It isn’t often that an ERP upgrade sparks innovation, but that is exactly what happened when fan box firm Loot Crate partnered with NetSuite. Together, the companies created an assortment planner, which helps identify the best products to include in each crate and gain real-time analytics into business operations.
It’s now a core application for Loot Crate, the No. 1 player in the booming market for so-called “nerd boxes,” which are loaded with pop culture tchotchkes, such as a Back to the Future hoverboard replica or a Bill and Ted’s Excellent Adventure T-shirt and an array of action figures. Customers, known as “Looters,” subscribe to a crate that speaks to their fandom, but they won’t know what items are going to be included until the crate arrives.
Loot Crate, which competes with Funko in the ultra-hot market for selling custom collectibles as a service, has delivered over 14 million crates to subscribers in 35 territories since its inception in 2012. But to support continued growth, Loot Crate needed to get serious about its operational software, including financials, inventory and warehouse management. It needed a formal enterprise resource planning system.
Taking a chance on a cloud ERP
Loot Crate CIO Erich Gazaui joined the company from Beachbody in 2016 as it began focusing on making operations more efficient, including a plan to expand its product line without adding employees. Loot Crate currently manages over 5,000 products based on themes from more than 250 licensors, including film studios, game companies, comics publishers, professional sports leagues and personalities. This affords the company a rich, steadily growing product pipeline.