Missouri Cannabis is Booming! Here's How LeafLink Helps Brands Keep Up with Soaring Demand.Community • April 19, 2023
LeafLink helps bring technology to the cannabis supply chain, helping Missouri brands boost their productivity, reduce costs, and meet customer demand in a timely and efficient manner.
If you've been sleeping on Midwest cannabis, it's time to stop hitting the snooze button. The Midwest is rapidly showing its pot prowess. Take Missouri as the latest example. After generating over $100 million in sales in February, its first month of adult-use sales, Missouri is on track to be the fastest state to reach $1 billion in cannabis sales.
On the plus side, consumers are demanding cannabis. The downside is that market desire continues to outstrip supply. Keeping shelves stocked with favorites is essential, but it isn't that easy right now. The brands unable to keep up with increased demand miss out on sales opportunities and revenue. The impact on company operations, consumer reputation, and the bottom line is often significant.
Creating market-leading products is always a top priority. At the same time, other emphases are critical to a growing business. Today, identifying and improving on areas of inefficiency has never been more essential to the success of your business. Instead of adding more to your team's deck, turn to a B2B commerce leader like LeafLink. Run your business from one central hub. Track your inventory levels in real-time, streamline ordering and delivery, and speed up your accounts receivable using a single system.
Read on to discover how LeafLink helps cannabis operators in Missouri and across the country keep up with soaring consumer demand.
Optimize Supply Chain Processes
Companies must stay on top of inventory as best they can. Manufacturers who can't keep up with demand often struggle. Keeping up gets much more difficult without an efficient inventory management system. This predicament can lead to critical stockouts, missed sales opportunities, and lost revenue.
Missouri currently faces a hurdle many new markets have encountered: limited stock. Lead times are often unknown when inventory is scarce. Retailers must ensure they have the products customers demand and the lead time to address any uncertain delivery times. If they fail to resupply ahead of time, they run into increased chances that sales shelves could be without top brands for some time.
That doesn't have to happen. With LeafLink, companies can:
- Automatically reserve inventory quantities for future sales orders.
- Stock up, avoid inventory errors, and ensure that quantities are allocated to specific buyers in advance using reservation features.
- Grant special first access privileges to high-value customers, giving them first dibs on exclusive or high-demand inventory.
- Control the flow of goods to franchise locations, managing inventory allocation at the point of purchase.
Get Products to Retailers Faster
A growing market means increased orders. This means operations need to be ship shape or risk running into many headaches, hurdles and financial heartbreak. LeafLink helps avoid the worst-case scenarios with relative ease, by offering same-day delivery in Missouri.
Connect with our Order Management tool to immediately follow your order as it moves through the supply chain. You see the entire order lifecycle in real-time from ordering to pickup to delivery. Need to place an order? How about tracking a shipment? See and manage it all, every step of the way in LeafLink's market-leading Shipping Dashboard.
With significant tasks like scheduling off your plate, your company can focus on what it wants to, like creating market-leading cannabis products.
Speed Up Your Time-to-Cash
Again, the product is always top priority. But to survive and ultimately scale, a company must also focus on sales. Sales stress alone can push a company to its limits. Add to the fact that some customer payments may be late, eating into your operational funds. In Missouri, this concern only grows as nascent companies are particularly vulnerable to any bottom-line setbacks.
Manufacturers can face significant pay delays after products get delivered. Without the expected funds, your company's production capacity and cash flow become impacted. In worst-case scenarios, late payments and the ripple effect can play a large part in why some companies go out of business. Even if your business doesn't close, the additional tasks will spread team bandwidth thinner. To get the payment, you'll need to conduct extra AR legwork or work with collections to resolve the matter. Where do you find the time, much less the funds?
Never wait for payments before starting your next batch of production. LeafLink provides an outsourced, expert solution so you can remain focused on your products, via LeafLink Payments. Give your customers more buying power by offering net terms directly on the platform. Then, allow us to work with each buyer to handle payments. Speaking of payments, your funds due are guaranteed. Get paid when deliveries are confirmed, not when the retailer pays up. We'll take on the risk for you.
Save On Labor Costs
Fulfillment costs quickly add up. Managing truck fleets and planning routes takes countless hours and dollars to achieve. Asking too much of your team may see them working too many hours, putting a strain on employees and leading to burnout, absenteeism, and high turnover rates. Any of those outcomes can further exacerbate production bottlenecks and diminish quality control.
With LeafLink, our experienced logistics team helps you optimize time, cost, and speed. Allow us to provide fast, precise shipping services so you don't have to. Take the stress off your team and your bottom line.
Scale At Your Pace
Missouri is booming. To grow along with it, companies need to scale at a pace that works for their brand and team bandwidth.
Growing businesses want to be able to scale and invest when the time is right. But simultaneously managing the two can be overwhelming for any team. It's imperative that you reduce the time and effort required to fulfill orders. But how can it be efficiently handled with so many other top priorities?
You turn to a partner for help. A B2B commerce platform like LeafLink makes daunting tasks manageable. Streamline operations so you can keep the focus on other critical areas, like customer acquisition, building your brand and product assortment growth.
Working with LeafLink helps keep operational costs down. Rather than hire more internal ops as you grow, LeafLink grows with you as you scale. We're here every step of the way, finding process improvements to boost efficiency, productivity and output whenever needed.
Show-Me The Results
The Show-Me State's recreational cannabis market is off to a great start. By leveraging LeafLink's solutions, Missouri brands can keep up with demand, improve their operations, and get products to their customers faster.
Find out for yourself. Schedule a consultation with LeafLink's logistics experts to unlock your full growth potential.