(This is an abridged version of a story that appears in the January issue of Marijuana Business Magazine.)
As new legal marijuana markets emerge and states adjust their regulations, inventory management and forecasting become increasingly challenging for cannabis retailers and product manufacturers.
Regulatory shifts can mean unloading product that soon will no longer be compliant, then stocking product that meets new requirements.
And when new recreational markets come online, cannabis-related tourism can dip in established adult-use markets, causing sales to plateau.
Marijuana Business Magazine spoke with the owners of two vertically integrated cannabis operations and an infused product company to discuss the challenges of managing retail and wholesale inventory as well as strategies to navigate those challenges and how to improve inventory management.
- Manage wholesale and retail needs
- Make the most of technology
- Navigate new regulations, seasonal swings
In addition, Marijuana Business Magazine took a deep dive with executives from three tech companies to learn how cannabis businesses can leverage MJ industry-specific technology to improve inventory management and forecast which products should be stocked.
Click here to read these tech experts’ advice.