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 Team:
The Supply Chain team at RTR owns the largest cost components of the business – transportation, inventory care and fulfillment labor. This is true of any e-commerce company, but the subscription model introduces added complexity as garments are rented multiple times. This means two way time in transit is critical to customer satisfaction. As a part of the reverse logistics process, returning garments to like-new condition is critical to the ROI of our inventory assets. This requires scaling productive operational processes for traditional e-commerce functions as well as dry cleaning, repairs and other garment care specialties. The operations team at RTR works to deliver the customer mission by delivering on key metrics and innovating through transportation methods, packaging, automation and garment science.
About the Job:
The Senior Manager, Inventory Control and Loss Prevention is responsible for ensuring the integrity and accuracy of Rent the Runway’s rental inventory. At RTR, our inventory is high value-assets ranging from formal, black-tie gowns to handbags that retail for over $1,000. Unlike traditional e-commerce, the subscription rental model introduces exciting complexity where RTR is committed to establishing dominance in the circular economy.
In this position, you will report to the VP of Transportation and Planning and partner with cross-functional teams throughout the company. Today, this space is ambiguous with opportunity for the right leader to join the team and really put their mark on an incredible space. You will be our Sherlock Holmes. Diving into clues, chasing leads and bringing insight, based on the data to help shape and protect RTR and our customers by reducing product loss. You will have the opportunity to think wildly differently. For example, you want to stand up an insurance / asset protection program? Let's talk about it! All ideas are on the table. This space is critical therefore reporting to a VP with opportunities to present your work to our CSCO and President just makes sense. Given that RTR inventory is rented, as opposed to purchased, this position will be responsible for enhancing visibility into the location of inventory not only in our distribution centers, but also in its journey to and from customers. This role provides the opportunity to build measurement systems and design/employ mitigating initiatives that will minimize inventory loss and maximize inventory ROI.
Finally, drawing from a Steve Jobs quote “We hire smart people so they can tell us what to do”. We are looking for smart, passionate people who are self starters, with demonstration of exceptional ability. If this describes you, please apply!
What You’ll Do:
- Set and track KPIs, OKRs and strategic direction for inventory loss
- Own the Inventory Loss Monthly Business Review (MBR) - a written document that covers the targets, performance, trends, and progress on key projects and OKR
- Build relationships with cross-functional partners, acting as RTR’s subject matter expert for the sources of inventory loss with the goal of driving continuous improvement
- Determine and execute customer-facing policies and recovery strategies to recover the value of inventory lost by customers
- Partner with transportation team to recover value of lost and damaged packages
- Partner with the RTR tech and data science teams to launch initiatives that will improvement inventory management, such as inventory containerization
- Design innovation solutions to verify the receipt of inventory at RTR dropbox locations and warehouses
- BA/BS degree in Supply Chain, Analytics, Business Administration or other applicable field required
- 3+ years of professional experience or relevant internships in a highly analytical, data intensive and/or strategic role, preferably with experience in Supply Chain and/or online retail
- Experience in leading/collaborating with operations, tech and CX teams in the pursuit of building KPIs
- Ability to quickly recognize, diagnose and solve for challenges with a relentless desire to improve and go beyond the discrete task at hand
- Strong analytical, organizational, and written/verbal communication skills. Strong Excel skills are a must; SQL skills are a plus.
- You possess strong interpersonal skills and are seen as a natural team leader. You are a team player who works well with others in the face of challenges and a common mission.
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!
- Hybrid Work - when our corporate employees return to the office post COVID they will have the option to work remotely 2-3 days a week, in accordance with Company policies.
COVID-19 VACCINE REQUIREMENT:
RTR is requiring all US corporate employees to be fully vaccinated for COVID-19 in order to work in person, unless an employee requires a reasonable accommodation for medical or religious reasons. If you believe that you may require an accommodation, please apply for any roles that interest you and if hired, you will receive information on how to request a reasonable accommodation after your start date. RTR will evaluate all such requests in accordance with Company policy and applicable law.
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.