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Toynk Toys Collaborates with Centric PLM for Improved Operations

Toynk Toys, a leading collectibles and licensed goods company based in Gilberts, Illinois, is taking a bold step to streamline its operations and foster significant growth. In a strategic move to elevate its manufacturing capabilities, Toynk Toys has chosen Centric PLM as its partner for Product Lifecycle Management (PLM). This initiative is aimed at fortifying the company’s expanding licensed manufacturing operations, which now encompass multiple brands and product lines.

Introducing Centric PLM

Centric Software® is known for its innovative, integrated, end-to-end AI-powered enterprise solutions that facilitate the journey from product concept to commercialization. With a focus on various sectors including fashion, luxury, consumer electronics, and home goods, Centric Software empowers teams to efficiently plan, design, develop, source, and manage products within their categories.

As Toynk Toys continues to diversify its portfolio, which includes brands like Cardsmiths and Syndicate Collectibles, it is vital for the company to have a coherent and effective product management strategy in place. With operations that span over 46 global marketplaces, the complexity surrounding product data, vendor coordination, and licensor approvals has been increasingly challenging.

Challenges Faced by Toynk Toys

The explosive growth of Toynk Toys has brought about significant operational complexities. The prior system of organizing product data across fragmented emails and spreadsheets made it difficult to track product statuses and approvals. According to Gena Disney, Director of Digital Operations at Toynk Toys, the absence of a streamlined process was a major hurdle. She stated, “We have no single source of truth.”

An internal review of the company’s operations revealed that building a custom in-house PLM solution would not only hinder their time to market but also drain essential resources away from progressive growth initiatives. Stemming from this realization, the leaders at Toynk Toys opted to partner with a well-established market leader instead.

The Decision to Choose Centric PLM

After evaluating several PLM solutions, Toynk Toys recognized Centric PLM as the frontrunner. Disney shared, “I needed to find something that was vetted in the marketplace.” She emphasized the importance of adopting best practices and pointed out that it became obvious that Centric PLM would effectively meet their needs.

The implementation plan involves utilizing Centric PLM for internal team operations as well as incorporating an external vendor portal for seamless collaboration and approval processes. Integrally, Toynk Toys plans to integrate these new systems with NetSuite, creating a cohesive framework to enhance operational efficiency.

Anticipated Benefits

The partnership with Centric PLM is anticipated to yield numerous benefits for Toynk Toys. A primary goal is to create a unified source of truth, reducing manual efforts and increasing transparency and accountability across teams. With lessened errors and enhanced reporting capabilities, Toynk Toys expects to make informed decisions regarding future planning and license expansions.

Fabrice Canonge, CEO of Centric Software, noted that Toynk Toys is at an exciting juncture as they scale their licensed manufacturing across various brands and categories. He stated, “As licensing complexity increases, having a single source of truth for product data, approvals, and collaboration becomes essential.”

Looking Ahead

Toynk Toys remains committed to driving innovation and efficiency in its operations. With the support of Centric PLM, the company is set to lay down a strong foundation for visibility and sustainable growth. As Toynk continues to design, manufacture, and sell an array of licensed collectibles and consumer products, the collaboration with Centric Software promises a transformative journey that will guide them toward achieving their ambitious growth objectives. To learn more about Centric PLM, visit Centric Software.

In summary, Toynk Toys is not just enhancing its manufacturing process but is paving the way for a sustainable future by partnering with Centric PLM. This strategic collaboration is set to revolutionize the way Toynk Toys operates and positions itself in the competitive landscape of licensed goods and collectibles.