Among the most relatable issues in Supply Chain Management is the ability to contain and manage the lead times and errors of other companies' processes and products. Any mistake, delay, or error in the supply chain servicing a retail outlet can cause massive delays and outages, leading to disappointment at the register. So how does a Cannabis Retailer move away from a reactionary supply chain environment?
Above all else, knowledge is power. Understanding and genuinely comprehending the retail outlets' consumption and consumer base is the first best step to tackling this issue. Through exceptional attention paid to consumers' habits, a set of metrics to vet and grade suppliers and manufacturers rapidly presents itself. These facts also motivate suppliers to find places to cut pricing and improve service and lead times.
However, secondary to none is relationships with suppliers and the Purchasing Teams' ability to generate new suppliers and manufacturers. Specifically, in Cannabis supply chains, the market experiences intense fluctuations in price, quality, availability, and everything in-between. This strong relationship enables explicit, constant, and transparent communication between all involved parties to approach these ever-changing aspects of the market proactively. By forming this open line of communication on all fronts, the retail outlet begins to put itself squarely in the realm of a supply chain that is non-reactionary.
So what is the real-time result of combining these two approaches to Supply Chain Management? These two concepts appropriately combined enable a retail outlet to have a much more effective marketing campaign often paid for by top-performing suppliers. Arguably the best result is obtaining menus and cultivation schedules either ahead of other retails. Generally, having a clear line of sight on the upcoming stock is the definitive factor separating a successful cannabis outlet from all the rest. Lastly, in times of market emergency or retail emergency, suppliers will rise to the occasion with and for the retail outlet enabling it to weather any given storm in the market.
Most Cannabis Retails experience one form of this or another. If your Retail outlet lacks modern marketing support, menu design, or supply chain outages, visit Thefamilytreeconsulting.com for assistance in developing the needed tools to execute a departure from reactionary supply chains properly.