A robust provide chain is crucial to the success of any enterprise, however constructing a provide chain in the hashish trade presents distinctive challenges. One of the greatest challenges is discovering hashish license holders to construct a robust and dependable provide chain.

The actuality is discovering the proper provide chain companions can take quite a lot of time that hashish enterprise house owners merely don’t have. However, discovering the proper companions has to be a high precedence. Cannabis companies want to discover the greatest license holders to fill essential gaps throughout their provide chains in order that they’re positioned to be as profitable and worthwhile as doable.

Here are 4 methods you could find the proper hashish license holders to strengthen your provide chain and achieve confidence that you simply’re working effectively, legally, ethically, and profitably:

1. Network with Cannabis Industry Professionals

Participating in each in-person and digital occasions is a vital a part of setting your small business up for fulfillment in the hashish trade. Many hashish trade professionals representing all kinds of license holders attend occasions throughout the United States and round the world to community, construct relationships, find out about new companies, and scout for provide chain companions.

With that stated, you need to attend trade commerce exhibits and conferences to find out about alternatives, achieve new concepts, and construct relationships that may enhance your provide chain now and in the future.

Of course, with the ongoing coronavirus pandemic, many occasions have moved to digital gatherings. Regardless of the on-line format, they’re nonetheless simply as vital to your success.

2. Use Technology

Technology is crucial to efficient provide chain administration in the hashish trade. In addition to offering seed-to-sale monitoring, know-how can assist you discover and vet provide chain companions.

For instance, Cannabiz Media provides complimentary license holder subscriptions, which offer entry to license holder info from the Cannabiz Media License Database, so hashish companies can construct relationships with different license holders, confirm licenses, and keep up-to-date on native hashish market information and situations.

In addition, the Cannabiz Media License Database provides a Compliance Verification API that makes it fast and simple to entry the most correct license info and ensure the working standing and particulars of state-licensed hashish and hemp companies. There is not any quicker or extra dependable means to get the info you want to meet authorized necessities and make vital enterprise choices, together with choices associated to your provide chain companions.

You may also use web sites like Leafwire (a social networking web site for hashish trade professionals) and LeafLink (a digital market for hashish manufacturers, distributors, and retailers) to join with completely different license holders, construct relationships, and vet provide chain companions.

3. Do Your Due Diligence

In addition to utilizing the Cannabiz Media License Database to confirm license info and determine license holders and their staff, you need to conduct on-line analysis to study as a lot as you’ll be able to about firms you’re contemplating in your provide chain.

Reading on-line firm opinions can assist, however remember, many on-line opinions are faux. Therefore, you want to go a step additional to verify the authenticity of opinions and testimonials. Look for documented credentials and expertise – each for firms and people main these firms. For instance, you should utilize LinkedIn to verify people’ credentials.

Importantly, attain out immediately to license holders by cellphone and e-mail and get to know every firm’s leaders. Look for companions who will enhance your organization’s efficiencies whereas serving to you keep versatile sufficient to evolve with the trade.

4. Hire Strategically and Develop Internal Talent

Cannabis companies can profit considerably by hiring effectively and creating inner provide chain administration expertise. That means you want to rent expert and skilled provide chain professionals. An excellent provide chain professional can arrange your provide chain community, negotiate with suppliers, handle contracts, monitor prices, leverage know-how, enhance efficiencies, and extra.

According to provide chain recruitment firm Argentus, rapidly-scaling hashish companies want people who can:

  • Scale the enterprise and ramp up provide chain operations rapidly whereas preserving prices below management
  • Set up logistics networks
  • Build provider bases
  • Negotiate with suppliers
  • Manage provider contracts
  • Drive warehouse and distribution effectivity
  • Navigate the regulatory atmosphere
  • Negotiate commodity costs in the trade

Bottom-line, provide chain managers who know what they’re doing can enhance efficiencies, cut back dangers, and decrease prices.

Key Takeaways to Find the Right Cannabis License Holders to Strengthen Your Supply Chain

In each trade, a enterprise is barely as robust as its provide chain, and the hashish trade is not any completely different. If one piece of the worth chain is weak or damaged, the complete chain can collapse. Therefore, it’s vital that companies discover the proper hashish license holders to construct their provide chains.

To see how the Cannabiz Media License Database can assist you enhance your provide chain, schedule a free demo immediately!

Originally printed 6/12/19. Updated 7/10/20.

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