Recent years have been such a success for the cannabis industry, reflected by the massive growth recorded and various investors pouring in and investing in the industry. As more and more nations began to approve and legalize the use of cannabis for both medical and recreational purposes, the industry was in need of some more cutting-edge technical solutions to simplify supply chain operations.
Just as it did in numerous other industries, technology has had a massive impact on cannabis production, distribution, and sales. Extremely fast innovations, hardware, and software
development, as well as cultivation technologies, are empowering cannabis-growing individuals and companies to scale their businesses.
This may be achieved by producing high-quality cannabis goods, which aids businesses in remaining competitive in the expanding market and generating profits in the end. Through this article, we will examine the critical impact that technology advancements have on the cannabis supply chain.
Advanced Cultivation Technologies
Advanced Growing Systems
Technology has been a leading force in the replacement of traditional methods of growing cannabis and had them replaced with sophisticated automated systems. These systems include components that improve the environment for the development of high-quality cannabis, and some of the most common are artificial lighting, accurate nutrition supply, as well as environmental control systems.
However, a high-quality seed must be used from the beginning for this to succeed. For this reason, seed banks legal in numerous countries serve as repositories of high-quality cannabis seeds, offering a wide range of options to businesses. This has benefited the cannabis growers in many ways, as with automated systems and quality seedlings they are able to constantly grow quality seed in perfect conditions and to minimize the chances of human mistakes.
In other words, integrating cannabis technology into a business means that the company’s equipment and systems will operate smoothly and in sync. With all data being centralized management will be able to derive strategic insights and push the business forward.
Crop Steering
Crop steering is one of the current most popular tech innovations in indoor cultivation. As cannabis plants have hormonal systems that control their development in response to external environmental influence, the innovators have come to the idea of manipulating the environment to achieve the desired result.
Hence, crop steering is taking advantage of these hormonal reactions by modifying a controlled environment. With this technology, cultivators can modify the climate and create precise steering techniques in order to stimulate the plant to accelerate its growth cycle.
Seed-to-Sale Tracking and Track-and-Trace System
In the cannabis industry, the phrase “seed to sale” is frequently used to describe the complete process of cultivating and dispensing cannabis products, from the planting of the seed to the sale of the finished product. This covers every stage of the procedure, such as production, retail sales, and cultivation.
On the other hand, regulatory bodies in the cannabis industry utilize the track-and-trace system to monitor and ensure cannabis compliance with the rules for cannabis goods. The two systems are in most cases used interchangeably, as it is important to monitor cannabis goods throughout the whole process and ensure it is all according to the regulations.
Blockchain Technology
Blockchain technology is quite new on the market, but it has quickly gained huge success and among many industries, found its application in the cannabis industry. The reason for this is the ability of blockchain technology to provide transparent and secure transactions, which businesses can record, and track every transaction and movement of the goods, from point A to point B.
In such a big market, this technology reduces the risk of fraud and helps the supply chain efficiency. In other words, it creates a stronger bond built on trust between all participants, from suppliers to consumers.
E-commerce and Online Marketplaces
Retail via apps
Since the laws were approved, there have been substantial changes to the marketing and purchasing of cannabis. Companies may now create applications that let customers buy the herb online without worrying about violating the law thanks to technology. There are also online shops where consumers can search through a wide range of products, compare prices, and purchase goods.
As these are available to everyone, technological advancements have ensured secure transactions and more importantly age verification systems. On the other side, there are businesses who are also benefiting from these technologies as they are now able to track and manage consumer data, purchase history, and accordingly personalize their marketing strategies. Companies can now interact with their customers, providing them with personalized products and in return build long-term loyalty.
Technological improvements in the cannabis market are certainly something that has an interesting future ahead. So far it had an amazing effect on the transformation of the supply chain, enhancing all processes from seed to sale. From track and trace systems to advanced growing systems to the implementation of blockchain technology, the traditional methods of growing and selling cannabis have been almost completely eradicated.
There is still a way to go, but one thing is sure, as the cannabis industry continues to evolve it will be crucial to embrace new technologies in order to keep the position on the market and meet the growing demands.
