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Inventory management program named winner of the 2024 Pet Pitch Competition

News
Article

Inventory Ally was 1 of 3 finalists selected from the 60 startup companies competing in the annual Shark Tank-style program.

Inventory Ally pitch

Photos: Kristen Coppock, MA/dvm360

Emmitt Nantz presents Inventory Ally, an inventory management software program, to judges during the 2024 VMX Pet Pitch Competition in Orlando, Florida.

An inventory management company has been named the winner of the 2024 VMX Pet Pitch Competition. Inventory Ally created a software program to optimize inventory costs, reduce shortages, and decrease time spent on managing inventory, and presented it to judges at the annual Veterinary Meeting & Expo (VMX) event in Orlando, Florida.1

“It solves a major problem,” said Emmitt Nantz, MBA, cofounder and visionary of Inventory Ally. “A lot of [veterinary practice] professionals are tired. They’re getting a little bit burnt out because they don’t get to live that profession, and in part it’s because we have a lot of manual processes and systems that distract from delivering the excellent care and service they signed up for.”

A subscription-based service with an interface that’s easy to navigate, Inventory Ally can be used on a computer or mobile device as it helps practices streamline the ordering and inventory process. It also optimizes inventory and helps reduce costs by focusing on replenishment cycles. Users of the program have reported a 73% reduction in stockouts, 2 fewer days per week placing orders, and 1.7 hours less managing stock, according to Inventory Ally.2

“Inventory management doesn’t have to be complicated,” Nantz said, in an interview with dvm360, “PIMs [product information management system] is not the answer because it uses transactional data that’s incomplete and inaccurate. We’ve got a better solution. It can be easy. Stop doing what you’re doing because it doesn’t solve the problem.”

In its 7th year, the VMX Pet Pitch Competition is a Shark Tank-style program that has 3 finalists presenting their pitches to judges at the annual VMX event. The competition aims to provide new companies with the opportunity to introduce their products, services and solutions to thousands of veterinary professionals and practice decision-makers, according to a news release from North American Veterinary Community (NAVC), which hosts VMX.3

VMX Pet Pitch Competition winner

Cindy Trice, DVM, right, presents a award plaque to VMX Pet Pitch Competition winner Emmitt Nantz of Inventory Ally.

Following a period of deliberation, the judges panel make a live announcement declaring the winner. Cindy Trice, DVM, a member of the NAVC board of directors, announced this year’s winner.

“All of the pitches were really strong. We loved them. The reason we ended up deciding on Inventory Ally is that there’s a strong market for it, and there is a great economic and time savings for the clinic,” she told the audience.

Addressing Nantz, Trice added, “Your team is strong. You have a unique solution for the problem. We really appreciate you pitching.”

According to Gene O’Neill, CEO of NAVC, past winners of the VMX Pet Pitch Competition have gone on to lead successful business that are impacting the veterinary industry. “The VMX Pet Pitch Competition is more than a friendly contest. It gives inspired minds and entrepreneurs the opportunity to bring their inventive ideas to life, network with global leaders in the animal health care industry and receive mentorship and critical feedback necessary to position them for success and help accelerate their ideas into a thriving business,” said Gene O’Neill, CEO of NAVC, in the release.3 “The NAVC is thrilled to support these startup companies and help raise visibility for their exciting new products and creative solutions that will help our veterinary professionals deliver even better health care to animals.”

Selected from a pool of 60 startup companies, the finalists also included Radimal, a veterinary radiology service that relies on artificial intelligence (AI) to provide quick and accurate assessments and specialist consultations for veterinary X-rays; and Scribenote, a digital documentation tool that allows veterinarians to dictate hours of appointment notes within minutes, thanks to AI.3 “We appreciate all the pitches,” said Trice.

In addition to their turns on the competition stage, the 3 finalists are exhibiting their innovations in the VMX Startup Circle, in the exhibition hall, along with products from other companies that entered the competition. As the winner, Inventory Ally is also receiving $5000, a membership to Purina’s Pet Care Innovation Network (PCIN), and an invitation to the PCIN annual Innovation Summit in St Louis, Missouri.3

References

  1. VMX Pet Pitch Competition. Presented at: Veterinary Meeting & Expo; January 13-17, 2024. Orlando, FL.
  2. See how Inventory Ally works. Inventory Ally. Accessed January 15, 2024. https://inventoryally.com/pricing/
  3. NAVC announces VMX 2024 Pet Pitch Competition finalists. News release. North American Veterinary Community. January 3, 2024.
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