SEATTLE, Aug. 12, 2019 /PRNewswire/ -- Headset, the leading provider of data and analytics to the cannabis industry, announced today that it has entered into a partnership with PAX Labs, a leading consumer technology brand in the design and development of premium vaporizers. The relationship will provide real-time insights that enable PAX and its brand partners to better anticipate device and pod inventory needs within dispensaries and market intelligence to inform business decision making. PAX's Era vaporizer was the single best-selling SKU across all product categories in CA, CO, OR and AZ in 2018.
Through Headset's vendor-managed inventory (VMI) technology, PAX, their brand partners and retailers have a shared line of sight into product availability and sales velocity — critical insights for production and inventory management. If retailers under-stock, they risk unsatisfied customers waiting for orders to be filled. But too much inventory can tie up working capital or, even worse, lead to losses if it is difficult to move. With Headset, when PAX inventory is low, retailers can generate reorder reports suggesting "just right" reordering levels. PAX brand partners are then alerted to low inventory levels, so they can proactively drive conversations with retailers for the benefit of consumers.
"We're excited that PAX chose Headset to help them and their brand partners integrate their inventory data in order to better serve retailers and ultimately customers," said Cy Scott, CEO and Co-founder of Headset. "VMI technology is a powerful tool that enables better collaboration and trust between retailers and producers, availability of high-margin product and consumers that keep coming back."
"We chose to integrate with Headset because they have one of the best VMI platforms in the market, with the most comprehensive data analytics and reporting dashboards," said Kristen Winterbotham, Director, Commercial Enablement at PAX Labs. "We're excited to be able to seamlessly provide our brand partners with the insights they need to grow their businesses while ensuring that our consumers have access to the products they know and love."
Headset is a data analytics company in the cannabis industry with a mission to help businesses make better-informed decisions through data. Headset focuses on collecting and analyzing consumer transaction information. Headset's models and dashboards help cannabis retailers better optimize their day-to-day operations. In addition, product manufacturers, processors and distributors leverage the aggregated, standardized and anonymized receipt-level sales data in real-time to identify trends and opportunities, stay competitive and collaborate with retail customers. Learn more at https://www.headset.io/.
About PAX Labs
PAX is a leader in the design and development of premium app-controlled vaporization technologies and devices. Headquartered in San Francisco, PAX has revolutionized the consumer experience through innovation and product design and is committed to taking the guesswork out of cannabis with products that offer quality, transparency and predictability. PAX has sold more than 500,000 Era devices for oil concentrates and over one million devices in the flower vaporizer category. PAX is committed to its mission: establishing cannabis as a force for good. For more information, please visit pax.com.
PAX Labs does not manufacture, produce or sell cannabis.