As your next generation data analytics management partner, Meristematix can provide your business with PREDICTIVE and PRESCRIPTIVE level output. These outputs can provide your management with tools that can accurately predict future demand based on past trends, and then provide suggestions ranging from pricing to supply-chain optimization. Join us for a deep dive into the platform and how it works.
Video Transcription
Harry Brelsford
Hey 420 MSP. I’m with Kathryn from Meristematix. Did I get the name right this time?
Kathryn Cram
Yes, yes, you did.
Harry Brelsford
All right, well, hey, let’s just jump right into it, we we kind of have a sort of a eight to 10 minute window if you’d like to understand what you’re doing with your solution in the cannabis technology area, so I’ll turn it over to you
Kathryn Cram
All right, I’m gonna go ahead and share my screen and we can kind of take a look at, I’m going to hop right into what makes us any different from any of the other solutions that are out there? And really, why do you want to look at things and what you’re looking at? Let’s see. Let me just say, there we go. Okay. So I’m going to share my screen, we will go.
Harry Brelsford
And I’ll let you know when I see it. All right. All right.
Kathryn Cram
Okay, there we are. Yeah, so one of the big things that makes a difference, and kind of something that the other systems just aren’t really able to keep up with is all the things that we are accounting for. Simultaneously, we call them controls. But the big thing to note when we’re looking at them isn’t that it’s doing one and then the other. And then the other, you know, as we as humans tend to look at, it’s actually our ability to simultaneously look at them, one, one after the other and at the same time. So some of these may not seem like they would really apply with the cannabis industry, but it’s surprisingly really, really does. So we look at De store item information when we’re looking at all of this. So daily store level temperatures, precipitation, you may not think you know, we’re all inside, but where you’re the outside feels like and where you’re at inside. And today’s a gloomy day in Oregon is a good example of promotion and ad programs. Those are something that we intuitively know make a difference in your sales. But how much difference do they make? How do we know the effectiveness of the ads. So it really the system being able to account for that we can get anywhere from a 50 to a 400% lift on any particular item, depending on that promotion. But it’s one of the one of the biggest pricing discounts the difference, obviously, between an ad promotion and just a straight discount clearance or just trying to move it out of your store. freshness, how fresh is that product in the store, Bloom score bud score, whatever your your rating some of your product by breadth of offering. And again, these are kind of buckets. So there’s when we talk, we’re looking at all these controls, there’s actually 30,000 different controls behind the scenes that we’re accounting for these kind of fall into some of your buckets, breadth of offering, what else is on the shelf? What me as a consumer, what else? Am I looking at? comparable price, comparable quality? So how do we know again, when we’re actually working there at the store what to what to call for. And then this bucket employment income housing, it even goes down to age of the consumer, male female payday stock market, how’s the market level of education? It’s pretty it’s kind of crazy, like when we think about it, because as users as an analyst, we make quite a few assumptions. We make correlations between sales and income of the area, or sales and pricing of the product, but really having something and this algorithm does that of really how many units I’m going to sell more or less of because of that. It really does make a huge difference.
Harry Brelsford
Um, yeah, analytics, smorgasbord.
Kathryn Cram
Yeah, it kind of is. We’re kind of data nerds. And we like it, it dives into what we’re what we’re going to be offering. And when we talk about, like what these ads are, and promotions and programs, it really goes into the detail of the different types. So it’s not just a general bucket of ads, we’re talking if it’s maybe a loyalty program that they got sent a message for, or print or website, they all make a difference. So when we say they make a difference, where does the user actually see that? So they actually have the ability to come in a portal. And can you guys see the tool now? Yep. Great. So I’m hopped right over to what we have is our replenishment tab. We do have obviously report dashboard and analysis but really all those controls that we talked about really what make us any different is all boils down into actually being able as the user of this tool coming in and saying Kay this store this item, I’m calling for 140 This one I’m calling for 96. We have the ability Well, the user has the ability to come in and say, Alright, I normally place my orders, I just placed one I’m going to do in next week Friday, or I’m actually going to place this in two days. And the system is looking at all those different controls, and saying what is going to happen for what is currently on hand right now. And what we refer to as burn down what is going to burn down between when I actually placed my order, and when it gets to the store. So when it gets to my shelf, and I can actually offer that, oh, it’s it really allows it boils down all the complexities all the things that we account for down into what number do I need to be ordering from my suppliers, whether it be the containers, whether it be the actual physical product, it allows you to really get detailed in there. As users, all of us look at it slightly differently. So you can kind of see over here to the right, there’s various columns that you can add and remove the buttons, you can boil it down to really straightforward and just look at the just the quantity that we’re asking to order. So and you can various, if you have multiple locations, multiple retailers, if there’s chains as an example, or this could even be like state or county or you know, kind of whatever breaks it down for the different user or item again. And then this all ties into once I have my daily orders, and I’m comfortable with K meristematic system is telling me I need to be ordering this amount. And it’s kind of surprising people go I’ve always sold this. Okay, well have you not sold the comparative item because you haven’t had it. Our system really dives into the difference between no one wanted it and it wasn’t available to sell. So the other piece of this that ties into is actually being able to look at a long term forecast. So the system actually allows you to also take into account over the weeks and you can break this down by item, we can break this down by week by store all the same ones that you could do an order by, but to give you the long term picture, if you’re planning, planning for promotions. If you know that supplier inventory is going to be running low, or your or your supplier has said, Hey, I only have this for a limited amount of time, really being able to tie the two in your daily orders. And then your long term planning makes an absolute huge difference in sell through giving ROI inventory levels, all those different components. So it’s all interactive as web based tool, being able to deep dive in if I want to just look at specifics. And we can see up here specific weeks are collected and you can hover over and things like that quick and dirty looking at real short version. But I think as humans and as people analysts, we assume we can make those correlations. But you and I would make different correlations, looking at the same set of data. So having a system that really can dive into what is happening at the store item level and what is going to be happening, I think it’s just a game changer as far as being able to plan and really drive your business.
Harry Brelsford
And come at me maybe about the your customer persona. So who uses this tool?
Kathryn Cram
Yeah, so we we come to this actually from looking at your big box retailers, we do all of the forecasting or multibillion dollar retailers, live goods. So this is actually originated in plants and live good plant. So perishable product, which I think is really, really key because a lot of systems, some of the, you know, his other industries are making their way into the cannabis industry. A lot of them are coming from this global presence, right. But oh, two by four, or a part a metal part. Very, it’s extremely different from a perishable product. I mean, it’s not even in the same realm. So we this was actually developed them alive goods, the nursery industry holder, horticulture industry for the big box retailers, and is used by both the retailers, suppliers, and distributors of that product. So we do about 1.8 billion retail dollars a day through the system. And that’s around 900 daily users. So
Harry Brelsford
Wow. Well, I’mI’m blown away. I even did an analytics startup in Seattle a number of years ago. So I am, you know, hanging on by my my fingernails to keep up with you. But I kind of get it. I get it, and what continued success. And thanks for sharing your product with us.
Kathryn Cram
Appreciate you giving us time. It’s great to be here.
Harry Brelsford
All right. All right. We’ll see you at the next big industry shelves.
Kathryn Cram
All right, thanks so much.
Harry Brelsford
All right. Bye bye.
