Cannabis retailers can now access advanced analytics and real-time reporting on inventory levels, product sales and employee performance
Headset, the leading provider of data and analytics to the cannabis industry, announced the launch of its Inventory Management and Employee Management modules for Retailer Premium. These dashboards provide Retailer Premium users with access to real-time, industry-leading data that helps executives, marketing, operations and inventory teams make better-informed decisions, generate additional revenue and save costs across staffing and inventory.
The Inventory Management module is designed to help retailers optimize their current inventory at the SKU level using the ABC-XYZ inventory analysis framework. Users can group SKUs together based on performance metrics and derive actionable product level insights regarding SKU sales performance and current inventory levels. The Overview dashboard provides insight into inventory performance across a single store or a group of stores. Developed for highly-engaged retail and inventory managers, the Comparison dashboard analyzes the performance of brands and vendors stocked in a given category to the performance of those in another category, while the Product Details dashboard offers SKU level details.
Built to help retailers properly schedule and manage staff, dashboards in the Employee Management module enable staffing managers to create more efficient employee schedules, review team and individual employee sales performance as well as determine if an employee is utilizing discounts appropriately.
“Many cannabis retailers lack the framework and data necessary to accurately assess SKU performance and optimize staffing schedules to drive sales and reduce costs,” said Cy Scott, Founder and CEO of Headset. “We’re thrilled to provide our Retailer Premium users with real-time data and analytics on inventory and employees that will enable them to make more informed decisions and increase operational efficiencies. As new markets come online and competition increases in the space, retailers will need access to detailed insights like those provided in Retailer Premium to maintain their success and market leadership.”
Retailer Premium is powered through point-of-sale integrations, leveraging customer loyalty programs and transaction data to build insights and provide cannabis retailers with real-time analytics on their business.
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