WATCH Insights on AI Inventory Optimization from Syrup’s Founder

Syrup CEO and Co-founder James sat down for an in-depth Q&A with Sara Ittelson, Partner at Accel and lead on Syrup’s 2023 Series A fundraise fundraise. Watch the full video below or scroll down for a few highlights from their chat.

Market Preconditions and Data Triggers Behind the AI-Fashion Renaissance

Data was a recurring topic as James walked Sara through Syrup’s origin story. Building on his econometrics background and consulting work supporting fashion brands, James and the founding team witnessed the perfect confluence of data availability, AI advancements, and fallout from the COVID-19 pandemic. Inventory management was hard enough pre-COVID, and the additional disruption only accelerated the need for innovative solutions. Luckily, this dovetailed with two important advances: easier access to important demand prediction data and early innovation in AI inventory optimization, driven by increased computing power.

Navigating Doubt and Confusion About AI Inventory Optimization

Syrup helps brands modernize traditional demand prediction and inventory management methods with AI that delivers accurate forecasts and streamlines inventory across channels, enhancing agility and profitability. But as James pointed out, belief in AI’s potential is paradoxically being challenged by AI’s explosion across industries.

With just about every software provider leaning into AI messaging, cutting through the noise has become difficult for interested planning and merchandising teams. James reiterated the importance of Syrup being an AI-first company — not legacy technology with AI sprinkled on top. He also emphasized Syrup’s commitment to being an educator, not a hard seller.

What Metrics Really Matter

Education is just one piece of the Syrup approach to delivering value. We prioritize usability, transparency, and tangible outcomes rooted in the metrics that matter most for inventory optimization. James emphasized the importance of boosting in-stock rates while reducing weeks of supply — the yin and yang of meaningful financial improvement for fashion brands.

Building tech that delivers on that promise doesn’t happen by chance. James called out the globalized nature of the Syrup team: we are committed to making the right hire to solve the problems that matter most to our customers, regardless of where home might be. And that commitment doesn’t stop at internal team members. As you can see in the conversation, we also partner with investors who are passionate about the fashion/apparel space.

Thanks to Accel for the Spotlight On James. Looking for even more great conversations? Catch up on all Spotlight On episodes here.