Dispensary: Inventory Management Plan DIY Guide

Purpose

The Inventory Management Plan lays out the company's policies and procedures for handling and tracking inventory within the dispensary.

Use Cases

Operators can use this plan to train their employees on inventory control procedures and to keep an internal record of inventory control and management policies.

License applicants can use this plan for the inventory control section or exhibit of the license application.

License applicants may add this plan in whole or in pieces to the security plan, the record keeping plan or the operations plan as deemed valuable or necessary.

Keywords

Search for each of these terms in the regulations. You're looking for pieces of each regulation that pertain to regulations pertaining to possession, sales limits, and any required educational materials for customers. Refer to the General Sheet Editing DIY Guide for guidance on what to do with these key words.

Inventory
Inventory control
Tracking
Tracing
Diversion
Inversion
Point of sale
Tracking system
Verification system
Record keeping
Any other words you can think of that pertain to inventory management

Replace All

Search for each of the bolded terms in the Inventory Management Plan sheet, including the brackets. Do a "replace all" and insert the pertinent information needed to replace the term. The description underneath each bolded term below tells you what information should replace the bolded term. For instance, you would use the search feature in your document editing software to look for [Company *1] and then using the replace all feature, replace [Company *1] with your company name.

[Company *1]

Replace with the name of the company.

[Regulatory Authority *1]

Replace with the name of the State cannabis regulatory authority (usually a department name or a board name).

[State Regulation *1]

Replace with the title of the primary state cannabis regulation.

[Point of Sale *1]

Replace with the name of the Point-of-Sale System (POS) that is used or will be used by the dispensary.

[Compliance Director *1]

Replace with the role title of the key employee who will be in charge of compliance (ex: Compliance Director, Director of Compliance, Chief of Compliance, Chief Compliance Officer)

[Required Age *1]

Replace with the required age for medical marijuana patients

[Required Age *2]

Replace [Required Age *2] with required age for adult use marijuana. If your state does not yet have adult use cannabis, delete the sentence where it appears throughout the sheet "and [Required Age *2] for adult use marijuana]"

Suggested Customizations

We suggest that you read through the sheet and make any additional edits or additions that you see fit. Here are some suggestions to get you started. The following sections are included in the plan and are written in green bold letters.

Check your state regulations. If your state requires you to maintain electronic records for more than 5 years, insert the correct number in place of this:
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5 years
‍

Your state may also have a specific limit on days that waste can be stored at the facility. If your state specifies a requirement that differ from 7 days then then replace "7" with the number of days allowed.
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7 days

Your state may have a specific number of years that inventory records must be retained. If so, place that number of years here, in the place of "2 years."
‍

2 years

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.
‍

The point-of-sale system selected by [Company *1] is real-time, web-based and accessible by the Department at any time. …..
‍

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.
‍

the state verification system in real time. The dispensary will have an established account with the State's verification system that documents ……..

Your state may require a different number of years of inventory record keeping. If so, insert that number of years in place of this:
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no less than two years.

Your state may have specific wording required to be placed on quarantined product. Your state may also have a specific limit on days that waste can be stored at the facility. If your state specifies requirements that differ from the information in this paragraph, edit the paragraph to follow the regulations of your state.
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All marijuana and marijuana products awaiting destruction and disposal will be stored in a secured and locked container which is labeled with the date of quarantine, and the term “QUARANTINE: DO NOT DISTRIBUTE.” Products awaiting destruction will be stored by the dispensary for no longer than 7 days.

Your state may have its own specific requirements for rendering marijuana waste unusable prior to disposal. If so, insert that information here in place of the existing information.
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i. When the dispensary renders marijuana unusable: unless another method approved by the Department is used, waste containing marijuana must be rendered unusable by grinding and incorporating the waste with:
a. For disposal as compost or using another organic method, the following kinds of compostable mixed waste: ….
b. For disposal in a landfill or other method not described in paragraph (a), the following kinds of non-compostable mixed waste: ….

This is only pertinent if your state uses a state level tracking system. If your state does not have a state level tracking system, then delete this piece of the sentence ("and that information will be shared with the State Tracking System")
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and that information will be shared with the State Tracking System
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Your state may require that certain departments be notified when marijuana is disposed. If so, insert the names of those departments here, otherwise leave the statement as is.
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appropriate authorities

Rename

When you save the document, if using it for an application, make sure to title the document in the specific way that the application requires. If not using for an application, keep the document title as is, or change it to whatever you desire.

Sheets

Facts

States

Guides

Dispensary: Inventory Management Plan DIY Guide

Purpose

Use Cases

Keywords

Replace All

[Company *1]

[Regulatory Authority *1]

[State Regulation *1]

[Point of Sale *1]

[Compliance Director *1]

[Required Age *1]

[Required Age *2]

Suggested Customizations

Check your state regulations. If your state requires you to maintain electronic records for more than 5 years, insert the correct number in place of this:
‍

Your state may also have a specific limit on days that waste can be stored at the facility. If your state specifies a requirement that differ from 7 days then then replace "7" with the number of days allowed.
‍

Your state may have a specific number of years that inventory records must be retained. If so, place that number of years here, in the place of "2 years."
‍

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.
‍

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.
‍

Your state may require a different number of years of inventory record keeping. If so, insert that number of years in place of this:
‍

Your state may have its own specific requirements for rendering marijuana waste unusable prior to disposal. If so, insert that information here in place of the existing information.
‍

This is only pertinent if your state uses a state level tracking system. If your state does not have a state level tracking system, then delete this piece of the sentence ("and that information will be shared with the State Tracking System")
‍

Your state may require that certain departments be notified when marijuana is disposed. If so, insert the names of those departments here, otherwise leave the statement as is.
‍

Rename

Sheets

Facts

States

Guides

Dispensary: Inventory Management Plan DIY Guide

Purpose

Use Cases

Keywords

Replace All

[Company *1]

[Regulatory Authority *1]

[State Regulation *1]

[Point of Sale *1]

[Compliance Director *1]

[Required Age *1]

[Required Age *2]

Suggested Customizations

Check your state regulations. If your state requires you to maintain electronic records for more than 5 years, insert the correct number in place of this:‍

Your state may also have a specific limit on days that waste can be stored at the facility. If your state specifies a requirement that differ from 7 days then then replace "7" with the number of days allowed.‍

Your state may have a specific number of years that inventory records must be retained. If so, place that number of years here, in the place of "2 years."‍

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.‍

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.‍

Your state may require a different number of years of inventory record keeping. If so, insert that number of years in place of this:‍

Your state may have its own specific requirements for rendering marijuana waste unusable prior to disposal. If so, insert that information here in place of the existing information.‍

This is only pertinent if your state uses a state level tracking system. If your state does not have a state level tracking system, then delete this piece of the sentence ("and that information will be shared with the State Tracking System")‍

Your state may require that certain departments be notified when marijuana is disposed. If so, insert the names of those departments here, otherwise leave the statement as is.‍

Rename

Check your state regulations. If your state requires you to maintain electronic records for more than 5 years, insert the correct number in place of this:
‍

Your state may also have a specific limit on days that waste can be stored at the facility. If your state specifies a requirement that differ from 7 days then then replace "7" with the number of days allowed.
‍

Your state may have a specific number of years that inventory records must be retained. If so, place that number of years here, in the place of "2 years."
‍

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.
‍

This is only relevant if your state has a state level tracking system. If not, delete this paragraph.
‍

Your state may require a different number of years of inventory record keeping. If so, insert that number of years in place of this:
‍

Your state may have its own specific requirements for rendering marijuana waste unusable prior to disposal. If so, insert that information here in place of the existing information.
‍

This is only pertinent if your state uses a state level tracking system. If your state does not have a state level tracking system, then delete this piece of the sentence ("and that information will be shared with the State Tracking System")
‍

Your state may require that certain departments be notified when marijuana is disposed. If so, insert the names of those departments here, otherwise leave the statement as is.
‍