How Azio Beauty improved inventory operations and customer satisfaction with Prediko

About Azio Beauty

Founded in April 2022, Azio Beauty is a self-financed venture that stands firm on its belief that high-quality skincare should not be a privilege but a right for every woman. Our core principle is to defy the conventional beauty industry norms, where the typical product is marked up at least 12 times its manufacturing cost. We pledge to deliver efficient skincare solutions that don't come with a luxury price tag, ensuring quality skincare for all.

The Problem

Azio Beauty, since its inception, achieved remarkable growth, generating £2 million in revenue within the first year and maintaining a monthly growth rate of 20%. This self-sustained growth strategy presented unique challenges in inventory management and financing. While the reliance on pre-orders fueled internal growth, it also introduced complexities, potentially leading to customer dissatisfaction and reduced profitability.

Commenting on the problems Azio Beauty faced before using Prediko, co-founder Jonathan Penna, said:

{{quote-1}}

Jonathan Penna, co-founder & CEO at Azio Beauty

How Azio Beauty solved this using Prediko

To address these challenges, Azio Beauty partnered with Prediko. The product offers solutions aligned with Azio Beauty's needs, including growth scenario planning, advanced inventory management, and financial solutions. (Read: Prediko helped Obsidian Piercing create a streamlined inventory operations workflow)

Prediko offers growth scenario planning, allowing Jonathan to create models based on seasonality and ad campaigns for informed decision-making. It also provides robust inventory management, helping Jonathan and his team assess inventory status, plan orders, and generate reports on product performance and inventory value.

{{quote-2}}

Results

Since implementing Prediko's solutions, Azio Beauty has seen significant improvements in key areas:

  1. Enhanced Inventory Management: Azio Beauty can now efficiently manage inventory, reducing overstocking and ensuring key products are consistently available, improving inventory turnover and sales.
  2. Financial Stability: Azio Beauty's financial stability has been maintained by financing inventory through Prediko, smoothing cash flow associated with a pre-order model.
  3. Elevated Customer Satisfaction: Improved inventory management ensures customers no longer have to wait for pre-ordered items, enhancing their satisfaction.

Read: How Kimaï leverages Prediko to save 20 hours/week on inventory operations.

Image of a few skincare products of the brand Azio Beauty
Image of a few skincare products of the brand Azio BeautyImage of a few skincare products of the brand Azio Beauty

20

February

2024

-

7

Min

How Azio Beauty improved inventory operations and customer satisfaction with Prediko

About Azio Beauty

Founded in April 2022, Azio Beauty is a self-financed venture that stands firm on its belief that high-quality skincare should not be a privilege but a right for every woman. Our core principle is to defy the conventional beauty industry norms, where the typical product is marked up at least 12 times its manufacturing cost. We pledge to deliver efficient skincare solutions that don't come with a luxury price tag, ensuring quality skincare for all.

The Problem

Azio Beauty, since its inception, achieved remarkable growth, generating £2 million in revenue within the first year and maintaining a monthly growth rate of 20%. This self-sustained growth strategy presented unique challenges in inventory management and financing. While the reliance on pre-orders fueled internal growth, it also introduced complexities, potentially leading to customer dissatisfaction and reduced profitability.

Commenting on the problems Azio Beauty faced before using Prediko, co-founder Jonathan Penna, said:

{{quote-1}}

Jonathan Penna, co-founder & CEO at Azio Beauty

How Azio Beauty solved this using Prediko

To address these challenges, Azio Beauty partnered with Prediko. The product offers solutions aligned with Azio Beauty's needs, including growth scenario planning, advanced inventory management, and financial solutions. (Read: Prediko helped Obsidian Piercing create a streamlined inventory operations workflow)

Prediko offers growth scenario planning, allowing Jonathan to create models based on seasonality and ad campaigns for informed decision-making. It also provides robust inventory management, helping Jonathan and his team assess inventory status, plan orders, and generate reports on product performance and inventory value.

{{quote-2}}

Results

Since implementing Prediko's solutions, Azio Beauty has seen significant improvements in key areas:

  1. Enhanced Inventory Management: Azio Beauty can now efficiently manage inventory, reducing overstocking and ensuring key products are consistently available, improving inventory turnover and sales.
  2. Financial Stability: Azio Beauty's financial stability has been maintained by financing inventory through Prediko, smoothing cash flow associated with a pre-order model.
  3. Elevated Customer Satisfaction: Improved inventory management ensures customers no longer have to wait for pre-ordered items, enhancing their satisfaction.

Read: How Kimaï leverages Prediko to save 20 hours/week on inventory operations.

Jonathan Penna

Co-founder & CEO at Azio Beauty

Co-founder & CEO at Azio Beauty

“Growing purely on pre-orders is complicated. Before Prediko our growth mostly relied on pre-orders which was impacting our customer satisfaction. They are frustrated to wait for production and delivery times. The other big pain point the missing revenue opportunity as customers are less likely to convert when a product is out of stock.”

“Prediko ensures Azio Beauty never runs short of their most sought-after SKUs while preventing overstocking on less popular ones.” Jonathan Penna, co-founder & CEO at Azio Beauty

“Prediko ensures Azio Beauty never runs short of their most sought-after SKUs while preventing overstocking on less popular ones.” Jonathan Penna, co-founder & CEO at Azio Beauty

Prediko's financial solution enabled Azio Beauty to purchase inventory without exhausting their resources or depending on traditional banking institutions that might be hesitant to lend to businesses with limited "assets to be used as collateral". Jonathan Penna, co-founder & CEO at Azio Beauty

Prediko's financial solution enabled Azio Beauty to purchase inventory without exhausting their resources or depending on traditional banking institutions that might be hesitant to lend to businesses with limited "assets to be used as collateral". Jonathan Penna, co-founder & CEO at Azio Beauty

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