Inventum Customer Story

When you hear the name Inventum, an electric blanket might come to mind. It’s an understandable association, as the employees of this famous household goods supplier will tell you. However, their product range extends far beyond just heated blankets. Over the past 115 years, the brand has become a household name across The Netherlands. With such a broad range of products to manage, the supply chain comes with many challenges. Inventum has been using Slimstock’s supply chain platform for several years to enhance efficiency with excellent results: “Our meetings are now much more productive.”

Look around any household, and you will undoubtedly find something from Inventum. In addition to the Inventum brand, the supplier of household appliances also offers the Tomado and Carmen brands, helping it control one of the most significant market shares in the Dutch and Belgian markets.

“With these three brands, we can offer almost every household appliance with a plug,” says Wessel Smits, procurement manager. “From kettles and hair straighteners to refrigerators and luxury built-in dishwashers, we have it all.”

Smits has witnessed Inventum grow into a market leader in several product categories. Inventum products are sold across many retailers, including MediaMarkt, Expert, and EP. Additionally, its range is available through various online platforms such as Bol and Coolblue.

Although Inventum has no production facilities, Smits emphasises that the organisation is “not just a trading company moving products back and forth.” He explains, “We are an organisation that listens to customer needs and responds to market demand.”

Sustainability focus

To gain more control over purchasing, Inventum joined forces with Slimstock. The household giant is fully committed to sustainability, and implementing Slimstock’s supply chain platform, Slim4, is a valuable addition to curbing overstock and tackling rising inventory costs.

“Sustainability is in our DNA. We reflect that in our entire range,” says Smits, showcasing the energy-efficient labels on various products. “We also strive to be as sustainable as possible in our operational processes. Slim4 plays a pivotal role in underpinning our sustainability goals.”

Ordering based on gut-feel

Inventum manufactures its products via a network of suppliers across Europe and Asia. Products shipped from Asia come with long delivery times. Inventum felt the impact of the COVID-19 pandemic for quite some time, as the demand for household products surged and then suddenly plummeted, leading to increased inventory levels.

To avoid such bullwhip effects in the future, Inventum counts on Slim4. “The platform gives us better insight into delivery times, providing visibility across the entire supply chain and allowing us to order more effectively based on full container loads,” says Willem Meinen.

As an experienced buyer, Meinen notes several advantages of Slim4. The planning process is more efficient, and the time savings are also significant. “Our monthly meetings used to last half a day as we discussed our purchasing needs,” Meinen recalls. Much time was spent coordinating with various departments, such as sales, purchasing, and product management. “Our forecasts were more based on intuition before we started using Slim4,” he adds.

Purchasing takes the lead

Implementing Slimstock’s award-winning supply chain platform has significantly transformed the work patterns of Inventum’s supply chain team. Data-driven decisions have replaced the old-fashioned approach of ordering based on gut feel.

Previously, Inventum spent much time manually analysing the ordering process, but now, the platform handles these calculations autonomously. “We suddenly have more time as our meetings now only last an hour. That’s a huge difference compared to before,” says Meinen. He also notes that the driver for these meetings has shifted from sales to purchasing. “Our sales colleagues led the meetings in the past, telling us what they thought we should buy. Now, purchasing takes the lead. We review expected sales and make informed purchasing decisions.”

Stock value cut by 50%

This proactive approach has clearly paid off for Inventum, yielding significant financial benefits. For instance, since adopting Slim4, the stock value has been cut in half, saving millions and freeing up substantial working capital. At the same time, the turnover rate has increased from 1.5 to almost 4.5.

“You feel like the inventory is now under control,” says Meinen, supported by his colleague Alex Vernooij, who handles purchasing for small household appliances.

Thanks to the platform, Vernooij has also noticed a considerable improvement in the purchasing process. “We’re not focused on ‘slow movers’ but on large volume orders. Now that we can look further ahead, we can anticipate demand and purchase more cost-efficiently. We order larger quantities in bulk, placing fewer orders overall. Thanks to the data in Slim4, we know that the stock we order is right.”

All the data required in one view

The three men agree on the benefits of working with Slim4. “It’s user-friendly and very clear,” says Meinen on behalf of the group. “Thanks to the intuitive interface, you get a clear overview at a glance. You can immediately see the forecasted demand for an entire year.” He adds, “Where we used to be very reactive and constantly had to put out fires, we now have a proactive approach. This saves a lot of time and money.”