Hey guys, I think there may be something wrong with the inventory tracking. My dashboard tells me that I’ve made a few grams in sales but I’m seeing much more of that product missing? Could you check the system to confirm this.
We validated his inventory levels and replied back in 10 minutes:
We’ve done some looking into your issue. There doesn’t seem to be any errors in the accounting. This may be a user input error. Could you check with your employees? The reporting section will tell you who was working the tills today at what time.
This is an example of a POS that tracks and displays inventory in an easy to access format. The system alerted the user to an inventory discrepancy. And so, this prompted the owner to investigate further.
He checked the event logs and matched it with his security camera footage. From that footage he saw an employee slip cannabis into their pockets during every transaction. The offending employee was promptly fired.
The budtender that was caught had stolen $50 worth of product that day. If left unnoticed, that employee would have stolen over $1,500 of product that month.
How dispensaries can identify and catch theft with tech.
1. There needs to be a regular schedule of auditing product stock for inconsistencies. This ensures that you notice any out of place stock changes and catch theft. Your POS needs to track inventory in your store accurately for this to work. Stock needs to be be up to date by the second. Your system should recognize and account for change whenever a transfer or sale is made.
2. Multi-location dispensary chains will need to adopt a pre-packaged RFID/bar coding system. This ensures inventory accuracy across all locations of organization. Selling pre-packages units instead of weighing per gram makes the most sense. Furthermore, tracing multi-location product movements is far easier with packaged units instead of decimal weights.
3. The best dispensaries are automating their processes. Bar coding and RFIDs leave no room for human error and internal theft at the counter. One scan equals one item in cart, no exceptions. Having automatic inventory stock checks and updates is the new cannabis industry standard. Dispensary owners and managers should never have to manually update stock for any product movement. There are far better uses for your time.