Loop & Manufactured Overview
Inventory financing, product scaling
Why - Manufactured
Manufactured provided Loop with the ability to quickly scale by providing inventory financing and supply chain management. The Loop team was able to decrease per unit cost without sacrificing quality and gained resources back to focus on product innovation.
Loop is a digital frame that connects your family through pictures and videos. You are able to text and sync up your phones from different social media profiles.
Started as a private social media platform to share family pictures, Loop has now turned into the most elegant and user-friendly digital photo frame on the market. “I wanted to share pictures of my newborn son with my family and friends, but Facebook was too public,” explains Brian Gannon, CEO of Loop. “So I started searching around and realized that me, as well as a lot of other people felt the same way. They were all putting together a hacked version of tools, like text messages, emails, and private groups and it was just this big ugly mess in order to keep the 5 – 10 people they care about the most up to date and involved in their lives.”
“I started a private social media platform, like Snapchat for the family. But then my dad was hospitalized and had mobility issues and I realized that swiping on an iPad was too much for him. So I built him a wifi display screen and connected it to my app. And that’s how the digital frame concept was born with the brand promise that it will be an easy way to share pictures with your family and stay connected. Now families download the app and network their homes with the Loop frame and have their own private family network. Even kids love looking at the images so it’s great for all generations.”
“I started a private social media platform, like Snapchat for the family.”
– Brian Gannon, CEO of Loop
Vendor Mangement & Inventory Financing
Loop + Manufactured
“One of the challenges we had was vendor management”, explains Brian Gannon. “We didn’t want to build a massive supply chain organization because that would be overkill, but we couldn’t have nothing. Part of the issue was the time and effort it takes to create a relationship with a vendor. You need to fly to the vendor’s state or country, monitor supply chain, shipping, logistics and quality. We didn’t need an army of people, but we needed something. We also wanted to add factories to diversify our supply chain ecosystem, so that’s where [Manufactured] comes in.”
Manufactured took over Loop’s existing vendor relationship and onboarded a new vendor. “Manufactured qualified and took care of all the quality assurance aspects, so we were able to onboard a new manufacturer. Because we didn’t have to worry about the supply chain side of the business, we had time to focus on the software and innovation.”
“Another challenge we had was that we didn’t have enough capital to buy in large quantities”, says Brian. “Our initial order was all pre-funded by customer purchases. The issue with that is that it’s not scalable and sustainable. The manufacturers expect a larger second order, which means more capital. Most importantly, customers don’t want to wait months after purchasing to receive their frame.”
Manufactured was able to provide inventory financing for Loop’s next round of inventory. “Financing opened up so many opportunities”, explains Brian Gannon. “We were able to purchase more and at a lower cost per unit due to the quantity and counter quotes provided by other vendors. We improved cost without sacrificing quality.”
Simplifying the manufacturing process
With over 500+ vendors across 25 countries, we will make your manufacturing process a breeze.
We handle everything from vendor quoting and negotiation to shipping and warehouse coordination.