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Cannabis Business Licensing & Compliance 6. Compliance with security requirements (facilities, protocols). High compliance costs: Security measures, GMP standards, and detailed reporting. What security and compliance requirements do cannabis businesses need to meet? Import, Export & SupplyChain Regulations 17.
Since COVID-19 rocked the economy, cannabis businesses and supplychains claim to have been playing catch-up to get back to business as usual. they cant fully attribute high prices to COVID-era supplychain issues unless they factor in items like growing equipment that are commonly manufactured and shipped from overseas.
Akerna (Nasdaq: KERN ), an enterprise software, leading compliance technology provider, and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform ® ), announced a new offering, Akerna Connect. The tools that Akerna Connect provides our dispensary are game changing.
These new team members will be instrumental as we scale our business to tackle the compliance and marketing needs of companies in both the cannabis sector and other highly regulated industries.”. Mainstream brands also use the Fyllo Data Marketplace to target previously inaccessible cannabis and CBD consumers.
High product quality relies on a true understanding of the entire supplychain, from seed to sale with sanitized processes and quality checks including the creation of well-detailed preventative control plans that are in place to avoid instances of hazards like contamination or other public safety risks.
Metrc stated, “Seamless data tracking in Metrc helps operators optimize inventory control, accurately report sales data, and improve cultivation management. With the new contract, Metrc is poised to take over Illinois’ seed-to-sale tracking for licensed operators. Illinois uses BioTrack as its current track-and-trace vendor.
Akerna (Nasdaq: KERN ), an enterprise software, leading compliance technology provider, and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®) today announced the release of its second annual mid-year review. Full cannabis supplychaindata.
clinical data, and preparation of CTD/DMF/QOS/SmPC where required. Ensure that scientific data supporting submissions are following domestic and international regulations and all relevant guidelines and policies. Perform regulatory impact assessment of CMC relevant changes to ensure continuous compliance with applicable regulations.
Changes in regulations can have ripple effects throughout the industry, impacting supplychains, investment strategies, and consumer access to medical cannabis products. Effective supplychain management encompasses inventory management, transportation logistics, and compliance with regulatory requirements.
It has the potential to revolutionize the experience for consumers and companies alike, from improving the cultivation process and boosting production to increasing efficiency, solving supplychain issues, and enhancing the customer experience. Analysis from AI can help businesses increase customer loyalty and drive sales.
This further validates our vision and decision to build our infrastructure in Colombia where we expect to be able to supply our partners and all Avicanna’s cannabinoid needs.”. To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.
The export to Brazil also confirms the regulatory pathway and acts as a proof of concept in the largest market in South America where we aim to establish long-lasting supply relationships with our Brazilian pharmaceutical partners.”. 1 Source: Passport, Euromonitor International, Cannabis in Latin America, July 2021.
Segra’s Verified Segra Stock™ plantlets will provide BRC with standardized and validated starting materials produced through plant tissue culture, and backed by extensive agronomic data and Cannabis plant pathogen screening. Learn more at Segra International or by viewing the 2021 Cultivar and Services Catalogue.
Hemp supplychain companies need qualified third-party laboratories that meticulously follow nuanced laws to ensure their products are permissible across the country. The diverse regulations mean multi-state hemp operators need reliable support to remain compliant.
Without compliance boxes checked, the operation will not be able to launch. Data & Software. Nearly every single state requires license holders to document compliance using seed-to-sale tracking software. This ensures that at any moment data can be sourced from every legal cannabis plant that has been grown and sold.
Akerna to acquire 365 Cannabis, built on Microsoft’s Dynamics 365 Business Central, and become the most comprehensive cannabis ERP system offering a complete portfolio of tax, financials, reporting and compliance systems. DENVER , Sept. LTM revenue. An updated investor deck on the transaction will be made available at: ir.akerna.com.
This milestone speaks to the success of licensees that have interacted with the Commission from the application stage, maintained compliance with our strict regulations, and contribute every day to communities across the Commonwealth. This past May, the Commission launched the license application for Marijuana Delivery Operators.
One of the panelists is addressing the deficiencies in the supplychain and provides a “white label” facility for growing, developing new products, and analyzing technical data, among other services. Another panelists runs a full service creative and compliance agency for the cannabis industry.
Treez ( www.treez.io ) , a private company and leading provider of an enterprise cloud platform that streamlines retail and supplychain operations in the cannabis market, today announced it was ranked #13 by the San Francisco Business Times on the Fast 100 annual fastest-growing companies in the Bay Area 2021 list.
Additionally, it validates the Company’s supplychain business model of providing psilocybin for clinical use and research, adding to previously announced supply partnerships this year with Mycrodose Therapeutics , Mycotopia Therapies , Cube Psytech , Allied Health , ATMA Journey Centers , Revive Therapeutics and HealthTech Connex.
He added, “While we are optimistic the operating environment will continue to improve, we are closely monitoring the potential volatility associated with the evolving pandemic and continued supplychain disruptions. Production facility, aging warehouse, or supplychain disruption. Imprecision in supply/demand forecasting.
Building the bridge between brands and the marketplace through testing and the importance of good data. A need for data at all of these levels and data specific to product type drives more advanced methodology in the laboratories, often resulting in a better understanding of the matrix and more accurate data.
Offer cannabis operators a seamless solution from startup to multi-state operator while maintaining regulatory compliance every step of the way through Akerna’s compliance gateway. First launched in 2010, Akerna has tracked more than $20 billion in cannabis sales to date and was the first cannabis software company listed on Nasdaq.
Agricor and Botanacor had achieved industry renown for delivering accurate and compliant product-testing services with the highest standards of cGMP for laboratory testing regulation, cGLP, and for scientific data integrity. Learn more: [link] ; 888-800-8223. About Agricor Laboratories.
But there is a general lack of understanding for the new industry and limited data on performance that could be contributing factors. Big data and analytics will play a critical role in helping to contain and manage the risks within the industry. There could many reasons for this. It starts with connecting the dots. Source: [link].
This new facility, solely dedicated to our brands, also contains multiple indoor grow rooms that enables us to fully integrate the supplychain in the Washington market and expands our partners existing growing capacity in our southern Washington facility, located at the Cowlitz manufacturing site.
We juxtaposed state license counts against the 320 companies that connect to METRC and Leaf Data Services in WA. Since compiling this data– we took an updated look and found 43 new companies are now part of the software stack. Applications may include ERP, seed-to-sale, compliance, and supplychain/logistics.
20, 2022 /PRNewswire/ — Dama Financial (“Dama”), the nation’s largest provider of access to banking and payment solutions for the cannabis industry, has entered into an agreement to acquire GrowFlow Corp. (“GrowFlow”), whose business management and compliance tools have processed more than $3.3
Seamless data tracking helps operators optimize inventory control, accurately report sales data, and improve cultivation management. We are eager to work side-by-side with the Metrc team to establish a well-regulated supplychain to ensure the long-term safety and security of patients and providers.”.
Last summer, Cannabiz Media published its first Cannabis Software Stack Report where we juxtaposed state license counts against all the companies that connect to METRC and Leaf Data Services in WA. Since compiling this data, we published an update last November with 43 additional companies. Advisory (81). Conclusion.
And recent data released by the USDA on the value of national hemp production in 2021 reveals that, despite challenges across the country, hemp remains a viable and valuable domestic crop. The USDA is keenly aware of the need for more data from the industry to develop more specific, data-driven policies in the future.
Denver-headquartered Flowhub is a cannabis retail software company which delivers compliance, point of sale, inventory tracking and business intelligence data to cannabis dispensaries through a digital platform.
Improved supplychain execution and quality enhancements are leading to commercial success. ” “We made tremendous progress improving our supplychain and right-sizing our manufacturing footprint, bringing supply and demand into balance,” added Mike Lee , CFO. opportunities in Fiscal 2022.”
1 Unless otherwise indicated, market share data disclosed in this press release is calculated using the Company’s internal proprietary market share tool that utilizes point of sales datasupplied by a third-party data provider, government agencies and our own retail store operations across the country.
– Integrated solution provides a single platform for compliance with vaccination status tracking and weekly testing requirements – STONY BROOK, N.Y. & By providing both vaccine status management and weekly COVID-19 testing, the integrated platform offers a single solution for compliance with the ETS.
Brown-Forman’s Global Sustainability Goals broaden the company’s focus beyond owned-business operations to include its supplychain, where the majority of the company’s environmental footprint resides, and are centered around four pillars: Climate Action : Reduce greenhouse gas emissions. Imprecision in supply/demand forecasting.
Substantial investment into regulatory compliance creating a strong base for future FDA regulatory guidelines. Exclusivity of the entire supplychain from soil to oil. A diverse management team with cross divisional synergies and incredible employees.
The company’s intelligent UPC aims to reduce cost and increase transparency in all parts of the supplychain, from growers to brands to retailers to consumers. Cultivators and brands can use this barcode to upload and access test results and compliance certifications. Wilder Ramsey from Gron Ventures led the Series A round.
The Department took steps this year to deliver on the promise of consolidation, establishing regulatory reforms that streamline requirements for cannabis licensees, unifying department operations to more efficiently support the entire supplychain, centralizing complaint reporting, and enhancing access to public resources and information.
As part of the different compliance testing that’s required, it’s not mandated to test for any of these additives… What I’m anticipating based on the phone calls we’ve been getting is that a lot of our customers want to get the test to show that they’re not using the stuff.”. We have developed a test for that,” Lannon says. “
Announcer : This is the Cannacurio Podcast by Cannabiz Media, your source for cannabis and hemp license updates directly from the data vault. Don’t forget to subscribe to the Cannabiz Media newsletter and follow us on LinkedIn, Instagram, Twitter and Facebook to stay informed of future episodes and data releases.
Supplychain disruptions adversely impacted these gains during the first half of the fiscal year. Premium bourbons, led by Woodford Reserve and Old Forester, maintained double-digit net sales growth fueled by strong volumetric gains in the United States and Travel Retail despite supplychain disruptions.
To start, the idea of tracking marijuana traveling throughout the supplychain sounds simple enough. We’re not seeing it work it’s way all the way through the supplychain, which ultimately means it’s kind of a broken system at the moment,” he said. The Burden of Compliance. But not without some growing pains.
Each legislative modification to Oregon’s regulated cannabis system has attempted to improve the industry’s economic stability by removing barriers to entering the market while at the same time enhancing regulatory compliance to address public safety concerns while withstanding federal scrutiny.
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