Inturn, an inventory solution company, said it partnered with the Boston Consulting Group to host its first-ever Working Capital Summit. The one-day event will take place on April 12 at Second, located at the Hotel Eventi in New York.
The summit aims to raise awareness of effective technology solutions in retail that optimize processes and streamline efficiencies to an audience of c-level executives, alongside retail operations and finance executives, consultants, and accountants, among other key players. This includes professionals in niche areas such as fintech, supply chain, inventory management and optimization, data/AI, and other leading investors.
Ronen Lazar, chief executive officer of Inturn and chair of the Working Capital Summit, said, “It’s time for back office innovation to become the main focus of every finance and operations executive. Improvements in supply chain productivity, advancements in inventory management and use of artificial intelligence each enable smarter decision-making and collectively contribute to optimizing working capital. These innovations will ensure the future viability and sustainability of the retail industry.”
Inturn’s solution defragments data, offers real-time inventory updates, simplifies financial and management processes, automatically downloads files and final transaction information and helps create a criterion for reporting metrics, ranging from product category margins to transaction duration. Buyers that use Inturn’s solution have bought up to 25 percent more units and spent 80 percent less time evaluating and purchasing inventory, the company said. In late 2017, the firm moved its headquarters one block away from its previous office to a larger space in Manhattan’s Chelsea neighborhood to accommodate its rapid growth. The move followed a $22.5 million Series B financing round led by B Capital Group, also announced last year.
The event will feature a keynote interactive video presentation by Max Levchin, chief executive officer of Affirm and cofounder of PayPal, as well as a series of panel discussions across four categories: Supply Chain; Inventory Lifecycle; Data/AI in Retail, and Shareholder’s Perspective.
Its supply chain panel will be moderated by Sarah Willersdorf, partner and managing director of The Boston Consulting Group, and features Sanne Manders, chief operating officer of Flexport, a shipping logistics company and Daphne Carmeli, chief executive officer of Deliv, a shipping solution firm. And its inventory life-cycle panel, moderated by Shyam Gidumal, the leader of consumer products and retail segment at Ernst & Young, includes: Lazar of Inturn; John Andrews, ceo of Celect, a predictive analytics solution for retail inventory portfolio optimization, and Gina Ashe, ceo of ThirdChannel, a platform that offers transparency for sales floor activity.
Poonam Goyal, sector head, senior research retail analyst at Bloomberg, will moderate its Data/AI in Retail panel, which includes: Greg Petro, ceo of First Insights, a solution for optimizing new product creation processes; John Squire, ceo of Dynamic Action, an algorithmic platform that identifies and offers solutions for “margin-eating disconnects” in businesses, and Bill Adler, ceo of True Fit, a data-driven personalization platform for footwear and apparel retailers.
And its Shareholder’s Perspective panel will be moderated by John Berg, ceo of Financo, a boutique investment banking company, and includes: Tom O’Rourke of Bain Private Equity; Annette Rodriguez of Warburg Pincus, and Andrew Ferrer of General Atlantic. Collectively, the panelists have worked with investors in Tom’s, Canada Goose, Gabes, Reiss, Tory Burch and Gruppo Axo.
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