Standardize Dispensary Inventory and Pricing with SellTreez Enterprise Product Management

Why is standardization important?

As the cannabis industry matures, increased competition requires increased sophistication in your operation. There are four typical phases in any industry's lifecycle: introduction, growth, maturity, and decline. Although this life cycle varies market by market, the cannabis industry is beginning to move from the growth to the maturity phase. Maturity in the cannabis industry leads with one major factor, consolidation through mergers and acquisitions. As businesses consolidate across the supply chain, dispensaries that position themselves to scale will win in the end.To scale your business effectively, you must maximize the skills of your human capital by providing standardization and automation wherever possible. SellTreez, and specifically SellTreez Enterprise Product Management, gives you the tools you need to effectively execute and manage your inventory and pricing strategy to uplevel your growth and mature your retail cannabis operation.

What is SellTreez EPM?

SellTreez is the essential tool of the Treez platform designed for dispensary and retail cannabis stores to run day-to-day inventory management operations smoothly and successfully. Today, we will be talking about Enterprise Product Management within SellTreez and the features baked in to scale retail cannabis operations. We will refer to SellTreez Enterprise Management in this article as SellTreez EPM. There are two core objectives built into the workflows of SellTreez EPM. The first is increasing the efficiency of your product and inventory management in one store or across multiple locations. The second is to standardize and easily manage your pricing across multiple dispensary locations. Let's take a deep dive into each of these core objectives and review how SellTreez EPM accomplishes each. 

Unified Product Management

The typical cannabis dispensary operation has thousands of SKUs to manage, just in one store. SellTreez EPM gives you the ability to manage all these SKUs in one centralized and standardized place. 

Workflow: Manage inventory across locations 

SellTreez EPM allows you to see all of your locations from one central view and manage product inventory from one place through a standardized product catalog. 

This robust product catalog lets you see inventory details front-and-center like brand information, product type, subtype, SKU, price, and when the product was last updated in the central catalog. For each inventory item, you'll be able to see which stores are carrying that item and the price listed for that item in each store. Additionally, you're able to filter and search products by brand, subtype, classification, tags, flavors, effects, ingredients, activated vs. deactivated products, and any other general information associated with your product data.

You can also easily edit the information for your products universally across all stores, including tagging the products with attributes, adding images, and changing pricing. In this view, you can also see the product's history of product changes in your catalog and when they were made.

Need to export your product catalog data? The SellTreez EPM central catalog also can download all of your products into a succinct CSV export.

Select "view product" in the central catalog to see what a particular product will look like on your website or e-commerce platform.

Workflow: Merge products 

If you end up having duplicate products, it's easy to consolidate. With the merge products feature, you're able to take two identical products, easily evaluate the information for both of them side by side, and keep the most relevant data. SellTreez EPM keeps your data clean and tidy this way, making life easier for both your employees and your customers. 

Workflow: Linking to BrandTreez

BrandTreez is another product within the Treez platform designed to connect inventory data directly from cannabis brands to cannabis retailers. Within BrandTreez, cannabis brands can upload comprehensive information for each SKU to their own central catalog. SellTreez EPM then gives you the ability as a dispensary to link and intake the product data from their catalog to your own directly. The benefits of this feature save your staff time and effort in adding new products to your catalog. Linking products directly from BrandTreez also builds consumer confidence with clean, professional e-commerce menus.

Keeping your data clean

SellTreez EPM is also built with optional safeguards to protect your data from being manipulated. For example, you can set up your permissions so that only folks who have access to the universal central catalog will be able to change product details, prices, pictures, and all other information. This safeguard ensures that your data remains clean and manageable.

Centralized Pricing Management

As a cannabis retailer, your pricing strategy is key to your success. SellTreez EPM gives you flexible enterprise-level pricing tools to manage pricing for all of your products across multiple locations.

Workflow - Flat and Tiered Pricing

You can edit, reassign, convert, build, and deactivate custom pricing tiers in SellTreez EPM. On the Pricing Tier Management page, you can see a complete list view of all your pricing tiers, which are active or inactive, which locations they are active in, and whether they are dependent on weight or units. 

Pricing tiers are assigned at the store level or assigned across the entire organization. Tiers assigned at the organization level will be made available across all products in your universal product catalog. 

Because pricing tiers can also be assigned to one particular store, you can test out a new pricing tier at one location and then later convert that tier to become available to the entire organization and all stores if it is successful. This flexibility makes it easy to bulk edit pricing for many products at once in your central catalog for all locations.

Takeaways

If you are a multi-state operator or plan to grow into multiple locations it is crucial to have foundational software tools that facilitate enterprise-level management of your inventory and pricing. 

SellTreez Enterprise Product Management is designed to just that, as well as connect your retail operations to cannabis brands directly through BrandTreez. 

If you're ready to standardize and streamline your inventory and pricing management for your dispensary, book a demo to see SellTreez EPM today.