WALTHAM, Mass., Feb. 28, 2013 /PRNewswire/ -- Profitect announced today that Daniel Corsten has joined the company's Board of Advisors. With his expertise in retail operations and supply chain management, and understanding of the software and retail industry, Corsten provides an unmatched combination of skills and knowledge that align perfectly with the Profitect solution.
Corsten currently serves as a professor of business at IE Business School in Madrid, Spain. He was also a founding academic of the Efficient Consumer Response initiative, where he researched and consulted for retail and consumer goods organizations such as Procter & Gamble, Unilever, Metro Group, and Sainsbury's to help them lower costs, understand shoppers, reduce out-of-stock, and create overall sustainable supply chains.
"In my research and consulting, I have found that a perfect supply chain requires collaboration and trust, but also rigorous analytical methods. Profitect's Profit Amplification solution can help bring these magic ingredients together," said Corsten. "In my many years of working with supply chain management and retail software companies, I have not seen a more efficient and effective predictive technology that is able to utilize patterns to 'ring out' all possible value from every segment of a retailer's supply chain the way that Profit Amplification can."
The Profitect Board of Advisors is very engaged in the strategy and direction of our company, and we are honored to have Daniel join our board," said Guy Yehiav, CEO, Profitect. "As a professor at one of the most prestigious international business schools in the world and someone who enjoys working within the retail supply chain industry to develop solutions, the Profitect team looks forward to learning from Daniel's vast experience in creating sustainable, efficient supply chains. We plan to utilize his insights to guide our roadmap to continued success."
Corsten has also taught and researched at St. Gallen in Switzerland, London Business School and the Wharton School at the University of Pennsylvania in the United States. Prior to his academic career, he worked for Bayer Leverkusen and AGFA in Germany and the United States. Corsten's corporate experience includes supply chain management, marketing and finance, and has worked in the automotive and retail software industries.
Profitect's Profit Amplification software, a pattern-seeking solution, enables retailers to quickly realize increased revenue and reduced costs across the entire retail supply chain. Profit Amplification pattern-seeking algorithms can "tell a story" by identifying the root cause of anomalies such as inventory distortion, on-shelf availability, shrink/waste/damage, or process compliance – helping retailers minimize the effort necessary to identify controllable factors which the solution translates into action. As a result, retailers can move quickly to prevent profit leakage at all levels of the organization, ultimately improving business processes and the top and bottom line.