How Blue Apron's New CEO Is Measuring Improvement
Blue Apron (NYSE: APRN) has struggled since coming public. A botched transition to its new fulfillment center in Linden, New Jersey, led the company to pull back on marketing spend as it looked to improve its fulfillment capabilities. The results were extremely disappointing for investors, and the stock plunged about 70% from its IPO price. Late last month, co-founder Matt Salzberg resigned as CEO, and CFO Brad Dickerson stepped in to fill the role.
At an investors conference this week, Dickerson said the No. 1 metric the company is looking at is something it calls OTIF, which stands for "on-time, in-full." It's a measure of how many of its orders are delivered on time and complete with all the correct ingredients. OTIF suffered during the transition to the Linden fulfillment center. Dickerson says that Linden's OTIF rate is now on par with its other fulfillment centers.
Image source: Blue Apron.
Source: Fool.com
