As part of Dutchie’s ongoing webinar series, Taylor Stafford and Alyson MacMullan from CASA shared their insight for cannabis dispensary owners and operators when it comes to inventory and demand planning.
“40-50 percent of the money dispensaries bring in goes right back out to inventory.” - Taylor Stafford, Founder and CEO, CASA
The discussion's central premise was simple: inventory management and demand planning need to be at the forefront for cannabis retailers because inventory budget allocation is core to dispensary success and profitability.
Watch the full webinar: Advanced Inventory and Demand Planning for Dispensaries
The webinar’s key takeaways from CASA’s presentation included:
Defining Inventory and Demand Planning: Demand planning is the method to determine the precise amount of inventory for maximum profit/cash flow.
Expense of Inventory: Inventory is often the largest expense - or one of the largest expenses - for a dispensary. Putting the proper care and analysis into inventory and demand planning should be a priority.
Days of Supply = Dollars: Dispensaries should always associate the days of supply with a specific dollar amount.
Importance of Bottom-up Planning: Bottom-up planning is much more effective and accurate than top down planning.
Open-to-Buy: Spend time studying and learning the “open-to-buy”
Small Adjustments are Essential: Cash/profit/cashflow is the difference between surviving and thriving and a 5, 10, or 20% difference can be the difference between profitability.
Dutchie partnership is deep and meaningful CASA because CASA is the first software and services company to provide a solution to solve inventory management and demand planning challenges retailers are facing across the US and Canada. CASA’s software and services - which integrated with Dutchie POS - handles inventory planning, demand planning, reorder cycles, and sales analysis alongside dispensary owners and operators.