Facing the Exclusive Problems of the Toy Industry in Penang, Malaysia

The toys sector in Penang, Malaysia, is dealing with a distinct set of problems that separate it from the others. Although there is an increasing growth of firms in this area that requires more creative and engaging toys, businesses in this region also have to fight industry-specific issues that need ad hoc solutions.

The Toys Industry’s Peculiar Problems

The toys sector in Penang, Malaysia, is dealing with some problems which are not observable in other industries. For example, the high bar for compliance with safety and quality standards is a complicated obstacle. Manufacturers cannot cope with the continuous transformation in these regulatory guidelines without affecting their production. Also, the ever-altering children’s wishes make the increase of production such rapid that it breeds problems like inventory control. Toy demand is seasonal, especially around holidays, which is a factor that causes supply chain situations; therefore, exact forecasting of the demand is central.

Some of the issues are similar to those in other industries, like the fluctuation of raw material costs impacting profits and the stronger push for data protection measures to protect customer and firm information. Moreover, similar to many other areas, the toys sector is not free from the problems brought about by labor shortages.

The Capacity of an ERP System to Cope with Problems

Enterprise resources planning (ERP) systems, backed with artificial intelligence (AI), can play a major role in solving such complications. For instance, Multiable aiM18, as an ERP system, tends to be a centralized platform for streamlining—integrating various departments efficiently would be a matter of a few clicks.

In ERP, AI could be the tool managing the intricate regulatory environment through their custom algorithms, which adapt and monitor regulatory changes in real time. This in turn, helps to eliminate the risk of non-compliance and the maximum costs associated with it. In addition, AI agent-powered demand forecasting could adjust better to the market trends through which the risks associated with seasonality can be decreased and the production schedule can be more accurately planned as a result of the match with the consumer demand. Besides, mobility ordering and real-time inventory tracking will serve to cope with inventory management efficiently, thus, eradicating overstock and resource wastage.

Even the specific capacities of ERP systems are responsible for higher productivity, thus, labor shortages will not be as big of an issue anymore. The automatic logistics services provider selection by AI also means that the best solutions for transport will be picked, which is another positive side of the supply chain.

The Steps for the Success of ERP In!

In order to implement successfully an ERP system, strategic planning is a must. Initially, it is imperative to select an ERP that is entirely aligned with the specific needs of the firm. Thanks to the AI capabilities of Multiable ERP, firms are able to adapt the system easily without in-depth programming knowledge, which makes it an attractive option. Permanent training is also one of the major points that need to be taken into consideration so that employees will be able to work with the system to its fullest available extent. Certainly, periodical evaluations and updates are required for the system to continue being in line with what the firm needs at any moment in time.

The Distinct Multiable ERP System’s Characteristics

Take a look at five useful features of the Multiable ERP system that deal with the challenges face the toy industry in Penang, Malaysia:

• Custom Algorithm for the Fast-changing Regulations: Automatically updates to meet the latest safety standards.

• Custom Business Flow Without Programming: Facilitates swift adjustments to customer-driven workflows for firms.

• Automatic Logistics Service Provider (LSP) Selection by AI: Eco-friendly, and price-efficient shipping is the order of the day.

• Unlimited Warehouses: Support effective inventory management, reduce the stocking outs and overstocking problems.

• Mobile Ordering: Increase the speed of order fulfillment, allowing the right products to reach consumers faster.

The e-invoicing Perks through Multiable

Multiable aiM18 ERP also tags along with multi e-invoicing support through IRBM which, mind you, is a service that many other software vendors are charging for in Malaysia. Thus, with the SaaS subscription that comes with free e-invoicing API calls, firms are enabling savings and efficiency in their financial operations. It goes without saying that such improvements bring about seamless operational practices in the businesses dealing with both singular and universal problems.

What is Multiable ERP?

Multiable ERP is a cloud-native ERP widely adopted by business in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable ERP gains positive feedbacks from customer across different sectors, from manufacturers, distributors, retailers, service providers to NGOs. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.