April 23, 2021
Just like other licensed cannabis companies, manufacturers have to stay prepared for the multiple challenges this highly regulated market keeps throwing at them. The main two remain Metrc-compliant business practices and operational efficiency. Luckily, software vendors are equipping cannabis companies with technologies to address these two pain points. We at Greenventory by HandiFox are making our first steps in lending a helping hand to manufacturers by upgrading our software with new production capabilities.
Manufacturing in Greenventory
Presets are the customizable, pre-saved recipes of finished cannabis products that are used to reduce the time spent on adding ingredients to a manufacturing order and calculating quantities manually.
Greenventory allows you to create a preset with one or multiple output products or by-products emerging as a result of extraction, production, or packaging.
Start building out a new assembly by creating a manufacturing order. The latter could be based on an existing preset or generated from scratch.
Choose the site (location) where you are producing an item, and start/end date. After that, put the quantity to produce - the ingredients will multiply according to the selected preset. At this stage, you can also unlink the preset to change component items.
Greenventory predicts package usage based on the available quantities and gives you the exact estimation of how many final products you can build with what you have on hand.
If you click on the “i” icon to the left of the allocated quantity, you’ll get insights into the quantity on hand breakdown. As soon as a manufacturing order is saved, the Reserved for Manufacturing and Expecting from Manufacturing quantities change in lockstep. Packages get reserved right after a manufacturing order is created to eliminate the double-booking situation and allow you to plan inventory usage better.
If the non-cannabis items you are adding to a Manufacturing Order are lot- or expiration date tracked, click on to the left of the product name and enter the lots to be used in the current production process. The lot traceability is essential to streamlining recalls, that is why you might want to take advantage of the opportunity to make referencing and record keeping transparent and easy.
You can save the progress and come back to this order later or go ahead and click on Start manufacturing. The system assigns “Not started”, “In progress” and “Completed” statuses to manufacturing orders to reflect the progress. You can adjust the quantities of ingredients at any time based on what takes place in real life.
Inventory management, manufacturing, QuickBooks Online, and Metrc
The cornerstone that unites all of them, Greenventory ensures:
● Compliant production processes synchronized with Metrc
● Tracking and moving source materials and finished goods across facilities
● Accountability for raw material usage and conversion via the history of manufacturing orders
● Inventory, purchasing, and sales data gets synced back to QuickBooks Online
The integrated approach to compliance, inventory management, production, and finances keeps you many steps ahead of problems and crises. Get a free demo or take a trial of Greenventory by HandiFox now for a deeper dive into its capabilities.