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 & operations team at RTR works to deliver the customer mission by innovating through automation, process improvement, transportation methods, packaging, and garment science. In doing so, the RTR operations team owns the largest cost components of the business: fulfillment labor, transportation, and inventory care. While this is true of any e-commerce company, our subscription rental model and reverse logistics process introduce unique complexities to RTR. Given that garments are rented multiple times, returning garments to like-new condition is critical to maximizing the life of our inventory. RTR is thus not only tasked with scaling productive operational processes for traditional e-commerce functions but also with carrying out manufacturing-like processes such as dry cleaning and repairs. The variety of our inventory assortment - which has been expanding with the growth of new categories - further introduces challenges to implementing traditional technologies and solutions. Success on the RTR operations team requires the pursuit of constant innovation beyond conventional standards.
About the Job:
RTR is seeking an outstanding Senior Manager, Procurement, to join our team to manage and scale all spending on non-inventory goods and services. In this position, you will partner with cross-functional teams and interface with business leaders to support critical business initiatives. This role provides the opportunity to build and grow best practices for a quickly growing company.
What You’ll Do:
- Develop & execute best-in-class procurement strategies to ensure business continuity for all fulfillment goods and services, meeting budget, cash flow, and quality requirements.
- Establish, track and monitor key operating metrics. Identify and execute projects to improve metrics to decrease costs and increase efficiencies throughout the supply chain.
- Lead Procurement Coordinators to manage procure-to-pay workflows from initiation to completion of purchase order placement, material deliveries, and invoicing for all sites.
- Ensure continuous supply and required inventory levels of non-inventory goods in compliance with cash flow and facility space requirements. Anticipate and proactively communicate any supply issues that pose risk or impact business operations to stakeholders.
- Maintain existing and build new supplier relationships to meet all fulfillment needs. Execute contract agreements for all goods and service providers in partnership with Legal to deliver value while minimizing risks to business operations.
- Build and maintain budget and demand forecasts in partnership with Finance and Operations.
- Partner with Finance and Accounting to lead discontinuous improvement to reporting and spend control standards and visibility across functions.
- Work autonomously in an ambiguous environment, seeking to understand business problems, scaling factors, boundary conditions, and the rationale driving overarching leadership decisions.
- 2+ years of experience in the job offered or related occupation of procurement & supply management.
- Proficiency in using business/technical software such as Excel and Word to build easy-to-understand business cases.
- Experience running RFP processes.
- Experience with best-in-class tools and processes, but with the ability to create them in a new environment.
- Strong communicator (Written and Verbal) and organized thinker.
- You function effectively and autonomously in an especially fast-paced start-up operating environment. You thrive on building new processes and managing time effectively to address high-priority items.
- Experience launching new processes from start to finish
- Experience leading and/or influencing procurement-adjacent process:
- Operations: receiving of goods, invoice approvals
- Accounting/AP: financial compliance, reporting
- Finance: budget, demand planning
At Rent the Runway, we’re committed to the well-being 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.