New states, such as Mississippi and North Carolina, are legalizing the recreational and medical use of cannabis. Because of this – we see the cannabis market expand rapidly under strict state law and regulations. Cannabis supply chain tracking is heavily mandated because it helps maintain a safe, regulated, and competitive market. Having seed to sale software, or ERP, such as SAP Business One will allow you to run your business more efficiently and ensure that your business stays compliant and on track.
What is Seed to Sale Software?
Seed to sale software is a specialized supply chain software that helps cannabis companies track the lifecycle of every gram of cannabis produced to the point of sale. These transactions can be with a vendor or directly to the customer.
There are several seed to sale software available designed with a specific focus on the cannabis industry. A good cannabis seed to sale software can integrate with hardware devices such as scanners, scales, and printers that will make it easy to record and update various metrics in the seed-to-sale process.
Seed to Sale Software Features
Cultivation is the root of all cannabis-centered businesses. Tracking the lifecycle of cannabis products from seed propagation, vegetation to flowering and harvesting is crucial in producing high-quality products. A seed to sale software enables you to monitor and automate your growth performance and help generate higher yields. Additionally, you’ll be able to supervise harvest data such as genealogy and potency, which can help you produce higher-quality cannabis by-products.
Processing and Manufacturing
Manufacturers can use seed-to-sale software to track metrics such as lab results to optimize product yield and help predict future yields. The software collects data as products are converted into final goods such as weight and dosage, ensuring you adhere to all state manufacturing laws.
A seed to sale software can help you manage inventory by creating unique ID and barcode numbers for different cannabis products. It also allows you to easily keep track of the goods you have on hand and make replenishments accordingly to avoid shortages or overstock.
Many dispensaries and retailers turn to seed-to-sale software for its POS (point-of-sale) functionality. A POS system enables storefronts to initiate loyalty campaigns and tracks customers’ purchase history and profiles. It also allows retail workers to establish purchase limits based on product type and weight equivalency, ensuring your business is always following state regulations.
Compliance and Best Practice
Since the cannabis market is relatively new, there are many laws and regulations that cannabis retailers must follow. Having an ERP system will ensure your day-to-day operations are up to code and that your processes maintain legal compliance. This includes paying applicable taxes and fees and recalling all potentially contaminated products.
Analytics and Reporting
An ERP system will allow you to see how well your business is doing by storing data and analyzing business trends. A seed-to-sale software will provide you with a birds-eye-view over your business operations, helping you make effective and profitable decisions for your business.
Benefits of a Seed to Sale Software
A seed to sale software simplifies the end-to-end tracking of the supply chain for different cannabis products. The software tracks real-time data at each stage in cultivation, manufacturing, all the way to point of sale. You’ll always be able to check in on your products at each stage of production.
Most seed to sale software provides an overview of data that includes:
- Seeds, cuttings and seedlings and where they originated from
- Total cannabis output
- The amount of cannabis sold
- The amount of cannabis returned, disposed of, and/or damaged
What Does ERP Mean for My Cannabis Business?
Before ERPs, businesses would rely on dozens of excel spreadsheets, which required manual entry. However, the cannabis market is rapidly growing, and we are now seeing facilities that house thousands of plants and dispensaries selling thousands of products. Manual entries have a high margin of error, most likely to result in inaccurate reporting data, jeopardizing your license.
Integrating ERP software into your cannabis company, such as SAP Business One, and your everyday business operations will improve efficiency by facilitating business processes through a single software. Additionally, an ERP provides you with security and data accuracy, crucial in protecting client or patient data.
Integrating seed to sale software with SAP Business One enables stakeholders to manage different departments in the organization on top of supply chain tracking. Modules such as back-office accounting, human resources, and more, can be fully integrated into cannabis ERP software to help you streamline work throughout various departments in your organization.
What are the primary benefits of an ERP system?
The greatest benefit of an ERP system is that it allows you to streamline your day-to-day operations and ensures you keep your license. Other key business benefits of ERP software include:
- Comprehensive business reporting tools with real-time data from one integrated database for all business processes.
- Ability to provide better customer service by providing quick access to customer information, quicker response times, delivery tracking and order accuracy
- Improved inventory planning to eliminate overhead costs and shorten fulfillment times.
What are the main challenges of an ERP system?
Responsible and accurate data entry must be achieved, or you risk having faulty data that can result in a suspended or terminated license. The integration process also requires extensive planning to figure out which processes need to be integrated.
Business owners and stakeholders should ensure they choose the right ERP system or it might prove ineffective. Make sure you understand all the key features of your software to make the most of your ERP.
SAP Business One for Cannabis
Having a cannabis ERP software, like SAP Business One in place, will ensure your business stays compliant by keeping track of real-time supply chain data while also allowing you to manage other departments in your business such as finance, marketing, and human resources. That’s what makes SAP Business One the best seed to sale software available, provided by Support One.
SAP Business One provides comprehensive business management tools for both small and medium-sized companies.