It’s fair to say that all retail businesses have some degree of theft that takes place under its roof, but dealing with internal fraud at your cannabis dispensary can become a serious problem if certain precautions aren’t in place. Since the marijuana industry is cash-based and the product is relatively easy to pocket, shop owners have to be diligent about checks and balances to both detect and prevent fraud.
There are unfortunately a lot of ways in which internal fraud at your cannabis dispensary can occur, but here are three steps you can take to safeguard your operation.
1. Utilize a Cannabis POS That Prohibits Unauthorized Actions
Imagine if your cannabis retail shop was equipped with a point of sale system that enabled employees to do whatever they pleased. For example, give unauthorized discounts to friends or sell to themselves. Instead of allowing your tools to be an aid in fraudulent behavior, consider utilizing a cannabis dispensary POS system with a permissions feature that gives you the ability to delegate user rights and make certain areas like discounting restricted to managers only.
2. Conduct Inventory Checks Regularly
If you’re relaxed about inventory, you’re setting up the perfect scenario for internal fraud to take place at your cannabis dispensary. Employees will quickly take note of how infrequently product counts occur and may take advantage by stealing small amounts of product over time. We recommend taking a count of your shop at least once a day and use a reliable inventory management tool to streamline the process.
3. Schedule More Than One Employee Per Shift
About 90 percent of theft in the cannabis retail industry comes from internal sources, so one of the easiest ways to detect and prevent fraud is to schedule more than one employee for any given shift. If possible, it’s a good idea to make sure there’s always a supervisor or manager on site to ensure sticky fingers are nowhere to be found. Any patterns that start to emerge regarding missing product or money can usually be traced back to the employee schedule, so save yourself a headache and staff accordingly.
Whether your cannabis retail shop has experienced theft or not, it’s never too late to implement tools and best practices to protect your investment. To learn more about how a cannabis specific point of sale system can prevent internal fraud, request a demonstration today.