In the cannabis industry, particularly in cannabis production companies, inventory management is crucial for maintaining accurate records of product stock levels, tracking the movement of products, and ensuring compliance with state regulations (nobody wants to get the government on their bad side). A good inventory management software can help cannabis manufacturers streamline their operations, improve efficiency and accuracy, and reduce the risk of errors and compliance violations. In this article, we will discuss the best inventory management software options for cannabis manufacturers and the importance of using such a software. So you might be asking yourself, what is the best inventory management software for cannabis manufacturers and production facilities?
First, let’s discuss the importance of using inventory management software for cannabis manufacturing. As the cannabis industry continues to grow and evolve, state regulations have become increasingly complex and stringent. Many states now require cannabis manufacturers to track their products from seed to sale, which includes keeping detailed records of inventory levels, product movements, and compliance information. These regulations are put in place to ensure that cannabis products are not sold to minors, are not diverted to the black market, and are not at risk of harming end users.
In addition to compliance requirements, cannabis manufacturers must also keep track of inventory levels to ensure that products are always available for customers. Running out of stock can result in lost sales, while having too much inventory can lead to waste and increased storage costs. A good inventory management software can help manufacturers accurately track inventory levels, predict future demand, and make informed purchasing decisions.
Now, let’s take a look at some of the best inventory management software options for cannabis manufacturers and production facilities.
5 of the Best Inventory Management Software’s for Cannabis Manufacturers in 2023
*Note that the following are in no specific order.
This software offers features such as inventory management, point-of-sale, compliance reporting, and more. CannaLogic also offers a mobile app that allows manufacturers to track inventory levels and make updates on the go. They’ve been around for a good amount of time and have many great reviews from their users.
GreenBits is a point-of-sale system that also includes inventory management and compliance reporting although that is not it’s main function. It offers a simple and user-friendly interface, making it easy for manufacturers to track inventory levels and compliance information.
MJ Freeway, one of the bigger players in the space, offers a wide range of features including inventory management, seed-to-sale traceability, compliance reporting, and more. MJ Freeway also offers integration with other software and hardware, such as point-of-sale systems and barcode scanners, to streamline operations and reduce the risk of errors. We see MJ Freeway as being one of the industry leaders in cannabis inventory management.
Figgro cannabis cloud ERP is built 100% by the cannabis industry, for the cannabis industry. Unlike some of the others, it was not simply adopted to work for cannabis manufactures; the founders and developers were actually consultants within the industry for multiple years before creating this specialized ERP. Figgro offers a simple and user-friendly interface, making it easy for manufacturers to track inventory levels and compliance information, and is also 100% web based meaning it can be accessed from any device with an internet connection.
Figgro cannabis ERP offers integration with other software and hardware, such as point-of-sale systems like Paybotic, barcode scanners and printers, and also seamlessly integrates with both Metrc and BioTrack. Figgro is the best inventory management software for cannabis companies, specifically for manufacturers and production facilities.
Cultivera is a software designed to help businesses in the cannabis industry manage their operations more effectively. It provides a comprehensive solution that covers various aspects of a cannabis business, including cultivation, inventory and compliance. The software integrates key functions such as inventory management, order management, and some financial reporting. This helps businesses to streamline their operations and stay compliant with state regulations.
When choosing an inventory management software for your cannabis manufacturing business, it’s important to evaluate the features of each software and consider the specific needs of your business. Some software options may be more suitable for small businesses, while others may be more appropriate for larger manufacturers. It’s also important to consider the cost of the software and any additional costs, such as onboarding, support and maintenance fees.
In conclusion, using an inventory management software is essential for cannabis manufacturers to comply with state regulations, maintain accurate records, and ensure product availability for customers. By implementing a good inventory management software, cannabis manufacturers can streamline their operations, improve efficiency and accuracy, and reduce the risk of errors and compliance violations. In the end, cannabis ERP systems will actually save your manufacturing or production company time and money.
Picking the right cannabis inventory management software can be confusing and time consuming. We’re here to help! Want to learn more about the specific inventory management and other ERP features that figgro has to offer?
Contact us now through our web form, or contact us directly through phone or email to learn about figgro’s comprehensive software platform for the cannabis industry.
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