Are you a cannabis distributor looking for a way to increase your effectiveness and increase your sales in a difficult economy? Consider updating the way you take your inventory!
In the world of the COVID-19 pandemic, business owners are looking for every possible way to massage their margins to ensure that they stay afloat in uncertain economic times. With cannabis distributor’s focusing on bringing their products to their customers, the last thing dispensary operators want to do is waste time on inefficient practices and operations.
If the pandemic’s impact on the sales and retail industry has shown us anything, it’s that every single last dollar matters. With bottom lines coming uncomfortably close to that dreaded red line, each operational decision and business practice can potentially make the difference between money saved and revenue lost.
Instead of relying on old inventory excel spreadsheets and outdated practices, future-focused cannabis dispensaries are utilizing the capabilities of automation to guide their cannabis inventory best practices.
Increase Your Effectiveness By Moving Away From Cannabis Inventory Excel Spreadsheets
Are you ready for a surprisingly simple way to increase your business effectiveness and quickly gain a competitive edge in the cannabis industry? The answer isn’t found in a product or service upgrade – but in how you manage your inventory.
Sounds crazy, right? But in an unprecedented time, cannabis dispensaries must adapt to new technologies quickly to ensure that they aren’t missing valuable time increasing their business reach and functionality. Too many distributors waste their valuable time and resources tracking their inventory through bulky and slow Excel spreadsheets to manually enter and track their product supply.
The risks of using manual methods to track inventory and navigate vendor pricing is inefficient in today’s digital market. Not only does the manual process eat away at valuable team member resources, but trusting your manual implementation of inventory can lead to mistakes, errors, and outdated information. Without updated inventory information, your sales team may risk moving ahead with running sales and fulfilling orders without the necessary cannabis products on hand.
What your business needs to thrive in today’s fast-paced market is a revisiting of cannabis inventory best practices. Instead of relying on an outdated or slow-moving cannabis inventory excel spreadsheet, consider the possibility of moving to a technologically-advanced, real-time inventory solution.
Adapt Your Business To The Future With Emerging Tech Solutions
What is the difference between the average taxi and an Uber? Or Blockbuster versus Netflix?
The answer should be obvious. One saw the change to the market on the horizon and adapted to meet the increasingly digital landscape. Business survival depends on leaders being willing to adopt new technologies to help increase their operational effectiveness. As a leader in the cannabis market, you cannot afford to have a regressive mindset in an increasingly chaotic market. Avoiding the adoption of new processes will only strain your operations and drag down your earning potential.
To help cannabis business owners move away from the pen and paper methods of inventory management, business technology solutions have emerged on the market to handle complex decision-making.
There are a variety of cannabis and CBD inventory tech solutions such as Cova, FlowHub, GreenBits and KEXY that offer industry-leading inventory management software. Many of these allow for real-time updating of current supply numbers, as well as access to the constantly-updated vendor information for resupply at the most effective pricing. From POS solutions to vendor-tracking processes, these automated services can help take care of the complex data-driven tasks you shouldn’t have to focus on daily.
No longer can businesses afford to be at the mercy of a simple spreadsheet. Instead, trust the automated capability of an advanced system to offer constantly-updated numbers and quick-change ability in real-time. As your cannabis dispensary adapts to new technology that helps teams and customers enjoy the best you have to offer, you will quickly see the benefits of a forward-thinking solution!