ERP solution for Cannabis / CBD industry
In a rapidly growing sector like the CBD industry, the need for agile management that complies with regulations is crucial to maintaining a competitive edge. Companies are seeking specific ERP solutions that can not only effectively manage their supply chain and production but also provide complete traceability to ensure product quality and compliance.
With the diversity of businesses in this field, choosing the right ERP and integration partner is essential to ensuring the long-term success of your company.
The key benefits of using an ERP in the Cannabis Industry
Regulatory compliance and product traceability
In the cannabis industry, regulatory compliance is crucial. ERP systems tailored to this sector incorporate robust functionalities to track and ensure compliance with the strict regulations governing the production, distribution, and sale of cannabis products. From managing licenses to product traceability, these systems provide a comprehensive solution to minimize the risks of non-compliance and regulatory sanctions.
Moreover, product traceability is essential to ensure the quality and safety of products throughout their lifecycle, from cultivation to final sale. ERPs offer complete traceability, enabling companies to meet regulatory requirements and maintain consumer trust by ensuring the quality and origin of products
Recent advances in skills management and barcode technology further enhance this approach. Skills management has been adjusted to align with METRC training, now incorporating specific Odoo actions for METRC alongside industry-specific training videos for the cannabis industry.
Regarding barcode technology, integration with QR codes now enables the generation of COA reports based on site-printed labels, while also providing the capability to store and generate GS128 labels for internal use within the cannabis industry.
Agile management in the cannabis (CBD) Industry with an ERP
Efficient supply chain management is crucial to ensuring consistent production and reliable distribution in the cannabis industry. You can easily integrate your suppliers and partners into a centralized system, facilitating seamless and effective collaboration throughout the supply chain.
Using an ERP specialized in the cannabis industry will streamline various processes such as:
- Cloning
- Cultivation
- Extraction
- Production
- Distribution
An ERP system will enable you to manage your inventory in real-time to accurately track your stock levels, optimize your procurement, and reduce the risks of overstocking or stockouts.
Data-driven decision making
ERPs provide instant access to updated data and in-depth analytics, enabling you to have the necessary information for making informed decisions. You can:
- Access your data in real-time
- Analyze your company’s performance in detail
- Obtain an overview of your operations through dashboards
These tools will allow you to make strategic decisions based on accurate and updated data.
Key features of an ERP in the CBD industry
In the cannabis industry, the following features are particularly relevant to address its specific needs in operational management, regulatory compliance, and human resources management:
Business Intelligence and Reporting
The dashboard has been modified to allow drag-and-drop of locations and KPIs, multiple dashboards can be created and shared among user rights to monitor relevant KPIs for your cannabis business.
CRM and Sales Management
Sales have been modified for sales territories, allowing for more data and action-oriented dashboards, and enabling sample sending in a METRC-approved manner without having to generate custom small orders. Moreover, the Sales module has been linked to "price spiders" to allow for market data integration.
Discuss
For improved team communication, Odoo's basic discussion module has been modified to additionally consolidate all incoming messages into an inbox-like format.
Digital Marketing Campaigns & Marketing Automation
Customer loyalty has been modified for point of sale, rewards, and membership options to further interact with your Cannabis POS system.
Financial and Accounting Management
Consolidation has been revised. Integration with third-party payment providers has been incorporated to provide a payment veil. Additionally, workflows have been added to enable a quicker transition between business bank accounts and payment processors. We have also integrated a respected payment processor to enable debit card transactions that are accurately reported through the matching process.
Inventory Management
Inventory has undergone significant changes to match METRC compliance, activate QR codes, and integrate with delivery using routing features that are helpful for your cannabis business. Delivery vehicles now automatically generate virtual bins that can then be weighed upon check-in, allowing delivery drivers to carry temporary stock if needed. The ERP solution has undergone a significant redesign of how cycle counts are generated and the provisioning method for price depreciation on agricultural products.
Presence
The only significant change to barcodes has been integration with QR codes, the ability to generate COA reports based on labels printed on-site, and finally the ability to store and generate GS128 labels for internal use.
Manufacturing Planning and Tracking
Consolidation has been modified. Integration with third-party payment providers has been incorporated to provide a payment veil in the software solution. Additionally, workflows have been added to enable a quicker transition between business bank accounts and payment processors. We have also integrated a respected payment processor to enable debit card transactions that are accurately reported through the matching process.
Retail module
The point of sale has undergone significant graphical redesign, integrated METRC, and consolidated inventory with delivery. Offline access has been greatly accelerated. Additionally, customer feedback has been integrated, and order windows have been streamlined.
POS Restaurant
Address the specific needs of your restaurant or bar with a dedicated point of sale system. Manage orders, track your service and kitchen teams in real-time to deliver an exceptional customer experience.
Projects & Timesheets
These modules have extended deadlines, activity tracking, and workflows to support agricultural work tasks.
Purchasing Management
The purchase module now allows for COA tracking and full integration with METRC. It also features new built-in functions for advanced planning and reorganization so that capacity can be truly planned and future stockouts can be anticipated based on dozens of hypothetical scenarios.
Quality Management
Quality has been updated to align more closely with COA tracking requirements and allows for batch and serial controls down to the agricultural level.
Subscription Management
The subscription module has been modified to track recurring deliveries and prevent users from scheduling deliveries beyond legal limits.
Choose the right ERP for your business !
Odoo ERP
Opting for Odoo ERP in the cannabis industry provides a flexible and adaptable solution to meet the specific needs of this constantly evolving sector. With its modularity, Odoo allows for selecting relevant functionalities such as production management and product traceability while offering deep customization to align with strict regulatory requirements. Odoo's ability to provide comprehensive traceability and adapt to ever-changing regulations makes it a solid choice for businesses seeking to maximize operational efficiency while ensuring compliance.
Odoo GOLD PARTNER
- Worldwide ERP solution
- Based Cloud ERP Solution or On Premise ERP Solution
- Prices per users
- Adapted for small businesses and mid-market businesses
- +40 000 apps availables on Odoo Marketplace
Acumatica ERP
Acumatica is entirely cloud-based, offering accessibility anytime and anywhere, which is crucial for cannabis businesses that may need to access their data on the go or in regulated environments. Additionally, Acumatica's ability to manage the entire business lifecycle, from accounting to supply chain management to production, makes it a comprehensive solution for cannabis businesses looking to streamline their operations.
Acumatica VAR PARTNER
- North American ERP solution
- Based Cloud ERP Solution
- Prices per ressources
- Adapted for Mid-Market Businesses
- +150 apps availables on Acumatica Marketplace
Cegid XRP Flex
Cegid XRP Flex is a cutting-edge ERP solution specially designed to meet the complex needs of manufacturing and distribution businesses, making it a suitable option for the specific challenges encountered in the cannabis industry. By integrating features such as production management, product traceability, inventory management, and regulatory compliance, Cegid XRP Flex provides a comprehensive platform to effectively manage operations in a highly regulated environment like the cannabis industry.
Cegid Partner
- European ERP solution
- Based Cloud ERP Solution
- Prices per ressources
- Adapted for Mid-Market Businesses
- +30 apps availables on Cegid Marketplace
The different types of businesses in this industry sector
Let's explore the different players in the cannabis industry:
Producers and Cultivators
These businesses are responsible for growing and producing cannabis. They may cultivate cannabis for medical, recreational, or industrial purposes such as producing fibers and construction materials from hemp.
Derivative Product Manufacturers
These businesses process cannabis into a variety of derivative products such as oils, concentrates, edibles, topicals, and tinctures. They may also develop specific formulations to meet the medical or recreational needs of consumers.
Dispensaries and Retail Stores
These businesses sell cannabis products directly to consumers. They may offer a variety of products, including cannabis flowers, concentrates, edibles, accessories, and other related products. Some dispensaries specialize in medical cannabis, while others serve the recreational market.
Research and Development Companies
These businesses focus on researching and developing new cannabis varieties, innovative cultivation methods, product formulations, and technologies for the cannabis industry. They may also conduct studies on the effects of cannabis on human health and its therapeutic potential.
Captivea, your ERP integrator to guide you
Launch your project with us now !
Choosing the right partner for implementing your ERP in the cannabis industry is essential to ensure the success of your business. With Captivea, you have a trusted partner who understands the unique challenges of your sector and is committed to providing you with a tailored solution to meet your specific needs.
As an experienced ERP integrator, we accompany you every step of the way, from selecting the right ERP system to adapting and customizing the solution to meet the specific requirements of your business in the cannabis industry. Our team of experts is here to guide you through every phase of implementation, ensuring that your ERP is perfectly aligned with your business and regulatory goals.
Faq For ERP in Cannabis industry
A cannabis ERP is an enterprise resource planning solution tailored specifically for the cannabis industry. It integrates various business operations such as inventory management, financial data, and seed to sale tracking to ensure compliance and streamline processes.
A cannabis ERP is crucial for maintaining compliance with regulations, ensuring real time inventory tracking, and managing the entire production process. It helps cannabis businesses reduce manual processes, achieve complete visibility, and improve efficiency across the entire business.
Seed to sale tracking is a key feature of cannabis ERP software. It provides real time data on the movement of raw materials and finished goods, ensuring compliance with regulatory requirements and giving businesses the ability to track every step from cultivation to sales.
Using cannabis ERP software offers numerous benefits, including streamlined business operations, reduced bad data, and improved real time reporting. It also helps in reducing costs, managing purchase orders and sales orders, and ensuring maintaining compliance with regulatory standards.
A cannabis ERP system offers advanced inventory management capabilities, allowing businesses to manage inventory in real-time. This includes tracking raw materials, monitoring finished products, and ensuring accurate data entry.
Key features to look for in a cannabis ERP include seed to sale software, track and trace systems, financial data integration, customer support team access, and a user friendly interface. Additionally, look for erp solutions that offer one platform to manage all business operations.
A cannabis ERP supports business growth by providing tools to track performance, analyze real time data, and streamline business processes. It helps businesses scale operations, expand into multiple states, and improve overall efficiency.
Yes, a cannabis ERP helps with financial management by integrating finance modules, enabling double entry accounting, and ensuring accurate financial data reporting. This helps in managing costs and improving the overall financial health of the business.
ERP systems seamlessly integrate with existing POS systems, payment gateways, and other operational tools using IoT and modern applications. This integration streamlines operations, improves data accuracy, and enhances operational efficiency across the establishment.
Cannabis companies should consider using a cannabis ERP to streamline their business operations, reduce manual processes, and ensure compliance. It helps in managing the entire business, from seed to sale, and provides valuable insights for decision-making.