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All state governing authorities require licensed cannabis businesses to track and report their full inventory. To accomplish this, there are state mandated systems, such as Metrc, that cultivators, processors, manufacturers, distributors, dispensaries, and retailers must use.
These state mandated tools are meant to service the governing bodies, not the licensed cannabis businesses using it. Many businesses turn to their own tracking software.
In the cannabis industry, there are a few different terms that are used to refer to the software required by the state: Track and Trace, ERP (Enterprise Resource Planner), and Seed to Sale. Each of these have similar functionality but nuanced differences. All of them offer some form of traceability, supply chain reporting and a level of inventory control. However, not all of them meet the business needs of a growing operation.
This type of tracking software manages cannabis products through the life-cycle of the plants or the creation and distribution. Metrc is an example of a track-and-trace system.
A cannabis ERP is most commonly used by large cannabis businesses that have a single system to run their operations, including finance, accounting, CRM, and other reporting features. ERPs are a tracking system heavily focused on operations and government reporting.
Seed to Sale software is the most robust option for running cannabis operations because it encompasses features of both Track and Trace software and ERPs. This software is typically a suite of tools to support both the business operations and the product lifecycle.
Inventory Management: Easily organize and track both cannabis and non-cannabis products on location.
Mobile Access: Simplify the data entry process by collecting it at the point-of-action, preventing bottlenecks while promoting consistent and accurate data.
Integrations: Use APIs to share data between software solutions, maximize automation and create advanced reports.
Compliance: Keep operations in good standing with an integration with state compliance systems, such as Metrc.
Customer Relationship Management: Keep track of regular customers and your business relationships with them.
Invoice and Sale Tracking: Manage all invoices and payments at point of sale with customers.
Inventory Forecasting: Improve the sale process by empower growers to plan for future inventory and predict business revenue accurately.
Task Management: Use automation to manage workflows, streamline to do lists and improve employee productivity to drive a higher bottom line.
Yield and Financial Reporting: Have 24/7 visibility into your operation’s real-time data and metrics to make smarter business decisions for the future.
Barcode and RFID Scanning: Manage state mandated Metrc tags and track inventory with electronic scanning directly in the platform
Cannabis companies have a lot of options in which management software they use. The best seed to sale software is the one that works for their business. There are a few factors your business should consider before choosing a cannabis software: the pricing, your functionality needs and the future of the marijuana industry.
Are you considering a cannabis software for your company? Click here to set up a call with our team!
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