Our customers continue to find new ways to leverage Appature, our analytics software platform that takes the guesswork out of managing the operations of the cannabis industry by surfacing critical insights that can increase ROI. Using Appature, a customer turned potential product expiration into profit, finding forgotten inventory and selling several packages of edibles before they expired.
Here’s how they did it:
The Director of Operations at a large cultivation and processing operation opened Appature prior to their morning walk of the facility. One of the reports they checked was the Inventory Aging Report. Like traditional aging reports, it shows the age of all packages associated with their licenses.
Drilling down on the data, they focused on the 180+ day packages, broken out by category. They then clicked into the “infused edible” category, to view all packages 180+ days old. Immediately they noticed there was 1 package of infused edibles in the warehouse that they didn’t expect to see.
Appature provided the exact package tag number and they were able to finally locate it where it had fallen behind a shelf. The package contained 205 gummy packs that are were close to expiration. They had to move that product or risk having to destroy it.
They were able to sell the product quickly to a dispensary at a reduced price, salvaging the loss of revenue. As a result, they completed an audit of all product packages and put processes in place to flag packages as they age to avoid the issue from occurring again in the future.
Preventing just this one instance of inventory loss paid for almost a year of their Appature subscription. Without Appature, this product would have expired and been destroyed when it was eventually found.
If you’re just getting started, trying to scale your business, or getting things back on track, Appature gives you the information you need to make better, data-driven decisions. Starting at $99/month, it easily pays for itself. Visit us at appature.io or schedule a demo today!