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.
Marijuana sales in North America grew by an exceptional 30% in 2016 to $6.7 billion as the market expanded to more states in the U.S. and Canada, according to a new report by Arcview Market Research. Another report by New Frontier states that marijuana sales could reach up to $24.5 billion in 2025. To put this in perspective, this industry growth is larger and faster than even the dot-com era when GDP grew at 22%. But are cultivation operations prepared to handle this unprecedented boom in demand for cannabis?