Traditionally, medical marijuana dispensaries have purchased their inventory from independent cultivators, cannabis vendors, and brokers. The regulated market will eventually require cultivators to work directly with distributors instead of selling to retailers. However, during this transitional period most marijuana dispensaries are using licensed cannabis vendors to supply their storefront operation.
In this article, we’ll mention a few ways marijuana software can help manage cannabis vendors that are vital to your dispensaries supply chain.
Cannabis Vendor Profiles
One of the most important aspects of managing cannabis vendors is keeping an organized database of the various vendors you deal with on weekly or monthly basis. Creating profile for each of the cannabis vendors your purchase product from will help you identify and easily contact those cannabis vendors who supply superior strains.
Included in each cannabis vendors profile is their name, their license or registration number, a description of their services/products, and all of their contact information. These critical pieces of information will make reordering stock and making payments easy and efficient.
Cannabis Vendor Batches
Every time your marijuana retailer purchases new product from a cannabis vendor, these are added to the dispensary inventory as batches. Each cannabis vendor batch will be a specific strain or product, the cost, the quantity, the date it was purchased and a unique batch ID number.
Marijuana dispensary staff can easily look-up a specific batch using the batch ID number or product name. This makes it simple for dispensary management to check on the initial quantity of the product when reconciling inventory and identifying which vendor provided a top selling strain.
Vendor Payment Status
Another advanced feature your marijuana software can provide is the payment status of each purchase from cannabis vendors. If there has only been a partial payment made to the vendor, the remainder will be displayed below the payment status when you use IndicaOnline’s industry specific dispensary software.
Dispensary owners or management can make a new payment using the POS software. It’s as simple as selecting the account you wish to pay from and entering the amount you wish to pay. Cannabis retailers also can keep track of consignments this way. There is an option to return the product if you see it isn’t selling up to your standards. Retail staff can quickly see how much they owe from the consignment and pay the vendor their share when returning the product.
Managing vendors is incredibly easy when you take advantage of the advanced features within your dispensary software. Find out more about our innovative services for cannabis retailers by signing up for a free 14-day trial of IndicaOnline.