Nevis Brand (Major)
Case Study
In the dynamic and competitive cannabis market, staying ahead of the curve requires leveraging advanced data analytics to make informed decisions. This case study highlights how 240 Logistics partnered with Major, a notable cannabis beverage company, to optimize their inventory and production using the FlyWheel platform. By identifying initial challenges, implementing data-driven solutions, and achieving significant results, we demonstrate the profound impact of utilizing FlyWheel data in the cannabis industry.
The Problem
When Major decided to introduce their suite of five flavors to the Oregon market, they faced several challenges:
Market Penetration: Gaining shelf space at top retailers in a new market.
Inventory Management: Ensuring optimal inventory levels to meet consumer demand without overproduction.
Product Performance: Understanding which flavors would resonate best with Oregon consumers.
To address these challenges, 240 Logistics integrated the FlyWheel platform into Major’s operations. FlyWheel provides deep insights into the movement of products, identifying slow and fast-moving items to optimize inventory strategy. As we monitored the platform, we discovered a critical insight: one of the five flavors was selling significantly slower than the others.
The Solution
Armed with this valuable data, the 240 Logistics team proposed a strategic adjustment to our partner:
Remove Slow-Moving Product: We recommended discontinuing the production of the slowest-moving flavor.
Increase Production of Fast-Moving Flavor: By reallocating production costs and time to the fastest-moving flavor, we could better meet consumer demand and maximize sales.
Implementation
& Results
The decision to optimize inventory and production based on FlyWheel data led to remarkable results:
Cost Efficiency: By halting the production of the underperforming flavor, we freed up valuable resources that were redirected to produce more of the popular flavor.
Sales Growth: The increased availability of the fast-moving flavor resulted in higher sales, as it better aligned with consumer preferences.
Streamlined Operations: The adjustment led to a more efficient production process, reducing waste and improving overall operational efficiency.
“By integrating FlyWheel’s advanced data analytics, Major was able to make informed, strategic decisions that not only optimized our inventory and production but also significantly increased sales and operational efficiency. Our partnership with 240 Logistics exemplifies the transformative power of data-driven insights in navigating market challenges and achieving sustainable growth in the competitive cannabis industry.”
This case study underscores the importance of utilizing advanced data analytics in the cannabis industry. The FlyWheel platform enabled Major to make informed, strategic decisions that optimized their inventory and production, leading to increased sales and operational efficiency. As the cannabis market continues to evolve, leveraging data-driven insights will be crucial for companies seeking to stay competitive and meet consumer demand effectively.
By partnering with 240 Logistics and utilizing FlyWheel data, cannabis businesses can navigate market challenges, optimize their operations, and achieve sustainable growth. If you’re ready to take your cannabis business to the next level, contact us today to learn how we can help you harness the power of data for your success.
Learn More.
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