Mad Street Den an award winning AI company announced its acquisition of New York based Inturn which provides enterprise consumer brands a system of record to manage and optimize slow-moving or excess inventory.
For the last decade, Mad Street Den has created AI-based solutions, through its Vue.ai business unit, that help retailers grow their business by reducing operational costs through automation and increasing revenue with personalized customer experiences. Combining Inturn’s inventory workflow tools and margin optimization capabilities together with Vue.ai’s retail AI suite, customers now get the power to not only effectively use AI to optimize supply chain processes and planning but also weave it into customer experiences to create efficiencies across the entire retail value chain.
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“The process for identifying and selling excess inventory is archaic, manual and error-prone, leading to a hit in both top and bottom lines of any brand’s business.” says Ronen Lazar, co-founder of INTURN. “With inflation driven margin pressures, inventory optimization is top of mind for every company. As well, recent inventory volatility due to supply chain disruptions combined with the shift in consumer spending has resulted in significant increase of excess inventory. Adding Mad Street Den’s AI capabilities to drive further automation and predictability will enable our customers to further optimize for both cost savings and margin improvement.” added Ronen.
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“If you’re tracking the market today, inventory management is everything for businesses globally right now. Tier 1 retailers and brands are struggling to manage excess, unsold inventory. Riding through this economic downturn and successfully showing up on the other side is not just about biding time for them, it’s about actively finding ways to deal with the changing winds and the new reality. Inturn fit our roadmap like a glove. We’ve been product tagging, providing insights and powering demand and inventory analysis with Vue.ai for years now and the Inturn promise fits the continuum of that workflow by allowing buyers and sellers to connect, sell faster and maximize recovery. The product is top notch and the customers who used them have been thrilled with the company. It was a no-brainer for us,” say MSD founders, Ashwini Asokan & Anand Chandrasekaran.
