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VP, Inventory Planning and Optimization

Brooklyn, NY (Rent the Runway HQ)

About Us:

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, accessories and home decor from 700+ 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 influential people in the world and as one of People magazine’s “Women Changing the World.”

About the Job: 

Simply stated, the candidate we are looking for loves connecting customers and fashion, loves analytical work and has an incredible curiosity and bias for action that has been demonstrated throughout their career. We are not looking for a mercenary, rather we want a missionary. Someone who truly loves customers, fashion, numbers and shares our vision to democratize women's fashion globally.   

The VP of Inventory Performance and Optimization will be responsible for all operational aspects of Rent the Runway’s inventory. The VP is results-driven and has prime responsibilities in overall accuracy and integrity of our Inventory and has an extensive background in strategic/tactical logistics including inventory management, process innovation, benchmarking and KPIs, lead-time and cost reduction strategies. The candidate should champion continuous improvement efforts that meet the Company’s short and long-term growth efforts as it acquires more consumers.

What You’ll Do:

  • Lead the development and implementation of inventory strategy connecting what she wants with what we buy 
  • Connect executive members to the strategy aligning cross functional leaders teams to deliver on the core objectives
  • Optimize inventory life and utilization, and to maximize returns on inventory investments 
  • Oversee strategy for full cycle of inventory supply chain processes, including new receipts, inventory performance over life of inventory, attribution and distribution of inventory across the network, end-of life strategy and execution, and inventory controls
  • Act as key business partner for strategic cross-functional collaboration with Inventory Planning and Buying, Continuous Improvement, Quality Assurance, Customer Experience and Finance to ensure team alignment and that operational processes are optimized and throughput is maximized
  • Oversee the inventory-related operations budget and operating performance, along with key service, quality and cost metrics and focus on continuous improvement programs
  • Lead senior management routines to monitor core inventory performance, including delivering against product and service level agreements and cost objectives
  • Benchmark and work to understand similar environments in order to implement best practices and properly staff inventory management processes to maintain service level despite business fluctuations
  • Develop capabilities and inventory initiatives to support inventory performance over a multi-year horizon
  • Meet or exceed all customer expectations as they relate to the inventory 
  • Educate, inspire and instill RTR core values across all interactions and decisions
  • Ensure that we attract, develop, retain, and engage high performing teams in each department

Additional Responsibilities:

  • Develop the vision and lead our inventory strategy working closely with our buying team
  • Lead team performance and execution
  • Be amazing!

About You:

  • Bachelor's Degree in Business Administration, Logistics, Business Analytics or related field required; MBA preferred
  • Certification in Operations, Inventory Management, or Six Sigma highly desirable
  • Ten (10) or more years' experience in fashion and connecting analytical data to the customer experience
  • Proven track record for innovation, execution and delivering results to drive a performance culture
  • Ability to lead large teams towards the company’s vision
  • Demonstrated ability to frequently work with senior executives
  • Strong verbal/written communication and organizational skills
  • Skilled at multi-tasking and managing competing priorities

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 $230,000 - $265,000. 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. This position is also eligible for equity compensation.



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