Optimizing Inventory Though Insights and Innovation: 5 Things to Profitably Manage Cannabis Dispensary Inventory with Tim Schmitt

How to Flourish in Cannabis

We’re going right into the heart of cannabis retail challenges with Tim Schmitt, a trailblazer in cannabis supply chain technology. Tim and Brian discuss the critical importance of disciplined inventory management and how powerful data-driven decision-making in the highly competitive cannabis marketplace is. Tim shares his insights and innovative solutions, from optimizing operations with AI-driven forecasts to strategic purchasing practices that ensure dispensaries not only survive but thrive. This masterclass in regulated cannabis offers you a roadmap to profitability, spotlighting the symbiotic relationship between technology and traditional retail wisdom in navigating the complex cannabis industry. Tune in for a conversation that promises to elevate your understanding of cannabis retail, making complex concepts accessible and actionable for anyone looking to make their mark in the cannabis world.

Chapters:

• 00:00:00 - Kicking Off: Navigating Success in Cannabis Retail
• 00:01:17 - Unveiling the Tech Wizard: Tim Schmidt’s Journey
• 00:02:53 - Unlocking Prosperity: The Power of Data in Dispensary Management
• 00:05:22 - Data Deep Dive: Transforming Inventory with Insights
• 00:09:39 - Simplifying Success: The Art of Vendor Consolidation
• 00:11:45 - Efficient Ordering: Best Practices for Streamlined Supply
• 00:14:02 - The Vendor Partnership: Building a Cohesive Cannabis Supply Chain
• 00:16:03 - Mastering the Market: Strategies for Smarter Inventory
• 00:18:27 - Analyzing Trends: Using Data to Drive Inventory Decisions
• 00:21:25 - The Blueprint to Profit: Budgeting and Championing Bestsellers
• 00:23:40 - Allocating Resources Wisely: The Art of Budget Management
• 00:27:15 - Cultivating Growth: Leveraging Tech for a Thriving Dispensary
• 00:30:11 - Final Nuggets: Essential Insights for Elevating Your Cannabis Venture

Happy Cabbage Reports referenced:

• Report
• Buyers 2.0 Restock Report: AI-powered Intelligent Restocking

Links and Resources:

• Tim on LinkedIn
• 240 Logistics
• Tim will be speaking at the 4/17 Cannabis Innovation Summit
• Flourish Software
• Brian Weber on LinkedIn

Thanks so much for joining us this week. Want to subscribe to How to Flourish in Cannabis? Have some feedback you’d like to share? Connect with us on Spotify, Apple Podcasts, and YouTube to leave us a review!