Types of Inventory Management Techniques for A Leading Designer Toys Manufacturer

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Sep 01, 2023, 18:00 ET

SpendEdge Helped a Toy Manufacturing Company with Inventory Management Techniques

NEW YORK, Sept. 1, 2023 /PRNewswire/ -- SpendEdge, a global leader in procurement market intelligence space recently engaged with a toy manufacturer based in America.

The designer toys manufacturer's primary aim was to decrease raw material and packaging material inventories in their manufacturing units and the finished goods inventories in their distribution centers. Additionally, the client wanted to drive efficiency and cost improvements across their supply chain.

Game-Changing Solutions:

After understanding the extent of the client's challenges, the SpendEdge team of procurement experts decided to carefully study the intricacies of each requirement carefully and create bespoke solution to suit the scope of the client's business model.

With the help of SpendEdge's inventory management techniques, the designer toys manufacturer better managed raw material and packaging material accounts at a factory level and made better planning decisions leading to lower finished goods inventories in the supply chain. Additionally, the company devised an agenda to categorize high inventory raw material and packaging material items and the key drivers leading to high inventories.

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About SpendEdge:

SpendEdge is a global leader in procurement market intelligence space acts as strategic partner to over 200 global procurement organizations delivering insights on category landscape, supplier identification, negotiation strategies, price benchmarking, cost modeling, sustainability practices, and more.

Over the past 2 decades, SpendEdge has worked with procurement organizations across regions, of varying sizes and belonging to several industries. They have helped their clients solve procurement problems of varying complexities. Going above and beyond, the organization heads to the best possible extent using different methodologies to deliver timely and actionable recommendations to support decision making.

SOURCE SpendEdge