Platform to Improve How Retailers Manage Inventory and Maximize Cash Flow
CHICAGO, Jan. 23, 2024 /PRNewswire/ — 240 Logistics (240L) has launched a groundbreaking technology solution for cannabis retailers that will synchronize the supply chain from seed to sale using data to streamline inventory management, improve sell-through rates, and optimize auto-replenishment. FlyWheel™ uses real-time insights to help retailers make informed decisions, improve cash flow, reduce the 280e tax burden, and mitigate the risk of slow-moving stock tying up valuable resources, all while integrating with state-specific compliance systems.
As cannabis legalization expands across the U.S. and rescheduling discussions heat up, 240L is aggressively rolling out the platform to help brands position themselves in the growing market.The technology is currently available in California, Colorado, Nevada, New Jersey, Massachusetts, Mississippi, Michigan, Minnesota and Oregon.
“FlyWheel operates in real time using data from retailers, brands, and cultivators to increase the efficiency of their inventory and cash management to protect and strengthen the cannabis supply chain,” according to Tim Schmitt, Chief Technology Officer at 240L. “Through seamless API integrations with Metrc Connect (v2) and POS systems, such as Dutchie and Treez, FlyWheel monitors everything across the inventory spectrum to ensure the retailer is stocking the right products on the right shelves at the right time, and most importantly, maximizing profitability..”
With FlyWheel’s user-friendly proprietary technology, retailers receive store-specific data and tools to make informed decisions, optimize operations, increase profits, and minimize risks. Additionally, stores can avail themselves of expert sales and account management teams that use data-driven insights to offer vendor-managed inventory programs. Retailers retain full control over orders and have the ability to change, reject, or return orders as distributor policies allow.
“By keeping just enough stock on hand, Flywheel helps retailers free up their cash flow and concentrate on the products that truly resonate with customers,” said Jackie Cahan, Chief Financial Officer and Managing Partner of 240L Holdings. “This means they can focus on what sells best, making their business more agile, profitable, and better equipped to meet customer demand. It’s a win-win for retailers and for consumers who want access to their favorite brands.”
About 240L
240L, under 240L Holdings, is a team of seasoned logistics, supply chain, and technology professionals focused on bringing Fortune 500 capability and execution to the cannabis supply chain. At 240L, our mission is to revolutionize the cannabis industry by providing a best-in-class technology stack that optimizes the supply chain from seed to sale. Our goal is to make the process of cultivating, distributing and selling cannabis more efficient, cost-effective, and sustainable while maximizing cash flow and ensuring compliance with all regulations and industry standards. For more information regarding 240L, 240L Holdings, or FlyWheel, please visit https://www.240logistics.com/.
Press contact:
Beth Graham
KMA Cannabis
904-214-6769
371714@email4pr.com
SOURCE 240L
