Trying to manage growth with manual processes and limited visibility across your Cannabusiness can hamper growth and reduce the opportunity to succeed when you are slow to move in a fast-paced industry.
As you expand your business, the need for increased automation and improved technology becomes a priority, and the reason why Cannabusinesses need to evaluate ERP software that can reliably collect data, manage production, provide real-time business insights, automate inventory and supply chain whilst maintaining quality assurance and compliance.
Whatever your role within the Cannabusiness industry, the following ERP software capabilities are important to your business and will give you the automation and management control that you need.
Let’s take a look at what’s important:
The one constant in the Cannabusiness industry is changing, and when you evaluate an ERP solution, this must be a key consideration.
Whichever software you choose must have the ability to adapt and modify processes without losing focus on growth and compliance.
Additional product offerings, more locations, changes to pricing and production are just some of the areas that require a flexible solution.
As requirements change, it’s also important that your solution can be easily integrated with other software systems such as CRM, can capture AI and data from multiple sources, and is able to track and manage growth across the entire business providing real-time reports and invaluable insights.
Having the ability to audit your end-to-end process is key to ensuring compliance and operational effectiveness.
Tracking your operations from seed to sale including plant production, plant processing, and tracking and delivery, provides the complete traceability needed for robust audit trails.
In addition to track and trace technology, an ERP solution that can facilitate tag and scan (RFID) down to plant, lot and plant level is a requirement.
Tracking the product lifecycle from purchasing receipts, manufacturing, stock movement, packaging, to sales orders and fulfillment help to provide your business with a transparent operation that is easily and comprehensively auditable. Having the option to also track waste, destruction and moisture loss provides additional auditability.
The Cannabusiness industry is heavily regulated with the highest quality and compliance standards, and so it is essential that an ERP solution should facilitate the necessary reporting, testing and required controls. Added to this, the industry has to carry out rigorous testing to ensure safety and potency standards are met.
Easy integration and connectivity help in ensuring compliance alongside saving time, cost, and resources, and delivering bespoke reports according to need is hugely beneficial.
Whilst compliance is costly in the Cannabusiness industry, a relevant ERP software solution will help to reduce the cost of being compliant by providing control, and will add to profitability without losing focus on quality and compliance.
Maintaining a close eye on inventory management not only aids traceability, but it also goes hand in hand with revenue and profit. If you can closely monitor your inventory – understanding the constraints and shelf life of ingredients and products – then you can optimise production.
Make sure you have the ability to maintain the right quantities, minimise waste and maximise sales by quickly identifying where and when to move production. Keep operations seamless and efficient by knowing when to switch resources and schedule production changes as soon as production reaches capacity.
Your ERP software solution should also give you granular visibility from the top down – inventory, lots, ingredients, finished goods, cost per gram etc. to enable better decision-making and minimise the risk of having cash tied up in inventory.
As well as business insights and data analytics, forecasting can also be improved utilising historical data to help forward planning.
Ultimately, your ERP software is tasked with enhancing and improving operations and so make sure it also ticks the boxes for ease of use such as having user-intuitive interface and is easily customisable to avoid the additional expense of extra training and support.
For peace of mind and the reassurance that you have made the right choice, narrow your Cannabusiness ERP software search to those that are built on trusted platforms. Do your research and make sure that it’s scalable, easily configured, simple to integrate with, and has referenceability – expertise within Cannabusiness, a strong functional fit and speed of implementation.
Check out hosting and data security options too, paying particular attention to guaranteed system uptime so that you fully understand the potential impact of downtime on your operations.
And, it should be enabled for web, mobile, and app-driven access allowing
employees, partners, and customers to interact anywhere and from any device.
Given the fast-paced business environment and the need to track operations in real-time, an ERP solution that’s accessible from anywhere and on any device is essential to any Cannabusiness operation. With access on-demand, everyone from the CEO to sales and quality control can act quickly with reports, dashboards and approvals immediately on hand. Instant communication saves time and ensures that everyone is connected and informed.
An ERP provider with a strong Cannabusiness solution will be able to understand and demonstrate how their software can help to solve your key business challenges.
From the outset, we get to know your pain points, listen to what’s working and show you where improvements can be made.
If you’d like to chat and discuss further, please get in touch or call 1300 998 594.