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Top 3 Ways Inventory Visibility Reduces Overhead and Boosts Revenue

May 20, 2020 9:00:00 AM / by Caitlin Pellas posted in AskTreez

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In today’s cannabis market, there’s an overload of communication between retailers and brands around maintaining the buyer-brand relationship. In most cases, this overload is caused by a lack of real-time data being exchanged, making it so that both parties need to be in a constant state of requesting and sharing inventory level data to avoid stockouts. An unfortunate side-effect of this manual communication strategy is that it’s become customary for buyers to stock brands that they have a good relationship with instead of using data to inform these revenue-driving decisions. This forces brands to spend a lot of time communicating with buyers about sales and inventory levels in order to coordinate orders since sales data isn’t being proactively shared with them.

Due to the current instability and unpredictability of the market, the average cannabis retailer in California is dealing with 14+ distributors who all have unique schedules and processes, making them even more time-consuming to manage. As a result, retailers need to keep full-time buyers on staff to manage the sheer volume of communication around the logistics of ordering. By proactively exchanging real-time inventory & sales data through a secure channel on a defined schedule, retailers can make a material impact on their business and the cannabis industry as a whole. With this in mind, let's take a look at the top three ways that providing inventory visibility will reduce labor costs and supercharge the supply chain.

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Unlock Expert Tools that will Simplify the Cannabis Supply Chain

May 14, 2020 9:00:00 AM / by Caitlin Pellas posted in POS software, BrandTreez, AskTreez

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As cannabis brands and retailers know all too well, the cannabis supply chain is anything but simple right now. The average cannabis retailer in California is dealing with 14+ distributors per month which makes it all too easy to mismanage reordering timelines. New brands are entering the market so frequently that it can be overwhelming for retailers to discover the best new products, putting young brands at a disadvantage. Retailers have a lot going on and since lead times, ordering processes, case sizes, and payment terms differ from brand to brand, properly managing inventory on an ongoing basis can be challenging without the right set of tools.

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Improving the Brand-Retailer Connection

May 5, 2020 4:12:25 PM / by Caitlin Pellas posted in AskTreez

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In most other markets, retailers and brands are able to develop co-beneficial partnerships based on their ability to share information. Sephora, the world’s leading specialty beauty retailer, shares point-of-sale and inventory details with supplier brands, allowing for vendor managed inventory partnerships that save time and generate more profitability. Empowered by data, brands can control costs, grow market share, and increase sales at an influential retailer like Sephora. In the cannabis market today, there is an overload of communication around maintaining the buyer-brand relationship, but very little exchange of real-time data between retailers and brands. 

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How to Improve Product Branding & Retail Synergy by Sharing Sales Data

Apr 29, 2020 7:15:00 AM / by Caitlin Pellas posted in AskTreez

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When it comes to brand recognition, the cannabis industry is still in its infancy. The market is currently flooded with brands and products and consumers are presented with something new every time they shop, resulting in an overwhelming shopping experience. Customers tend to seek cohesive experiences and don’t want to be bombarded or confused by having too many brand choices that ultimately do not appeal to them. In the time of COVID-19, consumer preferences and behavior are also shifting and the only way to identify new trends is by having access to real-time data. 

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Why Retailers Need to Share Data to Improve Inventory Management

Apr 21, 2020 3:02:54 PM / by Caitlin Pellas posted in AskTreez

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If you’re looking to optimize your retail business, having access to real-time data is not just convenient, it’s essential. You need to be able to reference consistent, comparative reporting in order to know what parts of the business are running smoothly and what areas require attention. 

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