Attention California, Michigan and Massachusetts cannabis licensees. Worried about getting your operation ready to be fully live and operational with METRC? Flourish can help. We are a certified integration vendor with METRC in the following states:
It’s All In The Data
The Balance Between Operational Efficiency and Compliance
In last week’s blog, we honed in on the distinctive but complementary needs of the different stakeholders involved in the cannabis supply chain. Whether you are a cultivator, a manufacturer, or a distributor, you are primarily concerned with three questions in regard to your business:
Operational Dependency in the Cannabis Industry
Business processes vary for the different seed-to-sale stakeholders involved in the cannabis industry, and consequently, their pain points – whether operations-related or compliance-related – vary, too.
What a cultivator needs from a technology solution to combat these pain points differs from what a manufacturer needs, what a distributor needs, and what a retailer needs. A company may handle one, some, or all of these business operations. However, whether within the same company or between different companies, these operations aren’t isolated from one another – they’re critically dependent.
The Need for a Vertically-Integrated Approach
Can your supply chain software run your business while also keeping you compliant?
Cannabis businesses are facing a growing challenge: Compliance.
So far, 9 U.S. states have legalized recreational marijuana and 29 U.S. states have legalized medical marijuana. As the cannabis industry continues to grow and mature, however, states are ratcheting up their oversight and expectations, and there is an increasing need for consistency in regard to the quality of the product and the operations that surround it.
Operators have to maintain compliance with state regulations while also thinking ahead to what will happen when the federal government removes cannabis as a Schedule 1 drug, paving the way for the FDA and other federal organizations to become involved. Naturally, we have to be prepared by asking ourselves some important questions, such as:
- How do I prevent fines when being audited?
- What can I be doing to avoid a cease and desist letter?
- How do I quickly and easily provide the information requested during an audit to both protect my business and allow me to get back to operations as soon as possible?
Change is not only coming, it’s already here. In case you’ve missed some key highlights recently while celebrating 4/20, consider this:
The first marijuana law in America, enacted in Jamestown colony in 1619, actually required settlers to grow cannabis. Cannabis was frequently used for trades, and some colonies even allowed farmers to pay taxes with cannabis. This tax policy lasted for more than 200 years until the early 1900s when legislation began leaning toward prohibiting both the cultivation and sale of the product.
In January of 2018 the State of California announced they would be issuing annual licenses within 180 days and within that time the state track and trace system for cannabis, METRC, would be operational. With METRC integration imminent, now is the time to think about how to track plant movement and inventory levels to start reporting the required data back to the state. The first step you should take is to find a business partner whose software platform will provide value for your business and also assist in helping you make this transition.
Domestically in the United States, licensed cannabis business owners are working hard to deliver superior value to their customers while also maintaining compliance with state and local agencies. To say the least, the challenges facing these businesses can be both daunting and uncertain. Not only is there very little, if any, assistance for these companies, everyone is walking on egg shells to ensure their licenses are not revoked and they are not fined large sums of money.