Pricing groups can seem daunting, but can ease the stress of transactions.
On most POS systems being used at dispensaries, the option for pricing groups is available. It can seem like a daunting task to set-up this feature, but the benefits for speed and ease of transactions is worth the time invested. The following is a general outline for establishing which weights or products could benefit most from this feature. The process for setup will vary depending on the system, but the general idea is you establish pricing weights, and outline the pricing for groups of items of varying sizes. When multiple transactions for a group of a similar product occurs, all items from that group are charged together as a weight for a specific price. Using a pricing group for other uses can be an excellent benefit for condensing an inventory to organize your products better, or as a workaround, if you need a specific product to show up on a specialized report.
Save Budtenders and Customers Time
The best use of pricing groups is to establish your cannabis flower sale weights. This can be done for either deli-style or pre-packaged cannabis depending on your dispensary. The idea being that if you have multiple eighths of a similar pricing group, you can ring up eight different packages for that group to get the single ounce price. It can be done without creating new coupons or multiple SKUs; you can save time and effort for budtenders by doing so. It can also be used to group flower shelf tiers, so a sale on all value shelf flower is no hassle to the mid and top shelves with a set pricing group. It will be a matter of editing pricing for the groups you create, and how they are used to categorize the shelves. Breaking these down to specific categories will be necessary when you create the specific groups along with clear pricing differences.
Leveraging Special Sale Costs
Another way to utilize pricing groups is to provide a special sale cost for a set amount of one product. An example could be one-gram pre-rolls, a sale of five for forty dollars. In the pricing weight group, set a pre-roll category weight for five grams. Then create a pre-roll group for five one-gram pre-rolls, and set a price for forty dollars. When a budtender goes to ring out five one-gram pre-rolls, it will group the pre-rolls together based on the weight to give the forty-dollar price break. This technique works best with products that have a long-term special running versus a situation in which a coupon could be used temporarily. It can also be applied to create an auto price on smaller weight increments to equal a larger weight for the target price. If the dispensary is out of one-gram pre-rolls but is going to offer two half grams for the same price, a pricing group can make these transactions easier by editing some details.
Better Inventory Management
When utilizing pricing groups, you can use the ability to set weights per group of products to organize your inventory better. I will do this with syrups; if I have multiple flavors, I can use naming conventions to organize by brand and flavor. In each flavor, I create a pricing group for each size, 150mg, 300mg, 600mg for example. When the inventory is processed for intake, the products are organized by brand, then flavor then sizes of each pricing group within the product category. The result is a better-organized inventory, and the expanded view will include the amount of each size in that flavor. The accuracy of your inventory for an audit or adjustments will be far better using this technique of grouping the product. By doing this with certain products you can affect reporting, and by checking all major reports, you can see if the impact needs to be corrected. I have found this method easier for inventory reports but it can make financial and KPI (key performance indicators) reporting more difficult. By experimenting, you can discover how your reports and inventory is affected by changes in pricing groups. Working to learn your POS, and the available functions to create a system that is functionally strong as well as streamlined.
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