WALTHAM, Mass., Feb. 19, 2013 /PRNewswire/ -- Profitect today announced that David Minster has joined the company's Board of Advisors. With more than 25 years of experience within the retail and technology industries, David will support Profitect's continued expansion in the U.S. and the increased demand for predictive analytics and Profit Amplification.
"I am very excited to be working with the Profitect team," said Minster. "Profitect is utilizing pattern analytic technology to help retailers improve margins in new ways. I look forward to helping them extend their role as an industry leader in Profit Amplification. Profitect's solution quickly leads to improved profit margins, which is at the core of everything we do in retail."
"We are so fortunate to have such a distinguished group of industry leaders on the Profitect Board of Advisors, and I'm pleased to welcome David as the newest member to the board," said Guy Yehiav, CEO, Profitect. "His experience in retail and strategic development will help us achieve the goal of continuously growing our U.S. market relationships, as his focus on communication will help promote corporate visibility as well as new ways of thinking."
David Minster was most recently the COO of David Yurman, where he created an extensive operations and technology infrastructure to support the business. Other previous positions include vice president and CIO of Elizabeth Arden, and director and CIO of Lever-Pond's Canada.
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.