchasing and delivery to your door: we utilize the latest e-commerce and Internet technologies to provide real-time order status information, tracking numbers, safe and secure SSL encrypted transactions and much more. With warehouse locations in California, Tennessee and New Jersey, Newegg will almost always get products to customers within 3 days of an order, and generally within 2. In fact, 98% of our orders ship the day they are placed.

 

Newegg loyalists are accustomed to first-class service and the best values on the web. That is because we are experts on delivering the freshest technologies available and are in tune to what's hot and what's not. Our reputation, experience and keen industry insight permit us to negotiate the lowest possible prices. We stock the most in-demand products and encourage patrons to recommend merchandise to supplement our vast selection. If customers have a suggestion, we listen carefully. Customer feedback shapes our business and allows us to better serve our audience, and this customer-centric approach has paid off with unparalleled customer satisfaction ratings and loyalty that is the envy in our industry.  We are admittedly not yet a household brand, but our corporate slogan was created based on the response of IT enthusiasts and loyalists, and savvy internet shoppers, to the top-notch internet shopping experience we provide.  Indeed, “Once you know, you Newegg.”

 

POSITION DESCRIPTION

 

The person filling this position will be a critical member of the senior executive management team, leading the procurement and vendor management of consumer electronics for the company. The position will be based at Newegg’s headquarters in the City of Industry, about 30 minutes from downtown Los Angeles, CA. The VP of Strategic Procurement (CE) will be tasked generally with:

 Keeping Newegg as the pre-eminent Internet retailer (e-marketer) for consumer electronics in North America. Newegg is presently the 16th largest ecommerce company.Sustaining aggressive growth and profitability through strong vendor relationships and negotiations, enhancing existing partnership and developing new strategic alliances.Overseeing the ongoing selection and development of key team members. Ensuring that the CE management team is motivated and has clear direction in order to achieve current and future business goals.

 

 

SPECIFIC RESPONSIBILITIES

 Define, launch, and position consumer electronic products; develop profitability and revenue targets, define market plans and key product messaging, develop packaging and pricing.Direct the development of new market opportunities, new products and identify current trends in the consumer electronics market.Manage the P&L of the business and respective product lines to targeted performance levels maintaining the highest profit margins possible while remaining competitive at all times and aggressively growing sales revenue.Work with senior management across the organization to develop periodic business plans that include marketing strategies, pricing, competitive analysis, financial economic models, value proposition, positioning, budget and revenue forecasts.Develop a comprehensive global sourcing strategy.Manage strategic vendor negotiations and relationships to develop a retail product assortment defined by trend right and cutting edge consumer electronics products.Develop product pricing models and ensure all product teams periodically review pricing of assigned product lines to ensure competitiveness.Continuously analyze inventory levels and recommend as well as implement methods to optimally manage product stock levels.Constantly evaluate products to be added, enhanced, refined, developed or eliminated. Align the business strategies that will deliver a compelling and sustainable competitive advantage and will enhance the Newegg brand and market share.Expand into new and groundbreaking products striving for leadership in technology, market share, and customer satisfaction through strong sourcing relationships, predominantly in Asia.

 

Candidate Profile:  The ideal candidate will come from a fast-paced, efficient organization with emphasis on the bottom-line and delivering results.  Candidates with experience in B2C companies with major distribution and overseas (particularly Greater China) operations would be highly desirable.

 

Experience:

 More than 10 years of relevant and progressive experience in a consumer electronics goods business through retail, brand or distribution industries.Experience with retail and/or distribution business and understanding of the operations of a fast-paced, high-volume, low margin business focused on quality customer service.Must have solid relationships with top-tier vendor community in order to deliver compelling and cutting edge product lines.Excellent interpersonal and influencing skills to help facilitate communication both within the company and with outside relationship partners.Strong leadership skills with experience building successful product management teams, either by recruiting to fill key functions or by training existing staff.Strong strategic vendor negotiation, day-to-day operational management and analytical skills.Successful experience implementing controls, policies and procedures with an eye toward cost containment.Able to drive change in a rapidly growing organization.Ability/willingness to be a working/hands-on executive who works hand-in-hand with his/her team to accomplish objectives.Possesses unquestionable integrity and has a high credibility factor internally and externally.B.S. degree in business or related area, MBA or other appropriate graduate degree preferred.Possesses self-confidence and strong team-player orientation.Mandarin Chinese language skills desirable, but not required.

 

Compensation:  Base pay commensurate with the position, and 10-50% performance-based bonus based on company, department and individual performance.  Fully-paid PPO health coverage for candidate and family, 401(k) with matching and paid time off.  Reasonable relocation allowance, if necessary.