7thOnline, the premier provider of assortment planning and optimization solutions to the apparel, footwear, and accessories community, announced that the company has named Dr. Saman Hong as VP Analytics and Optimization Solutions. Hong has worked with 7thOnline on a consulting basis over the past year, and will join the company full-time in this new role.
Hong is responsible for the expansion of 7thOnline's optimization suite that enables retailers to improve financial and operational performance by leveraging sophisticated optimization algorithms in a user-friendly format. Hong joins 7thOnline with 30+ years of experience in retail technology and operations analysis.
Prior to 7thOnline, Hong founded and managed Varentas, a consulting and technology development firm to the retail industry. At Varentas, Hong provided custom development of analytical methods and systems for applications in planning, forecasting, and inventory management for top-tier retailers.
Prior to Varentas, Hong managed consulting services at PricewaterhouseCoopers and served as a Principal at Investcorp, a major private equity firm with investments in the retail and consumer products industries.
Hong has also served on the faculty at New York University, Rutgers University and City University of New York. He holds a B.S. in Physics from Seoul National University and a Ph.D. in Operations Research from Johns Hopkins University.
"Saman's expertise will be a tremendous benefit to our continued development of intelligent retail industry solutions," said Max Ma, CEO of 7thOnline. "He has an exceptional track record in developing complex scientific models for top-tier retailers that have driven significant revenue and margin increases, and we are excited to expand our optimization portfolio under his leadership."
marketing@alchempro.com
