Steve is a 21 year veteran of the drug store industry having most recently served as Vice President of Inventory Management for the Rite Aid Corporation. Serving in that role for the past 11 years, he was responsible for managing all facets of Rite Aid’s company-wide inventory investment, primarily focusing on store inventory, as well as the pharmaceutical and HBA/OTC reverse logistics functions. During his tenure, Steve took the lead in developing and implementing related inventory and return related policies and procedures and was instrumental in designing and implementing various programs and initiatives that helped improve Rite Aid’s inventory productivity, reduce return volume and significantly increase overall profitability. Under Steve’s leadership, total companywide inventory was reduced by over $750 million; inventory productivity improved by over 30%, total return volume declined by 40% and pharmaceutical return credit post audit recoveries exceeded $30 million.
Steve joined Rite Aid in 1990 as an accounts payable manager and served in a variety of capacities in the areas of finance, accounting, pharmacy services, logistics, and category management.
Prior to joining Rite Aid, Steve worked for 3 years as a supervising auditor for the international public accounting firm KPMG Peat Marwick. Steve holds an accounting degree from Susquehanna University.
Ed is a 12 year veteran of the drug store industry having most recently served as Senior Director of Pharmacy Inventory & Returns for the Rite Aid Corporation. In that role, he was responsible for the oversight of store pharmaceutical inventory as well as the pharmaceutical reverse logistics function. Ed was responsible for developing and implementing numerous inventory and return related programs that not only improved inventory productivity but also increased profitability. Under Ed’s direction, store pharmaceutical inventory was reduced by over $150 million and inventory productivity improved by over 20%. Expired pharmaceutical return volume also declined by over 20% while the creditable portion of expired pharmaceutical returns increased to 85% of total return value. Ed also developed, implemented and coordinated the highly successful pharmaceutical return credit post audit process that resulted in $30 million of additional manufacturer return credits being received.
Ed joined Rite Aid in 1998 as an Inventory Control Manager and served in a variety of capacities in Distribution, Logistics and Inventory Management. Ed has been very active in the industry, working as a retail representative for HDMA’s Return Task force, serving as a member of the Looking Forward in Reverse Logistics Conference steering committee, as a panelist at numerous HDMA conferences and participated in the development of the Understanding the Drivers of Pharmaceutical Returns report.
Prior to joining Rite Aid, Ed worked for the Genuine Parts Company in the role of Purchasing/ Customer Service Manager. Ed holds a degree from the State University of New York at Albany.