Tag Archives: laboratories

Cannabis Quality Conference Dates, Location Announced

By Cannabis Industry Journal Staff
No Comments

Innovative Publishing Company, Inc., the publisher of Cannabis Industry Journal has announced the return of the Cannabis Quality Conference (CQC), taking place October 16-18, 2023 at the Hilton in Parsippany, New Jersey. Presented by Cannabis Industry Journal, the CQC is a business-to-business conference and expo where cannabis industry leaders and stakeholders meet to build the future of the cannabis marketplace.

“New Jersey and the surrounding cannabis markets welcomed the CQC with open arms in 2022 and we’re excited to come back to North Jersey and expand on what we have built,” says Aaron Biros, editor of Cannabis Industry Journal and director of the Cannabis Quality Conference. “In addition to the sessions on cannabis quality, lab testing and infused products manufacturing, we will host sessions on the quality of business, strategic operational considerations and more.” The CQC is seeking abstracts for presentations and posters to be considered for the event. Click here to see the call for abstracts.

In addition to the two full days of cannabis education and programming, pre-conference workshops designed to address safety and compliance in cannabis edibles will take place on October 16. Also new to this year’s event is a strategic co-location with the Food Safety Consortium (FSC) running at the same time and in the same space as the CQC, allowing for food safety and cannabis professionals to meet and share best practices.

“We are bringing two great conferences together under one roof,” says Rick Biros, president of Innovative Publishing and director of the Food Safety Consortium. “The Food Safety Consortium will continue its strategic meeting of the minds format, but we are complementing that with the practical, boots-on-the-ground Food Safety Hazards track. Co-location with the CQC allows attendees to take advantage of additional education on product testing and quality assurance in the burgeoning cannabis market, as well as preconference workshops delving into infused product safety and compliance that will appeal to both food safety and cannabis professionals.”

Click here to stay up to date on lodging, early bird pricing, keynote announcements and more. All of these events will take place October 16-18, 2023 at the Hilton in Parsippany, New Jersey. For sponsorship and exhibit inquiries, contact RJ Palermo, Director of Sales, and Chelsea Patterson, Account Executive. Stay tuned for more information and when registration opens.

About Cannabis Industry Journal 

Cannabis Industry Journal is a digital media community for cannabis industry professionals. We inform, educate and connect cannabis growers, extractors, processors, infused products manufacturers, dispensaries, laboratories, suppliers, vendors and regulators with original, in-depth features and reports, curated industry news and user-contributed content, and live and virtual events that offer knowledge, perspectives, strategies and resources to facilitate an informed, legalized and safe cannabis marketplace.

About the Cannabis Quality Conference

The Cannabis Quality Conference is an educational and networking event for the cannabis industry that has cannabis safety, quality and regulatory compliance as the foundation of the educational content of the program. With a unique focus on science, technology, safety and compliance, the “CQC” enables attendees to engage in conversations that are critical for advancing careers and organizations alike. Delegates visit with exhibitors to learn about cutting-edge solutions, explore three high-level educational tracks for learning valuable industry trends, and network with industry executives to find solutions to improve quality, efficiency and cost effectiveness in the evolving cannabis industry.

New Jersey’s Careful Approach to Cannabis: Part Two

By Abraham Finberg, Simon Menkes, Rachel Wright
No Comments

Click here to read Part One where we examined the state of the market, licensing, approvals and sales. Part Two delves into all things taxes.


A “Raft” of Taxes

Like New York, New Jersey cannabis companies will be dealing with a raft of taxes:

Federal Section 280E: Will It Apply in New Jersey? Well … Sometimes

Section 280E disallows deductions on federal returns for expenditures connected with the illegal sale of drugs, requiring retail cannabis businesses to add back such significant expenses as rent and wages for sales staff.

Much like New York, cannabis companies in New Jersey can expect a lot of taxes

Unlike New York, New Jersey’s recent cannabis legislation did not state that cannabis businesses were exempt from 280E. However, the state’s individual tax laws do not conform to the internal revenue code, and accountants are inferring that 280E won’t apply to sole proprietorships. Conversely, the state’s corporations must start their tax calculations using Federal taxable income, meaning 280E would apply.

Sales Tax

Retail sales of adult use cannabis are subject to a 7% sales tax. Beginning July 1, 2022, medical cannabis sales are exempt from sales tax.

Purchases by cultivators of farming equipment and related property, such as plants, fertilizer and drip irrigation, are exempt from sales tax. Purchases by all cannabis businesses of materials used to contain, protect, wrap and deliver adult use cannabis are exempt from sales tax.

Excise Tax

The CRC has been empowered to collect a “Social Equity Excise Fee”, to be adjusted annually. The fee is currently $1.10 per ounce, but the CRC is able, but not mandated, to amend the fees to between $10 and $60 an ounce after nine months of adult use sales. At least 70 percent of all cannabis tax revenue is earmarked for investing into impact zones.

The fee is imposed on any sale or transfer of cannabis from a cultivator (or alternative treatment center that also cultivates) to any other cannabis business. The fee is not imposed on transfers from one cultivator to another, or from a cultivator to an alternative treatment center. The facility that purchases the cannabis is responsible for collecting the fee and remitting it to the NJ Division of Taxation.

Local Cannabis Transfer and User Taxes

Each municipality is authorized to impose a Local Cannabis Transfer Tax on sales from one cannabis establishment to another (including from one cultivator to another), and on the sale of cannabis to retail consumers. The allowed rate is capped at 2% of receipts, with the exception of cannabis wholesaler sales, which are capped at 1%.

Atlantic City, which considers itself friendly toward cannabis, passed an ordinance in September 2021 authorizing the collection of a 2% tax on retail adult use cannabis sales and a 1% tax on wholesale sales. Many cities with alternative treatment centers already have a 2% tax on medical cannabis. It is assumed they’ll be enacting the 2% transfer tax on adult use sales if approved to operate.

Other Unique Points About New Jersey Cannabis

  1. Adult use sales are limited: adults may possess up to one ounce total of cannabis products and can only purchase one ounce at a time.
  2. New Jersey is the only state that has legalized cannabis, but kept it illegal for a cannabis consumer to grow their own weed. Growing even one cannabis plant can land the offender in prison for up to five years and incur a $25,000 fine.
  3. About 400 municipalities have opted not to have retail cannabis shops; 98 have said yes. The new law has caused battles between mayors and their city councils, including the city of Paramus. 60% of Paramus residents voted in favor of adult use sales, and the mayor has stressed the benefit of the 2% transfer tax. Paramus city council unanimously rejected adult use cannabis, however. Some council members are against any sales, while others want to wait and see how other towns fare. Says Council Member Maria Elena Bellinger, “Ultimately … I feel that getting more data will only help us come to the right solution.”

Time Will Tell

New Jersey believes its careful approach will create the best adult use cannabis environment for its citizens. Only time will tell if the Garden State ends up avoiding some or all of the problems faced by states like California and New York.

ASTM Develops Two New Cannabis Standards

By Cannabis Industry Journal Staff
No Comments

According to a press release emailed this week, ASTM International’s subcommittee focused on cannabis, D37, is in the midst of developing two new standards surrounding cannabis safety and education.

One standard, WK84667, is designed to “help document engineering controls for air filtration and person protective equipment (PPE) in cannabis processing facilities,” says ASTM member Trevor Morones. The premise of this standard appears to be employee safety; with proper, standardized air filtration and PPE, the standard will help companies keep their workers safe and prevent inhalation of potentially harmful particles, like cannabis dust, stalk fiber, florescence and crystalized dust. “We are working to develop a robust community of cannabis professionals who can share their experiences in workplace and personnel safety,” says Morones.

The other proposed standard, WK84589, seeks to develop a uniform metric for “determining the intoxication level of a cannabinoid.” Initially focusing on delta9-THC, the standard will help raise awareness and promote public health and safety by informing consumers how intoxicating a cannabis product is for the average adult.

ASTM Pamela Epstein says this standard will hopefully develop a form of measurement akin to ABV in alcoholic drinks, allowing consumers to see how potent a certain cannabis product is. “Beyond providing consumers with a complete assessment of a product’s total intoxicating/impairing effects, the proposed standard may provide regulators with a methodology to meaningfully account for public health and safety,” says Epstein. “The specification can unify consumer awareness and can be used across all product types and jurisdictions.”

The ASTM D37 committee is working on a number of other standards related to these and they invite anyone interested to share their feedback.

AOAC International Names New CSO

By Cannabis Industry Journal Staff
No Comments

AOAC International, an independent nonprofit standards development organization has announced the appointment of Dr. Katerina (Kate) Mastovska as their new deputy executive director and chief science officer.

Dr. Katerina Mastovska

Most recently, Dr. Mastovska served as chief science officer for the Eurofins US Food Division. She has been an active member of AOAC for almost twenty years, winning the Harvey W. Wiley Award in 2021, their highest scientific honor. “I’m delighted to join the AOAC staff and lead the team of dedicated scientists,” says Dr. Mastovska. “AOAC has a critical role in food safety, and I’m inspired to continue to be a part of this important work.”

AOAC International works actively in the cannabis industry through their Cannabis Analytical Science Program (CASP), a working group established in 2019 that is dedicated to developing standardized methods in cannabis testing. In the world of cannabis lab testing, AOAC International creates standards under the standard method performance requirements (SMPR®) moniker, which are detailed descriptions of what analytical methods should be able to do.

More recently, CASP launched their own proficiency testing program last year and launched their first round, shipping samples to labs across the country in the Fall.

2022 Cannabis Labs Virtual Conference: December Program

By Cannabis Industry Journal Staff
No Comments

2022 Cannabis Labs Virtual Conference: December Program

Sponsored by Avivatech & Millipore Sigma

Click here to watch the recording

Agenda

Potency Inflation: The Problem, the Causes and the Solutions

  • Sarah Otis, Quality, R&D Manager, Anresco Laboratories
  • Erik Paulson, Ph.D., Lab Manager, InfiniteCAL

THC potency inflation by third-party testing labs has been an escalating feature of the cannabis industry since its legalization. In California, market forces and lack of regulation have allowed potency inflation to intensify in both its flagrancy and its pervasiveness, particularly within the last year. Two third-party testing labs in California, InfiniteCAL and Anresco, discuss how the industry got to this point, the different methods that labs use to inflate potency, and steps that can be taken to combat it.

TechTalk: Avivatech

  • Shawn Kruger, Senior Vice President of Product & Strategy, Avivatech

The Laboratory Information Landscape in Cannabis Testing

  • James Brennan, Sales & Marketing Specialist, LabWare
  • Eugene Olkhov, Data Scientist, LabWare

This presentation will guide attendees through the data continuum in modern cannabis testing laboratories supported by various software solutions. The presenters will describe the business and regulatory benefits of laboratory informatics and system deployment options, challenges, and financial considerations.

  • The current flow of cannabis testing data
  • An overview of informatics solutions for cannabis testing labs
  • Laboratory informatics and regulatory compliance
  • The impact of digital transformation on cannabis testing data

TechTalk: MilliporeSigma

Cannabis Testing Regulations & Implications for Environmental Monitoring

  • Sarah Powell Price, Regulatory Expert for Food Safety & Cannabis for North America, MilliporeSigma
  • Anne Connors Weeks, Senior Field Marketing Manager, MilliporeSigma

Cannabis testing requirements are continuously evolving, as are analyte detection capabilities.  This presentation provides a high level overview of the latest US cannabis testing regulatory landscape and how environmental monitoring is an essential component of safety and compliance planning.

Click here to watch the recording

The 3-Legged Stool of Successful Grow Operations: Climate, Cultivation & Genetics – Part 5

By Phil Gibson
No Comments

This is Part 5 in The 3-Legged Stool of Successful Grow Operations series. Click here to see Part 1, here to see Part 2,  here to see Part 3, and here to see part 4. Stay tuned for the final piece in the series, Part 6, coming in the new year.

Genetics

With climate and cultivation methods explored, today, we cover the third leg in the primary stool, genetics. Some would say good genetics is all that you need and anyone can be successful with good genetics. We all know that this is not experience talking. Things can go wrong, even with great genetics. Here are some inputs how to pick great genetics so you have them on your side.

Hybrids & Strains

Seeds, the beginning of genetic performance

Everything successful cultivators grow is aligned to their consumer audience. This is hard to predict as the desires in your market will migrate over time as one variety will be highly popular and poof, it’s not, so constant change is necessary. Finding the right flower at the right time is the trick.

The first thing to decide in your pursuit of the ideal phenotype (or pheno-hunt) are your target customers. Assuming you’ve made the choice to go “top-shelf” for aeroponic or hydroponic flower, your variety selection comes down to filial breeder seeds or stable strains from suppliers you know.

Filial hybrids are developed by professional breeders. Two distinct inbred strains are repetitively crossed until their traits are highly consistent. At this point, these carefully inbred lines are crossed to selectively mix the two well defined sets of traits. Filial hybrids are stable and you can usually rely on the robust nature of these seeds.

Strains, on the other hand, are the cross of two strains but they may not be inbred stable filial strains. Sometimes this results in something amazing, but just as randomly, the traits can morph into something disappointing.

Our advice here is to pay the premium and start with high quality reliable stock.

Uniformity

Consistency? Will you grow one variety or multiple varieties per room and per harvest; will they grow well together? Do they grow and test out in a consistent manner (plant size, color, bud size & yield, tested terpene profiles, aroma, disease resistance or tolerance). Are you growing for top shelf flower or bulk extraction? I will focus this discussion on top shelf flower. Premium seeds from professional filial hybrids are not a guarantee, but they are designed to be stable and consistent in their growth and results targeting high performance.

High cannabinoids: 420Kingdom Grapes & Cream

Here, experience counts and reliable seed vendors tend to be well established with filial lines that are worth the investment. Once you acquire your genetics, how to leverage that investment?

Killer Genetics

What traits does your consumer want? Initial searches usually target THC or CBD levels and they evolve to special terpene profiles or pleasing aromas. Flower or bud shape, color, size, density, and stickiness are also traits that can differentiate your genetics. As a producer, you also want to target yield including tall or stretching genetics, or short and fast flowering, germination rates (sometimes they don’t) and percentage of likely hermaphroditing (seldom zero). The qualitative aspects (smoking characteristics) of your production flower that deliver a unique customer experience, both real and imagined, wrap up your brand experience.

So, as you can guess, one size does not fit all types of consumers. Very high yielders that are immediately targeted for extraction offer very different values than perhaps a smaller yielding very potent top shelf smokeable bud. It is a good strategy to plan for a handful of strains that you can bring to market so you have something that will hit the sweet-spot when you deliver your harvests.

Seeds

Seeds with documented guarantees from reliable sources eliminate the characteristic risk, and with the right testing reports, they guarantee no pathogens as well.

The challenge of seeds can be genetic variation, as discussed above, depending on the stability of the commercial breeder. This potential variance can lead to surprises and disappointment. Starting from seed also takes more time to germinate the seeds, exterminate the males, grow mother plants, take cuttings, and start the cycle. This can add 12-16 weeks to your go-green targets for your flower rooms. Be sure to integrate this cycle time planning into your production cycle.

Clones

Insourced clones are the fastest way to go green and move through veg to produce flowering plants and bud harvest. Clones are created by taking a branch cutting from a “mother” plant and typically “rooting” that cutting using an aeroponic cloning system. This clone process can take a few days or weeks depending on the grow environment and aeroponics process. A rooted clone maintains the genetic characteristics and phenotype of the mother plant.

The typical way smaller grow shops get started is through buying clones that are made from these rooted branch cuttings. The combination of mother plants, clones, and sometimes “veg” plants are gathered together in a “nursery”. Nurseries need to be stable for long periods of time to produce the veg growth necessary for cuttings. This time delay makes it harder for the nursery provider to keep the area sterile, without disease, and without pests. If the mothers carry a disease, they are likely to transfer that biologic over to the cuttings. If the media that the clones are grown in picks up root gnats, they will travel with the clones into your facility. The short answer is source your clones from professionally run operations. This trust is worth every penny.

Blue Dream clone array: AEssenseGrows

Insourcing clones allows you to avoid the cost and complexity of running a “nursery”, but this also moves the pest management and quality of mother stock and clones outside of your control zone. In other words, you depend on the clone supplier for both healthy plants AND availability. No clone available from your supplier means no flower in your grow rooms. Your production revenue depends on the reliability of your clone supplier in many ways.

In some grow operations, the nursery is extended to cover the vegetative growth stage of cannabis plants or “veg.” In other approaches, a flower room is occupied for an additional week or two for veg growth. We at AEssenseGrows are strong advocates of running all cloning and vegging activity in a vertical aeroponic nursery in parallel to your flower rooms

Mothers, clone, and veg stages all grow with a vegetative growth light schedule (18 hours on, 6 hours off). The typical process is to take a cutting from a mother plant, place that in an aeroponic “cloner” for 10-12 days until a healthy set of roots is formed for the cutting. That clone is then typically pinched off at the top of the plant at which point the veg stage can begin. Light intensity is gradually increased and the plants are typically vegged for an additional 2 weeks, at this point, you have a bushy veg plant that is ready for a 12/12 light cycle and flowering.

In aeroponics, all of this is done in nursery space. If you choose to use soil or grow media approaches, a series of increasingly larger buckets or rockwool cubes are needed to manage the veg stage and the transition to flower. This can be done in a dedicated veg room or for the first week or two in the flower rooms

Tissue Culture

Healthy Agent Orange mothers: Onyx

Another method for creating your young plants is tissue culture. This is the method of harvesting genetic material from an existing plant with desired characteristics. These genetic samples can be contamination free and even supplied by a genetic bank. A portion of these tissues are cultured in a gel grow tray and the plant will develop roots with a stalk that reaches upward for light energy.

These plant starts are hardened in a similar method to cloning and typically, these starts are grown into mothers that supply your cuttings for the clone cycle. This is an advanced method, so plan for research and development with expected delays to the front end of your sourcing cycle if you choose this path.

Strain Examples

Selecting the best genetics for your market is an art form. Many choices abound. High yielding dense classic strains are Blue Dream, Skittles, Sour Diesel and Girl Scout Cookies. Each of these deliver a typical 18%-24% THC content from fast growing, medium height high plants that yield dense buds. Very potent THC genetics that are popular currently are various “OG” genetics, Bruce Banner, various “Cake” genetics and Kush options. Variants of these run from 25% to 35% THC content.

This Chapter’s Hero Award

Every customer produces great results for their markets but we are very impressed by the genetic selections by 420Kingdom in the central valley of California. Jeffrey Thorn is the owner there and continues to impress with a range of high potency genetics that demand premium prices and sell out regularly in their highly competitive market.

With good genetics for your consumers, you are positioned to be successful. Advanced cultivation methods like aeroponics and hydroponics can give you a lift and the right environment and nutrition helps you tie this all together. Our next and last chapter will cover consistency and repeatability through Standard Operating Procedures (SOPs).

First Pharma vs Cannabis Clinical Trial Moves Forward

By Christina DiArcangelo
No Comments

Affinity Bio Partners on Working with Zelira Therapeutics to Complete Enrolment for Diabetic Nerve Pain Drug Trial

It’s an exciting time in the medical cannabis community as Zelira, a global leader in the research, development and commercialization of clinically validated cannabinoid medicines, and Affinity Bio Partners, a leading, global clinical research organization, have completed enrollment for a diabetic nerve pain drug trial. The Institutional Review Board (IRB)-approved head-to-head trial read out is expected in Q1 of 2023. Two years in the making, the study’s clinical management, clinical trial site monitoring, subject recruitment, regulatory submissions and review and query of data have brought us to a pivotal point that could pave the way for how future clinical studies are conducted in the medical cannabis community. As someone who comes from traditional pharma and biotechnology industries, heading up a clinical study in the medical cannabis realm has been a significantly different, eye-opening and informative experience that reinforces the dire need for mainstream, medical cannabis education.

Difficulties of Enrolling Subjects in a Cannabinoid-Based Clinical Study 

There are a number of reasons that enrolling a cannabinoid study is very challenging. One of the biggest challenges to overcome is creating educational clinical study material that will be approved by the Institutional Review Board while educating potential subjects who are interested in enrolling. In other words, one must fully understand the regulatory landscape that they’re operating in, and we all know cannabis is a tricky one, while still educating potential subjects.

When screening subjects, it is important to be able to thoroughly share facts regarding cannabinoids, terpenes and other ingredients utilized in the study material. Also, sharing information on the endocannabinoid system is important, and a must for subjects to understand. In addition, it is integral to share and contrast between the traditional pharmaceutical products versus the cannabinoid study drug. Meaning, most subjects understand and are familiar with pills and other treatments approved in the traditional FDA regulated pharmaceutical space. Therefore, you must ensure that you create a bridge between a study’s educational materials and the lack of mainstream education about cannabinoid-based therapies.

The Impact This Will Have on Future Cannabinoid-Based Clinical Studies

There is a lot of hope that by working on a study of this magnitude, that we will pave the way for many more companies to bravely enter the clinical trial space as it pertains to medical cannabis. Everything that is being performed in this Zelira clinical study is in accordance with all applicable laws and regulations. The team is utilizing an electronic patient reported outcomes and electronic data capture system to receive data directly from the clinical trial sites as they are seeing the patients. As more patients, groups, communities and organizations learn about this, we hope that other large players in the cannabis industry invest their money wisely and perform clinical studies on their formulated products. Companies are unable to make claims of product safety and efficacy legally without these clinical studies. As we approach 2023, it is time for us as an industry to begin forecasting future clinical studies that will help power the therapeutic benefits this plant has to offer in responsible, controlled settings.

A greenhouse grow facility

Challenges Abound for Cannabis Industry Growth in 2023

By Jay Virdi
1 Comment
A greenhouse grow facility

With an adverse regulatory environment, labor shortages, supply chain disruptions and the always-present threat of property damage and product recalls, cannabis operators are fighting an uphill battle to stay viable in today’s environment.

According to Politico, more than 20 of the largest publicly-traded cannabis companies lost about $550 million on revenues of nearly $4.5 billion in the first half of 2022. High taxes and barriers to interstate commerce continue to challenge the industry as well, while lenders and investors are demanding more detailed proof of future profitability. Those pursuing new capital must show how they will grow financially and present their risk management strategy for insuring themselves against losses.

Higher costs for fertilizer, building materials, packaging and more, along with rising inflation are hurting the industry’s bottom line as well, but the industry is hesitant to raise prices.

These challenges are expected to continue in 2023. However, the industry’s fast pace of growth, myriad opportunities for product development and increased access to insurance capacity offers the cannabis industry every reason for optimism.

Prioritize risk strategies

Cannabis facilities face hazards from the very components and systems required to cultivate plants, including high intensity discharge lighting, chemical exposures and butane in oil extractions. As a condition of insuring a property, underwriters are inspecting the equipment used in production and fire suppression systems.

Property policies typically don’t cover out-buildings for cannabis growers located near a hurricane or wildfire zone, and more carriers are limiting or excluding coverage for losses from large-scale natural disasters. Even coverage for crop losses from catastrophic events is limited and often prohibitively expensive.

Cannabis companies are shoring up their risk strategies and analyzing policies to ensure they’re aware of any gaps in coverage and planning how to address them. This includes adding cyber insurance, as cyber also remains a significant loss-driver in the industry.

Beware of new risks

The cannabis industry is introducing products to the market at a breakneck pace, causing new challenges to emerge. New products — such as THC-infused beverages, sugar-free cannabis tarts and cannabinoid-containing baking staples— require additional research and development for extraction, packaging, storage and distribution. And many products require refrigeration and bottling, adding complexity to distribution.

The continued growth of the cannabis edibles and beverages market is also driving companies to create new formulas, products, and strengths. But this innovation does add risk. States issued dozens of recalls in 2022 for marijuana edibles, including mislabeling and mold and salmonella contamination. These incidents have attracted the attention of plaintiffs’ attorneys, who have filed suits on behalf of consumers claiming injury from these mislabeled or contaminated products.

Invest in your staff

Although the number of jobs in the cannabis industry grew 33% between 2021 and 2022, and the need for new workers shows no signs of slowing, cannabis companies are experiencing high turnover rates and a skilled labor shortage. This is forcing operators to spend additional time and money to attract and retain employees.

Personalized benefits programs offer a partial answer. Personalizing benefits to meet individual employee needs results in positive employee experiences, helping build a workplace that attracts and retains workers. Many companies are adding health insurance and offering 401(k) plans, raising wages and adopting other worker-friendly practices to attract and retain workers.

control the room environment

Cannabis companies with solid risk management plans and advisors to help ensure their insurance policies cover exposures, will be well-positioned to overcome industry challenges, grow, and succeed in 2023. Here are four considerations to help develop a tailored strategy that will protect your bottom line, support your workforce, and build resiliency next year.

  1. Be transparent with your broker. Let your broker know what changes you’ve made to the business, so there are no surprises during renewal. Review exposures and insurance needs at least 90 days prior to policy renewal, so your broker can identify the best options.
  2. Prepare for a product recall. The odds of experiencing a product recall are high. Your first line of defense is your internal policies and procedures, and that includes thoroughly vetting your vendors and partners. Be thoughtful about the general liability and product liability coverage you purchase and ask your broker to clearly explain the differences in coverage.  
  3. Build resiliency within your company. With more carriers offering specialty coverages for the cannabis industry, now is the time to look at how best to protect your executives and build resiliency by insuring against director and officer liability claims, business interruptions and cyberattacks. Your broker can help identify the best policies for your company.
  4. Establish solid employee benefits. The cannabis industry can have access to the same benefits as other industries, including 401(k) plans. Talk to your broker about taking your benefits program to the next level with highly personalized options that won’t break your budget.

Even amidst the challenges, there is every reason for optimism in the new year because of the industry’s fast pace of growth, myriad opportunities for product development and increased access to insurance capacity.

2022 Cannabis Supply Chain Virtual Conference

By Cannabis Industry Journal Staff
No Comments

2022 Cannabis Supply Chain Virtual Conference

Sponsored by CannaSpyGlass

View On-Demand Now

Click here to see all available CIJ events and webinars

Agenda

A Smarter Cannabis Beverage Distribution Model

  • Jason Vegotsky, Chief Executive Officer, Petalfast

Current cannabis distribution models make it hard for emerging cannabis beverage brands to launch and scale their businesses successfully. Instead, the wine & beverage sector could provide a model that would allow these brands to build relationships with retailers, foster competition, and improve brand diversity for consumers. In this presentation, Jason Vegotsky will delve into the cannabis sales and distribution model, examine how current models hurt emerging brands and products, and analyze how other CPG models, specifically in food & beverage industries, can be applied to cannabis to build relationships and improve sales.

Track-and-Trace Technology: Building Resilience in the Cannabis Supply Chain

  • Michael Johnson, CEO, Metrc

Building resilience in supply chains is a goal for all parties involved in a given market. Governments have an interest in protecting the health of consumers while safeguarding the flow of goods; businesses want to stay compliant while efficiently moving products; and consumers want and should expect that the products they buy are safe and effective. With heightened awareness around transparency and consumer safety in the cannabis industry, track-and-trace technologies have been central to building broad trust by ensuring more secure supply chains. In this presentation, Michael Johnson will discuss how these tools will continue to be deeply transformational in the sector.

Improve Your Operations through Cannabis Industry Analytics – CannaSpyGlass Sponsored Tech Talk

  • Adam Hutchinson, Co-Founder, CannaSupplyGlass

As new markets legalize and additional business licenses are distributed, competition between cannabis operators is intensifying in every stage of the supply chain from seed-to-sale. It is now tougher than ever to carve out a piece of this increasingly saturated market and cannabis operators aiming to succeed must incorporate industry analytics into their decision-making process. With data analytics, cannabis is no longer an industry of trial and error, and in this session, cannabis operators will learn how to obtain and utilize data analytics to improve their businesses and sustain long-term growth.

Quality and Safety and the Edibles Supply Chain

  • Steven Gendel, Ph.D., Principal, Gendel Food Safety

As the number and variety of cannabis and hemp-containing edibles continues to increase, the supply chains for these products have become complex and diverse. This means that manufacturers must understand how to develop and apply supply chain controls that protect consumers and ensure product quality and safety.  For example, a simple cannabis-infused baked product might contain more than 20 non-cannabis ingredients sourced from multiple suppliers.  The manufacturer of this product must ensure that each of these ingredients meets specifications every time a new batch or lot is received and used.  Unfortunately, there is little guidance available to the cannabis industry (especially those who are not familiar with food manufacturing) on how to identify and evaluate supply chain risks or on what controls will be most effective in mitigating these risks.  This talk will look at the steps that cannabis manufacturers can take to evaluate their supply chain, monitor and control identified risks, and respond to changes in the industry landscape.

Managing Cash Flow in the Cannabis Supply Chain

  • Nohtal Partansky, Co-Founder & CEO, Sorting Robotics

The cannabis supply chain has pitfalls and landmines that can severely hurt a business if navigated improperly. The balance between branding, packaging, growing, distribution, testing, and quality is difficult to achieve. If one of aforementioned topics fails to deliver, it can mean huge financial losses or the death of a brand. In this presentation, we will cover how managing cash flow throughout the supply chain is critical to running a successful operation. There will be several case studies in improperly managed supply chains and their consequences on the balance sheet. There will also be an exploration of what the ideal supply chain would look like in the California market, how that correlates to other adjacent industries, and how it manifests into liquidity.

View On-Demand Now