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Data Scientist III, Inventory

Brooklyn, NY (Rent the Runway HQ)

About Rent the Runway 

Rent the Runway (RTR)  is transforming the way we get dressed by pioneering the world’s first Closet in the Cloud. Founded in 2009, RTR has disrupted the $2.4 trillion fashion industry by inspiring women with a more joyful, sustainable and financially-savvy way to feel their best every day. As the ultimate destination for circular fashion, the brand now offers infinite points of access to its shared closet via a fully customizable subscription to fashion, one-time rental or ownership. RTR offers designer apparel and accessories from hundreds of brand partners and has built in-house proprietary technology and a one-of-a-kind reverse logistics operation. Under CEO and Co-Founder Jennifer Hyman’s leadership, RTR has been named to CNBC’s “Disruptor 50” five times in ten years, and has been placed on Fast Company’s Most Innovative Companies list multiple times, while Hyman herself has been named to the “TIME 100” most

About the Team:

Data is core to our business and has been ingrained in the company's DNA since its founding. The Data Science team extracts meaning from RTR’s many rich customer interactions and partners with decision-makers across Product, Finance, Inventory and Ops to turn insights into actions. The Data Science team manages data models, defines and analyzes performance metrics, builds reporting, runs A/B experiments, and develops predictive models.

About the Role:

Inventory is the largest asset on Rent the Runway’s balance sheet and among our most important competitive differentiators. We collect and codify a tremendous amount of information on the inventory we buy and how our customers use it. We are looking for a Data Scientist to support our Inventory team in putting this data to use, helping us bring more science to the art of fashion. In this, you will partner closely with our Inventory team members to optimize how inventory is balanced across our warehouses, as well as designing and iterating on the pricing strategy for our rental and resale businesses. You will identify clever adaptations of solutions from other industries and flex your creative muscles to drive serious business impact!

Responsibilities: 

  • Identify new opportunities to leverage data science (in areas such as pricing, demand forecasting, inventory longevity, and profit modeling) that improve buying and operational decisions
  • Own optimization of the inventory balancing strategy, and associated metrics and reporting
  • Work in close collaboration with Inventory and Finance stakeholders to develop the pricing strategy for our rental and resale business
  • Design and test pricing models and their evaluation frameworks
  • Determine and calculate KPIs to objectively evaluate inventory health and performance
  • Contribute to our inventory data model, creating new reusable tables with built-in data validations and extensible architecture
  • Build data tools and dashboards that empower various stakeholders throughout the organization

Qualifications:

  • Bachelor’s degree in Economics, Statistics, Mathematics or related fields; advanced degrees and/or specializations a plus
  • 3-5+ years experience in a data analytics and/or data science role, using quantitative analysis to solve challenging, real-world problems (domain experience in pricing or promotions is a plus)
  • Hands-on experience developing and deploying ML and statistical models in Python
  • High proficiency in using relational databases and writing queries in SQL
  • Experience with business intelligence tools such as Tableau or Looker
  • Track record of building strong relationships with cross-functional partners
  • Ability to independently create end-to-end plans for analytical projects
  • Ability to communicate effectively with a range of audiences

Benefits:

At Rent the Runway, we’re committed to the wellbeing of our employees, and aim to create a workplace that fosters both personal and professional growth. Our inclusive benefits include, but are not limited to:

  • Paid Time Off including vacation, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
  • Universal Paid Parental Leave for both parents + flexible return to work program  - because we know your newest family member(s) deserve your undivided attention.
  • Paid Sabbatical after 5 years of continuous service - Unplug, recharge, and have some fun!
  • Exclusive employee subscription and rental discounts -  to ensure you experience the magic of renting the runway (and give us valued feedback!).
  • Comprehensive health, vision, dental, FSA and dependent care from day 1 of employment - Your health comes first and we’ve got you covered.
  • 401k match - an investment in your future.
  • Company wide events and outings - our team spirit is no joke - we know how to have fun!
  • Office centric work - our corporate employees and technical leaders have the option to work remotely on Fridays, in accordance with Company policies.

Rent the Runway is an equal opportunity employer. In accordance with applicable law, we prohibit discrimination against any applicant or employee based on any legally-recognized basis, including, but not limited to: race, color, religion, sex (including pregnancy, lactation, childbirth or related medical conditions), sexual orientation, gender identity, age (40 and over), national origin or ancestry, citizenship status, physical or mental disability, genetic information (including testing and characteristics), veteran status, uniformed service member status or any other status protected by federal, state or local law.

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The anticipated base salary for this position is $116K to $145K The actual base salary offered will depend on a variety of factors, including without limitation, the qualifications of the individual applicant for the position, years of relevant experience, level of education attained, certifications or other professional licenses held. 

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