Struggling to manage and track all your cannabis inventory?  Perhaps it’s time that you looked at professional inventory tracking software?

There’s no denying that running a cannabis dispensary and managing cannabis dispensary inventory costs is a full-time business. When you’re trying to run or start a new cannabis dispensary successfully, the last thing that you want to be focusing on is managing your inventory.

Unfortunately, as the owner and operator of a cannabis dispensary, the buck stops with you. Every gram of cannabis or cannabis product is ultimately your responsibility. Not only do you need to ensure that you have enough inventory for your clients, but you also need to ensure that you aren’t overstocked with goods.

Add cannabis compliance laws and regulations into the mix, and you can begin to see the epic amount of work ahead of you. The good news is that KEXY is here to help with its dedicated cannabis inventory software solution! While there are other cannabis inventory solutions, such as BioTrackTHC, Cova, LeafOps, Flow Hub, and Green Bits, KEXY is one of the most comprehensive inventory and ordering solutions available.

Inventory Management is an Ongoing Problem for Cannabis Dispensaries!

For anyone that’s been trying to manage their inventory, you already know what a colossal pain it truly is. One small discrepancy can take hours to track down and leave you in some dangerous hot water. An essential part of any inventory management is regular audits.

We understand that it’s a lot to think about and one of the least desirable tasks that any cannabis company owner wants to undertake, but it’s crucial that you don’t make any mistakes, which could cause you to lose your license. Lucky for you, there is software that can handle the entire process for you!

You put a lot of time and effort into your cannabis dispensary inventory costs and managing your dispensary. Having an effective inventory system which controls and manages your stock levels will ultimately save you time and money.

How Can You Easily Track Inventory at Your Dispensary?

It’s one of the most common questions that we get asked. Tracking inventory as it enters and exits the store seems overwhelming at times, especially when you’re busy. The most valuable piece of equipment you can purchase for your dispensary, along with cannabis inventory management software, is a POS software tracking system. In the following section, we’re going to look at some of the most commonly asked questions related to cannabis dispensary software!

Are you sure that your cannabis dispensary is compliant?

If you need to ask, then there could already be some issues with your inventory tracking. It doesn’t matter which state or country you’re operating in, compliance with regulation is one of the most critical issues you’ll face. Not only do you need to be compliant, but you also need to be able to provide that you’re compliant.

Many different states use the METRC (Marijuana Enforcement Tracking Reporting Compliance) to monitor compliance. Its intention is to facilitate the growth of the cannabis industry while discouraging illegal growing and sales.

If you need to comply with METRC, you can save yourself a whole lot of work and stress by using a sales and inventory management system that’s integrated with METRC.

Do you use calibrated scales, or are you relying on the displayed weight?

While most of your displayed weight will be accurate, you should never trust it 100%, primarily when your license relies on it. Even if you believe your suppliers, there’s no guarantee that the equipment they are using is 100% reliable all the time. You need to be weighing all your inventory as you receive. Ignorance is no excuse for mistakes, and the cannabis industry is particularly unforgiving.

You need to ensure that you’re using a National Conference on Weights and Measures certified scale. This will give you confidence knowing your measurements are 100% accurate. Also, don’t just use it, get it regularly re-calibrated and certified.

Have you broken down your products into different categories?

Think about it, flower, buds, edibles, liquids, oils, pre-rolls, concentrates, and so many more categories. Breaking down your products into specific categories makes it much easier to track and manage them. If you’re using a dispensary POS and inventory software, you’ll be able to assign new products as they enter and exit your business.

As a bonus, you can sink all these product categories into your digital menus and websites, giving customers accurate stock numbers and displaying any products that are out of stock. The more information you make available to clients, the easier it will be for them to make purchasing decisions.

Have you set proper PAR levels for your stock?

Your PAR levels are crucial!  Inventory for dispensaries is an ongoing concern for many cannabis dispensaries across the U.S. It will determine at what point of time you need to order new stock in order to meet your customer demand. This is especially important if you’re planning on running any promotions or you stock medical marijuana products that your clients rely on.

When you pair your inventory management system, POS system, and accurate PAR levels, you’ll never run out of stock again. Don’t get caught short! Get your PAR lists organized. Software like KEXY utilizes artificial intelligence capabilities that are able to track and adjust par levels based on your ordering habits.

Is your staff 100% reliable?

No business owner likes to think about the honesty of their staff, but the cannabis industry involves a lot of money and desirable products. The legal ramifications of missing stock are much more severe when you’re talking about cannabis products. The last thing you need is any problems with your license because a staff member is stealing from you.

Using an accurate cannabis inventory system with personalized logins will ensure that everything is kept on the up and up. If your staff understands that you’re keeping a close eye on weights and inventory, they’re much more likely to avoid taking any unauthorized bonuses.

Cannabis Dispensary and Tracking Inventory Conclusion

If you’re serious about your cannabis business, then it’s vital that you have an accurate, efficient, and easy to use cannabis dispensary inventory system in place. It’s the perfect way to ensure that you have inventory for dispensaries under control and you don’t run into any issues. The good news is that there are a variety of different options available for cannabis dispensaries to choose from as we previously highlighted above.  

 

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