LOX Extensions: Finale Inventory Case Study
Overhauling their inventory management system to support their rapid growth
Medium Sized Business
Online and Wholesale Sales
Pat Bianchi, COO
“I would definitely recommend the product to everyone. Its simplicity yet scalability and speed is exactly what every inventory manager or COO must have!”
LOX Extensions’ Beginning
LOX Extensions began in 2010 when founder, Kirstyn Yanniello realized how difficult it was to find ready-to-apply hair extensions. Her options were limited to basic products that were time consuming to apply and high-end alternatives that were pricey and inaccessible. Delivery of a quality product often took weeks.
Looking to solve all of these problems – cost, quality, and ease of access – Yanniello partnered with Bianchi’ Salon owner Ralph Bianchi to create LOX Extensions. The two spent several years developing the product, during which time they listened to constant client feedback in order to get a better sense of what customers wanted in hair extensions. LOX continues to operate with this keen commitment to client satisfaction, by offering affordable hair extensions that showcase premium quality, ease of maintenance, and damage-free application.
The demand for LOX hair extensions makes it clear that Yanniello and Bianchi got the formula right. In approximately 4 years, their company had nearly doubled in size. Currently, they are looking to expand operations to new and foreign markets. Already, the company processes thousands of orders each month, via direct online sales, other distributors, and television.
LOX Extensions: Inventory challenges and the path to Finale Inventory
This rapid growth quickly tested the limits of the LOX inventory management system. The company initially relied on QuickBooks, which proved inadequate for high-volume reorders and tracking. In response, company COO Pat Bianchi attempted to use Visual Basic code and Excel formulation to supplement QuickBooks with a dedicated reorder process.
Recognizing the inefficiency of taking on that task as a COO, Pat looked outside of the firm for a more permanent solution. The search led him to Finale, which proved itself to be the tool he needed to start 2014 with a flexible inventory management system that could quickly import and export data, handle numerous barcodes, and be easily utilized by the warehouse fulfillment team.
Pat had Finale up and running at LOX Extensions within 24 hours, followed shortly by ShipStation, for easy tracking of orders and processing of returns from diverse marketplaces.
“After setting up the company info, I was up and running in a few hours thanks to the easy import and export features. I did some trial and error testing with magazines and other features to streamline Finale to my needs, but it was effortless. I was able to make mistakes and fix them without worry. Most programs do not allow this type and testing and tweaking without starting over.”
Most firms adopt the system over a few short days. And the speed of implementation translates to equally seamless adjustments as the system scales with the growth of a company. That’s something that LOX Extensions is counting on. But the effectiveness of the system was immediately obvious to the relieved COO.
Whereas Pat had once had to devote hours to reordering merchandise from factories overseas and suppliers in the U.S., now the task can be done in seconds, and with absolute certainty that the order will match minimum and maximum requirements. Similarly, scanning in newly arrived product used to take upwards of a full day. With Finale, this can be done in under an hour. Meanwhile, any defective products can be scanned out immediately, and factory returns tracked in real time.
“Finale has really helped our business to be more efficient,” Pat explains. “It has reduced counting errors to almost zero. It has also given me peace of mind in terms of inventory levels and value.”
LOX Extensions: The bright future
With just a few weeks’ experience using the core inventory management components, Pat is now proficient in Finale and will be integrating it with the company’s existing QuickBooks procedures. Additionally, Pat is taking it to the next level in the warehouse and is currently implementing Finale’s turnkey barcode solution.
Inventory management is no longer a problem for LOX, meaning that its COO is free to focus on overseeing the continued growth of the firm.
We wish Lox Extensions great success and know where to send anyone who’s after perfect hair extensions!