Brushing up the supply chain to master inventory management
Dental care innovator achieves $17m inventory reduction and 150% productivity boost.
Overview
quip has rapidly emerged as a disruptor in the dental care industry with sleek, design-forward electric toothbrushes and a customer-centric approach. Their mission to make better oral health care accessible is supported by products available online and in retail stores, as well as a subscription service that accounts for 20% of their overall demand.
As their customer base and product lines grew, so did the complexity of their supply chain. To maintain growth without compromising efficiency or customer satisfaction,quip turned to ketteQ and its PolymatiQ™ Solver for an adaptive supply planning and inventory management solution.
Our decision to replace our legacy system with ketteQ to increase our inventory and supply planning capabilities was absolutely the right call. ketteQ stepped up with data integration, user training and transformation services that minimized any burden on internal business and IT, deploying solutions that help us grow our business and better serve both our customers and retail partners.
Challenge
quip’s rapid growth posed a critical challenge: their legacy system supply chain planning system struggled to keep pace with their dynamic market. The rigidity of their existing planning system limited accurate forecasting and optimal inventory management, resulting in sub optimalfill rates and excess stock.
quip faced a unique dual-demand structure: predictable subscription orders and variable new sales through online and retail channels. Their legacy system was not designed to handle these distinct streams effectively, leading to inefficiencies. To sustain growth and meet customer demands, they needed a flexible and intelligent solution capable of adapting to both subscription and market-driven demands.
At a glance
- Provides electric toothbrushes and other dental care products both online and in stores
- Trusted Salesforce Customer
- Implemented ketteQ for supply planning, aiming to reduce inventory and boost fill rates
- ketteQ created dual forecasts: one for predictable subscriptions and another for general sales
- Achieved a $17 million inventory reduction
- Realized a 150% productivity increase with fewer planners required
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Solution
quip partnered with ketteQ to leverage the power of the revolutionary PolymatiQ™ Solver which employs AI, machine learning, and predictive analytics to dynamically adapt to market changes, providing highly responsive supply chain planning. ketteQ worked closely with quip to quickly implement a solution tailored to their needs, allowing them to create two distinct forecasts: one for subscription demand and another for new sales.
PolymatiQ’s ™ high-speed scenario analysis and adaptive tuning enabled quip to quickly adjust to demand fluctuations, aligning their supply chain more closely with customer needs. By separating forecasts and applying intelligent scenario analysis, quip significantly reduced the risks of over- or under-stocking.
Results
By implementing ketteQ’s PolymatiQ™Solver, quip experienced a transformative impact on their supply chain performance.
- $17 Million Inventory Reduction
By separating subscription and new sales forecasts, quip streamlined their operations, improving cash flow and reducing excess stock
- 150% Productivity Increase
Enhanced efficiency allowed quip to manage supply planning with a smaller team, freeing up resources for strategic initiatives.
- Enhanced Fill Rates
Improved forecasting accuracy ensured faster and more reliable customer deliveries, strengthening quip's reputation for quality and service.
- Strategic Resource Allocation
Reduced reliance on manual planning enabled quip to focus more on growth and innovation, setting the stage for continued market success.
ketteQ's PolymatiQ™ solution didn’t just provide a new tool—it transformed quip's entire approach to supply chain management. By embracing anadaptive, data-driven model, quip is now positioned to continue its rapid growth and deliver the quality products their customers love.
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