As more and more U.S. states and countries unshackle the cannabis plant from criminality, new and exciting business opportunities abound. But these business opportunities are not as straightforward as other sectors mainly because of the onerous rules and regulations placed on this burgeoning industry.
It’s understandable that governments are cautious about something that was illegal for so long. They need to know about every step in the supply chain of cannabis — known in the industry as “seed to sale.” Are you familiar with this concept? We’ve put together 10 important things you should know before adopting cannabis seed to sale software.
10. What does seed to sale mean?
Seed to sale refers generally to the entire supply chain of cannabis production and sales, along with the regulatory requirements at every step from the farms and soil that grow the plant to the people who ultimately complete transactions with customers.
9. Why seed to sale is important
Compliance is not an option. Growers, distributors, and retailers can try to accomplish it on their own, but they will face a patchwork system that’s confusing and can lead to auditing trouble. Comprehensive cannabis software exists to perform this behind-the-scenes regulatory work. The fastest way to have your business — and dreams — go up in smoke is to be lax with compliance.
8. Full circus vs. one trick pony
One of the most important things to consider with seed to sale software is what else the platform provides. Some software is meant only for compliance and tracking, which means you’ll need an entirely different system for other business applications. This is an operational disaster waiting to happen. But there are enterprise resource planning (ERP) platforms that offer seed to sale compliance as part of their software suite. This is the sweet spot for growers, distributors, and retailers.
7. More than just compliance
A modern ERP platform will go beyond compliance, and the best ones are designed by the people who use them. They can help a retailer with inventory management and point of sale processes. They can track products to ensure safety and security. And the best platforms don’t just monitor a farm or greenhouse, they drill down to individual plants and track their entire lifecycle.
6. Data and more data
One of the trickle-down effects of a robust ERP platform with seed to sale capabilities is that not only do the growers, distributors, retailers, and governments get a wealth of information about cannabis products and business operations, consumers do as well. That means consumers can make better and more informed decisions, while growers, distributors, and retailers can build the kind of trust with consumers that makes them loyal customers.
5 .Inventory controls
All retail businesses want to know how their products are performing so they can important inventory decisions. This is especially crucial in the cannabis world because such products have an expiration date. An ERP solution with seed to sale management will inform you on what’s working and what’s not so you can upgrade certain strains or get rid of them entirely. It will also keep tabs on inventory and make sure nothing goes missing, which can be a regulatory migraine or even get you shut down.
4. Does your platform support POS?
There are many options for point-of-sale software in the retail world, however the cannabis industry is a little different. In the U.S., for instance, retailers can’t use major POS platforms because cannabis is still illegal on the federal level and these companies are afraid of the unknowns. So it’s crucial for your cannabis ERP solution to have POS capabilities. When designed specifically for cannabis sales, a POS system will improve product accuracy and speed up checkouts while providing meaningful data about consumer habits.
3. Secure and reliable
Data privacy is front and center in the retail experience, and with something like cannabis it’s even more important. That’s especially true for medicinal users who, like any patient, deserve to have their medical history kept private. Your ERP and seed to sale platform must be secure and reliable so access to products and sales information is properly controlled.
2. Are integrations important?
Yes! You want your ERP platform to coexist with important industry software, especially if you already use it. Menus need to update in real time, data needs to be accessed on the spot, patient medical credentials need to be verified, and bookkeeping must be accurate come tax time, to name just a few essential functions. Does your ERP platform work with delivery-only services? The more integrations the better.
1. Does this software make sense for me?
This is perhaps the most important question to ask yourself before committing to an ERP platform with seed to sale capabilities. Everyone will tell you they’ve got the best product, so it’s important to talk with people who’ve actually used the platform. It’s also important to demo the software yourself and with your team to make sure it works how you want it to work and isn’t confusing or overly complicated. Ultimately, it’s your business.
Now that you know all about seed to sale software and why it’s crucial for your cannabis business, find out why so many growers, distributors, and retailers are eager to simply their operations with the sophisticated ERP platform built by BLAZE CANNABIS SOFTWARE.