You should speak to the other formulation chemists in the company, and try to learn from them. Find out what they do all day, and ask them what they need -- instruments, reagents, etc. You will, in time, build up a good understanding of the process.
I work for a small consumer goods company, and while the owners know much about chemistry, they don't absolutely everything. And they don't have to. They work with the staff chemists to understand enough to get their work done.