Cannabis Miracle Drug Breaks Through Legal Barriers

In what is being hailed as a landmark decision and historic first, the Federal Drug Administration (FDA) has approved the first drug with an active ingredient derived naturally from the cannabis plant. The FDA approved the drug, called Epidiolex, because it was proven to be effective in treating patients aged two and older who suffer from some rare and severe forms of epilepsy.

Developed by GW Pharmaceuticals, Epidiolex is derived from cannabidiol (CBD), a component of marijuana that does not cause intoxication. The ruling is historic because it removes a longstanding stigma associated with marijuana and opens the door for other cannabis drugs to gain approval.

Cannabis Gaining Respect

Besides spurring further research, the approval of Epidiolex should engender a more relaxed and open-minded attitude towards cannabis drugs. We recently discussed the shifting attitudes towards cannabis by politicians and the general public as seen in the warm welcome being received by new cannabis manufacturing plants being built.

“This approval is historic in that it allows us, as a pharmaceutical company, to talk about this product in the way that pharmaceutical companies normally talk about their drugs,” said GW Pharma CEO Justin Gover.

Despite a wealth of evidence that cannabis has significant medical benefits, the U.S. Drug Enforcement Administration (DEA) still classifies cannabis as a Schedule 1 drug that has “no currently accepted medical use and a high potential for abuse.” Thus, Epidiolex must be approved not only by the FDA, but by the DEA as well before it can be legally dispensed.

GW Pharma CEO Justin Gover sees no problem in the DEA reclassifying cannabis, pointing out that because the FDA’s approval is a determination of an accepted medical use, the DEA must recognize this, and Epidiolex will not remain classified as a Schedule 1 drug.

Hurdles Remain

The recognition that untapped curative powers reside in the cannabis plant is a big step forward in the mainstreaming of cannabis. However, there are still a considerable number of legal hurdles and institutionalized anti-cannabis sentiment that cannabis researchers must deal with.

As researcher Jacci Bainbridge reveals, she and other cannabis researchers are frustrated by the requirements imposed on them, including extra paperwork, committees, planning, and inspections—hurdles, she says, that researchers studying heroin don’t even have to face.

Even as the pendulum swings towards the acceptance of cannabis, the debate about the risks and benefits of cannabis is still being waged. There also are politicians and pundits who continue to demonize cannabis. Although Canada’s Senate voted to legalize cannabis, the bill was passed “over the objections of Conservative senators who remained resolutely opposed,” the Montreal Gazette reported.

Opponents will have an increasingly uphill battle as the medical benefits of cannabis continue to mount. As The Week reported, “The evidence suggests cannabis is a relatively safe drug that provides a host of medical benefits.”

Drug Source Should Not Be an Impediment

As GW Pharma CEO Justin Gover observed, the focus should be on the effectiveness of a drug rather than its origins, pointing out that there are very few medicines prescribed because of their origin as opposed to what they can do for a patient.

Although the FDA’a approval of Epidiolex is a historic milestone, said Gover, when it comes to physicians prescribing the drug, it’s about the efficacy and safety profile. Besides the FDA’s approval of Epidiolex, physicians will recognize the importance of positive studies that were published in The New England Journal of Medicine and The Lancet, he noted.

What’s Next?

While cannabis has been found to provide relief for a good number of ailments, researchers have only scratched the surface in uncovering its potential uses. “It’s actually quite amazing how little we really know about something that has been used for thousands of years,” said Sachin Patel, a cannabis researcher at Vanderbilt University.

The FDA’s approval of Epidiolex has observers speculating as to what will be the next cannabis drug to win approval. GW Pharma says it is developing a number of potential new cannabis-derived drugs for epilepsy, glioblastoma, and schizophrenia.

Interestingly, Epidiolex is not the world’s first plant-derived cannabinoid prescription drug. That honor goes to another GW Pharma drug called Sativex, which has been approved for the treatment of spasticity due to multiple sclerosis in numerous countries outside the United States.

According to outsiderclub.com, a former GW Pharma medical director has left the company and is now chief medical officer at a new cannabis drug company that is developing a drug that kills cancer cells.

As the cannabis barriers continue to fall, it seems as if it will only be a matter of time the full spectrum of medical benefits are able to be discovered. As the Outsider Club reported:

“Marijuana is the real deal. It’s here to stay. Legalization timelines are being compressed and expedited. And it’s created hundreds of billions in new wealth.”

As the maker of the most modern, integrated, and scalable cannabis manufacturing solution, MaxQ has deep cannabis industry expertise. Contact us to learn more about the latest trends and management solutions in the cannabis manufacturing industry. 

 


New Feature in Advanced Billing: Generate Date Calculation

In the upcoming Release 18 of Advanced Billing for Acumatica, we added a requested feature for calculating a “generate date” based on the contract terms. If you have contract invoice terms of 30 days, meaning the bill is due 30 days after the invoice date, and you want to have the due date entered as the date of the generated invoice, the Advanced Billing system will calculate the date for you.

First, enter a contract and set the terms to 30 Days. Make sure “Back Off Generation Date by Term Date” is checked.

Next, Auto Generate Billing Schedule.

Contract schedules are created with the correctly calculated dates. Notice the beginning date of the contract and distribution period is still 8/1/2018, but the generation date has been recalculated to be 7/2/2018, so the due date of the invoice will be 8/1/2018.

MaxQ is a provider of advanced Acumatica business solutions across a wide range of applications and industries

Contact us to learn more about how MaxQ for Acumatica solutions can help your business.


A Big Shift in Attitude Is Positive for Cannabis Industry

The winds of change are blowing across the country as politicians and the public turn from hostility to a more accepting and welcoming attitude towards cannabis. The removal of political roadblocks is good news for cannabis manufacturers, as the market seems to have reached a tipping point with more and more states legalizing cannabis and the worldwide market expanding.

The expansion of cannabis manufacturing is continuing at a rapid pace throughout the United States. We’ve reported on new factories cropping up in Florida, Nevada, and California, and now another new plant is set to open in Cedar Rapids, Iowa, the second cannabis operation to open in that state.

Getting on the Cannabis Bandwagon

As the number of cannabis manufacturing plants increases, we are seeing a steady stream of stories about changes to state laws, new permits being issued to manufacturers, and comments from state officials and local populations about the positive impact the cannabis industry is having on their region.

This turnaround is significant because even medical cannabis has taken a hit from politicians who have conflated medical and recreational marijuana while demonizing cannabis to the public. The tone is changing as we hear positive statements from politicians like Cedar Rapids city manager Jeff Pomeranz, who had only praise for the new cannabis plant in his district.

“It’s twenty-one new jobs, manufacturing in Cedar Rapids, it will be good for the people of Iowa, and it makes sense for Iowa’s second-largest city to have a plant,” said Pomerantz.

The Cedar Rapids plant is being built by Iowa Relieve, a subsidiary of Acreage Holdings, one of the largest medical cannabis manufacturers, with cultivation, processing, and dispensary operations in 12 states. Like MedMen and other major cannabis manufacturers, Acreage Farms is expanding rapidly and has plans to set up operations in New York, Florida, and Maryland this year. The company also has plans to become a publicly traded company in Canada.

Citing the growing recognition of the benefits of medical cannabis, Acreage Farms observed that, “As cannabis becomes legal across the country, we’re witnessing a pivotal moment in medical research and treatment — the kind of shift that changes lives for millions.”

No Federal Crackdown  in Massachusetts

Another positive sign for the cannabis industry is U.S. Attorney Andrew Lelling issuing a statement that his office essentially will not interfere with the public consumption of recreational cannibis, which became legal in Massachusetts as of July 1. Lelling said his office would limit its enforcement activity to out-of-state sales, sales to minors, and organized crime.

As Jason Williams reported, this is big news and signals a huge win for the cannabis industry. “Even staunch opponents like Lelling are bending to the awesome might of this growing juggernaut,” said Wiliams.

Hope is seen on the federal level as well. As The New York Times reported, President Trump recently said he would likely support a bill introduced by Senators Cory Gardner and Elizabeth Warren to leave it up to individual states to legalize marijuana. This view is in “stark contrast” to the tough stance Trump and his administration have taken towards cannabis previously, said the report.

This new bill comes on the heels of a bill introduced by Senator Charles Schumer in April that would decriminalize cannabis on a federal level.

The cannabis industry has been operating under a cloud because of a conflict between federal and state laws. As Inc. reported, if these statutes pass, there could finally be a resolution to the “odd reality” in which selling a joint could land you in jail under federal law and give you a paycheck under state law.

As the maker of the most modern, integrated, and scalable cannabis manufacturing management solution, MaxQ has deep cannabis industry expertise. Contact us to learn more about the latest trends and business solutions in the cannabis manufacturing industry. 


Cannabis Market Goes Ballistic

We knew the cannabis market was hot, but the latest studies show the cannabis industry skyrocketing beyond analysts’ previous expectations. Surprised that legalization and demand are expanding the cannabis market at such an accelerated pace, analysts are scrambling to revise their projections upward.

“While it seems every year means a new monstrous projection about the size of the cannabis market, this year’s projection is especially large,” cannibisnow.com reports.

The latest “State of Legal Marijuana Markets” report by Arcview Group and BDS Analytics, which cannibisnow.com considers the “gold standard of marijuana industry data research,” shows the global legal cannabis industry tripling over the next five years, reaching $32 billion dollars by 2022.

Cowen & Co. sees even bigger growth, raising its estimate of the legal cannabis market by a whopping $25 billion and projecting the cannabis industry will hit $75 billion in sales by 2030. Cowen says that its previous forecast of a total cannabis market of $50 billion by 2026 is no longer valid because “new forecasts suggest that the market is already that size.”

Grand View Research’s recent study sees the global medical marijuana market reaching a value of $55.8 billion by 2025. Over the past few years, the number of companies operating in the cannabis market has increased exponentially, the study says, and the market is expected to expand significantly because of legalization in several countries and the high demand for medical and recreational cannabis.

Legalization Drives Expansion

Even these bullish forecasts pale in comparison with that of European investment bank Bryan, Garnier & Co., which sees the legal global cannabis market poised for growth of more than 1,000% over the next decade, reaching $140 billion by 2027.

Legalization seems to be creating its own momentum, the report says, citing the legalization of cannabis worldwide as the driver behind a “rapidly expanding industry.”

Similarly, Market News Updates reports that the international cannabis industry “continues to blaze red hot” based on the findings of the Brightfield Group, which sees the market growing at a compound annual growth rate of 60% each year and reaching more than $30 billion by 2021. As with other market analysts, the Brightfield Group sees deregulation and increased consumer interest as the driving factors.

Surprising Global Growth

Arcview VP David Abernathy said the most surprising thing contributing to the cannabis market’s accelerated growth this year was the rise of international markets. Arcview analyst Tom Adams agreed, arguing that Germany’s move to make cannabis flower available for medical use in pharmacies was the big news of 2017 from a worldwide perspective. “The tables have turned in favor of legalization across the world,” said Adams.

Grand View Research sees Europe eclipsing North America as the largest market for legal cannabis by the end of its forecast period, with a 55.6% share in 2025. Arcview voiced a similar view, noting that Europe, which has 739 million people and more than $1.5 trillion in healthcare spending, has the potential to be the largest medical cannabis market in the world. South America and Australia also are seen as large burgeoning markets.

As money.cnn.com reports, the game is about to get a lot bigger as more and more North American territories join the legal cannabis market. In California alone, the opening of recreational dispensaries in January boosted the pool of legal marijuana users from 17 million to 47 million.

Analysts see the North American cannabis market accelerating further in 2018 as legal markets begin taking off in Canada, Massachusetts, Florida, and Nevada, with Maine, Vermont, Arkansas, Montana, North Dakota, West Virginia, and very likely New Jersey, Michigan, Oklahoma, and Arizona following suit.

Pot Tops Soda Pop

In sizing up the surging cannabis market, Bloomberg observes that sales of legal marijuana are projected to eclipse those of soda pop in 2030 based on Cowen & Co.’s projection that the U.S. legal cannabis industry will reach $75 billion in sales by 2030.

Comparing cannabis with other commodity markets, a case can be made for the cannabis market being larger than that of corn, cotton, wheat, and coffee based on UN data that valued the illegal cannabis market at more than $140 billion in 2003. The global market for coffee, which is one of the world’s most valuable commodities, is valued at about $100 billion per year.

Follow the Money

Another sign of the cannabis market’s surging value are the steeply climbing valuations of publicly traded cannabis companies like Canopy Growth Corporation, whose stock price has risen from $1 to $24, an increase of 2,081%, over the last two years. As Wealth Daily notes, marijuana is no longer an underground drug pedaled by criminals, rather “a viable industry that’s making investors an absolute fortune.”

As cannabis legalization becomes more widespread and cannabis production increases, the price of cannabis will continue to drop, which will continue to put pressure on manufacturers’ margins. Since 2015, the wholesale price of marijuana has fallen from around $2,100 per pound to $1,600 per pound.

For cannabis manufacturers, competition will intensify as investment dollars pour in and more producers enter the market, causing margins to shrink even further. Besides successful branding, manufacturers will look to gain competitive advantages by employing advanced cultivation technologies and cannabis management systems that streamline operations, control costs, and maximize efficiency.

As the maker of the most modern, integrated, and scalable cannabis manufacturing solution, MaxQ has deep cannabis industry expertise. Contact us to learn more about the latest trends and management solutions in the cannabis manufacturing industry. 


How Do the Different Revenue Recognition Methods in Acumatica Affect Revenue Recognition?

In this series, we answer real-life questions from Acumatica users

QUESTION: How do the different revenue recognition methods in Acumatica affect revenue recognition?

ANSWER:  Recognition methods determine how a deferred revenue or expense amount will be distributed over a defined number of periods. Within Acumatica, you can specify a particular recognition method in the settings of each deferral code on the Deferral Codes form, and can assign a deferral code to a line of an invoice or bill. Revenues can be deferred in a number of ways and over different time periods that you select. Besides choosing a recognition method, you must input the beginning and end dates.

Acumatica enables you to choose the revenue recognition method that best meets your needs. Following are examples of five recognition methods that can be selected within Acumatica ERP, including:

  • Evenly by Periods
  • Evenly by Periods, Prorate by Days
  • Evenly by Days in Period
  • Flexible by Periods, Prorate by Days
  • Flexible by Days in Period

The screen below shows an invoice generated in Acumatica for $7,500 of revenue that is recognized evenly over a five-quarter schedule:

Evenly by Periods

With the Evenly by Periods recognition method, the amount to be recognized is distributed evenly among all included periods. The number of recognition periods is defined by the value you specify in the Occurrences box for the deferral code on the Deferral Codes form.

The screen below shows how you set the Deferral Code for Quarterly Evenly by Periods over a three-period range:

The screen below shows the deferral schedule that is generated:

Evenly by Periods, Prorate by Days

With the Evenly by Periods, Prorate by Days method, the amount to be recognized is distributed evenly among recognition periods (the number of which is defined by the value specified in the Occurrences box on the Deferral Codes form). The first and last periods are counted together as one recognition period and the amount to be recognized for each is proportional to the number of days in each period.

The frequency of occurrences depends on the number of financial periods you select in the Every X Period(s) box. The installment amounts for the first and last periods are calculated based on a full-period amount that is proportional to the number of days each installment should cover.

The screen below shows how you set the Deferral Code for Quarterly Evenly by Periods, Prorate Days over a three-period range:

The screen below shows the deferral schedule that is generated:

Evenly by Days in Period

With the Evenly by Days in Period method, the amount to be recognized is distributed by periods with a proportional division by the number of calendar days in each period. The number of recognition periods is defined by the value specified in the Occurrences box in the deferral code settings on the Deferral Codes form. An occurrence is a recurring recognition event for which a recognition transaction is generated. The frequency of occurrences depends on the number of financial periods you select in the Every X Period(s) box.

The screen below shows how you set the Deferral Code for Quarterly Evenly by Days in Period over a three-period range:

  

The screen below shows the deferral schedule that is generated:

  

 Flexible by Periods, Prorate Days

With the Flexible by Periods, Prorate by Days method, the amount to be recognized is distributed evenly among periods, with a proportional division by days among the first and last periods. The first and the last periods may be less than a full period, depending on the start recognition date and the final recognition date specified in a particular document (such as AR invoice). The number of recognition periods is defined by the recognition dates specified in a document.

The screen below shows how you set the Deferral Code for Flexible by Periods, Prorate Days:

The screen below shows the deferral schedule that is generated:

Flexible by Days in Period

With the Flexible by Days in Period method, the amount to be recognized is distributed among periods, according to the number of calendar days in each particular period. The start date and the final date of the recognition process is specified individually for each line of a particular AR document (such as AR invoice or cash sale).

The screen below shows how you set the Deferral Code for Flexible by Days in Period:

The screen below shows the deferral schedule that is generated:

MaxQ is a provider of advanced Acumatica business solutions across a wide range of applications and industries

Contact us to learn more about how MaxQ for Acumatica solutions can help your business.

 


Innovation Pushes Cannabis Manufacturing to New Heights

Innovation within the cannabis industry is reaching new heights as more and more biotech and pharmaceutical companies enter the fray and the amount of cannabis research and development being conducted accelerates.

Cannabis R&D efforts are yielding creative new products and extraction techniques, as well as new methods of manufacturing aimed at making cannabis plant production easier, faster, and higher yielding.

Radical New Growth and Extraction Systems

Among the most noteworthy new manufacturing innovations are two systems developed by Iaso, called GrowBlox and PhytoX. These systems enable manufacturers to grow cannabis plants indoors at higher speed and without human assistance, and afterwards to extract the valuable ingredients from cannabis plants with greater efficiency and precision.

Traditional indoor growing methods require meticulous care and can take almost a full year to yield a successful crop. According to Iaso, GrowBlox can produce five cannabis harvests per year, which would make it the fastest marijuana propagation system on the market.

Along with GrowBlox, Iaso developed PhytoX as a way to optimize the cannabis extraction process for medical purposes. Touted by Iaso as the world’s first hydrodynamic extraction system, PhytoX freezes and pulverizes cannabis plants to maximize yields and increase potency, converting the entire plant into nano-emulsions that are then centrifuged and distilled.

Benefits of Wet Extraction

According to Iaso, PhytoX can perform extraction on wet or dry cannabis, making it capable of producing concentrate from freshly harvested plants. Extracting from wet cannabis plants retains ingredients that are lost in the dry extraction process. In addition, PhtoX’s use of water for extraction eliminates the needs for other solvents.

By speeding up and optimizing the cannabis growth and extraction process, GrowBlox and PhytoX have the potential to revolutionize the cannabis manufacturing industry. Iaso also produces cultures to optimize cannabis growth and is developing a new drug delivery system to be ready this year.

Better Drug Delivery Systems

A number of leading biotech firms are working to develop new ways to extract the active cannabis ingredients and deliver their medically beneficial effects in ingestible and topical forms. Lexaria Bioscience Corp. focuses its R&D on making cannabis medical compounds more absorbable and easily digestible. Lexaria’s process reduces the time of onset for edible cannabis to 15-20 minutes versus the usual 60-120 minutes, and increases absorption by five to 10 times, in addition to masking the bitter taste of cannabinoids without the need to add sugar.

Earth Science Tech, Inc. focuses its R&D on producing high-purity, high-quality cannabidiol (CBD) oil and infusing it in digestible products that provide medical benefits while not producing a psychoactive high. Earth Science Tech’s products include vitamins, minerals, herbs, botanicals, personal care products, homeopathies, and CBD oil delivered in capsules, tablets, soft gels, liquids, creams, sprays, and powders.

Cannabis Pain Relief Innovators

Several companies based in Colorado and California have established reputations for delivering high-quality cannabis products, including unique and effective methods of making cannabis ingestible for pain relief purposes.

Viola Extracts has become a leading producer of butane hash oil (BHO) products for the medical industry. Extracting the active ingredients of cannabis using butane produces pure and potent concentrates that are productized in a variety of forms and consistencies that include oil, shatter, wax, and live resins.

Another cannabis innovator is Foria, which has received a lot of media attention for its sensual cannabis products for women. For medical uses, Foria provides cannabis suppositories that offer relief from menstrual pain as well as back and hip discomfort. The suppositories provide rapid and long-lasting pain relief.

Colorado-based Binske infuses cannabis in a host of high-quality edible and topical products that can be used as an alternative to smoking. Its edibles include chocolate bars, fruit spreads, granola bars, olive oil, and tinctures of garlic, lemon, and chipotle. Its honey products are produced from local bees and can offer pain relief by being ingested in tea. Its topicals include bath salts, body lotion, and massage oils.

Another Colorado-based company providing quality medical cannabis products is Altitude Organic. Its line of edibles includes organic treats such as assorted fruit and brownie bars, as well as organic fruit gummy candies. It also sells an extra strength pain spray called Apothecanna.

All these standout ventures show how the legalization of cannabis, along with its many medical benefits, is causing an increasingly more diverse and sophisticated set of products to be developed, as well as inventive manufacturing techniques. Expect to see further innovation as more and more companies devote their attention to cannabis R&D and as legalized cannabis spreads to ever more states and territories.

As the maker of the most modern, integrated, and scalable cannabis manufacturing management solution, MaxQ has deep cannabis industry expertise. Contact us to learn more about the latest trends and business solutions in the cannabis manufacturing industry. 

 


New Bill to Legalize Cannabis Nationally Would Be a Game Changer

Legalizing cannabis in the United States nationally would have a dramatic and far-reaching effect on the cannabis industry, which has been living under the shadow of federal laws that make cannabis an illegal substance. It looks now that nationwide legalization could happen sooner than expected because of New York Senator Chuck Schumer’s introduction of a bill to decriminalize marijuana.

Said Schumer: “My thinking, as well as the general population’s views on the issue, has evolved, and so I believe there’s no better time than the present to get this done. It’s simply the right thing to do.”

State and Federal Laws at Odds

Although an increasing number of states have been making medical and recreational cannabis legal, the growth of the cannabis manufacturing industry has been inhibited by the Trump administration’s pledges to enforce federal restrictions.

Potential investors have been sitting on the sidelines because of fear that the federal government might take aggressive action to close down the recreational use of cannabis. The muddled legal climate also has prevented many banks from providing accounts to cannabis industry operators.

Under the new bill, these sanctions would be lifted and it would be left up to individual states how to regulate marijuana. The federal government’s role would be policing cannabis trafficking from states that have legalized the drug to those that have not, as well as regulating marijuana advertising to prevent children from being targeted.

Investment Floodgates Would Open

If Schumer’s bill becomes law, marijuana would be removed from the list of substances classified under the Controlled Substances Act. For the world of cannabis manufacturing, this could unleash a torrent of pent-up development dollars and energy.

Even under the current legal cloud, the cannabis industry is on track to become a $31 billion empire worldwide by the coming decade. In the United States, the cannabis manufacturing sector is projected to create 300,000 jobs by 2020.

National legalization of cannabis would inflate these numbers as a host of states now hesitant to legalize cannabis join the legalization ranks. As Forbes reported, numerous states are on the cusp of introducing legislation to make cannabis legal on a recreational or medicinal basis, including New Jersey, Michigan, Oklahoma, Utah, Missouri, Virginia, and Ohio. If the federal barriers were removed, many more states would fall in line.

As the maker of the most modern, integrated, and scalable cannabis manufacturing management solution, MaxQ has deep cannabis industry expertise. Contact us to learn more about the latest trends and business solutions in the cannabis manufacturing industry. 


Cannabis Manufacturing: Scaling Up and Getting Industrial

As the cannabis industry continues to expand, cannabis production centers inevitably will follow the path of other major industries and become large-scale operations. The new Liberty Health Sciences venture in Florida gives us a sense of what we can expect to see over the next few years as more big businesses embrace cannabis manufacturing.

Medical marijuana became legal in Florida in 2016. In January, Liberty Health Sciences out of Toronto purchased 242 Cannabisa 387-acre parcel with 200,000 square feet of greenhouses and processing facilities in Florida’s Alachua County, near Gainesville, for about $30.5 million. The 242 Cannabis operation is a subsidiary of medical cannabis company 242 Cannabis Canada.  

After a retrofit, the operation is going to include a new 16,000-square-foot processing area in which the company will be able to extract and refine cannabis oils, including adding a kitchen to make edibles. The facility also will produce vaporizer products, some of which will include preloaded disposable pens, cartridges, and pods.

Ramping Up Cannabis Manufacturing

Called the Liberty 360-degree Innovation Campus, the facility at full capacity will employ about 150 workers, including chemists, biologists, horticulturists, and customer service representatives. Liberty aims to speed up the process of producing medical cannabis, as well as to bring to market a number of innovative new products.

The plan is to produce 27,000 pounds of medical cannabis per year, which would be a large spike vs. the yields being grown in other states. After the cannabis plants are grown, Liberty aims to produce most of its products in about eight weeks, which will increase its ability to put out products and generate revenues.

Innovative Products in the Works

To widen the appeal of medical marijuana, Liberty plans to produce softgels, transdermal applications, and beverages. Although each of these products has been the focus of development and marketing efforts of other cannabis distributors, they have not yet achieved the popularity of other medical cannabis products.

For more precise dosing, softgels could become a popular cannabis product in Florida and beyond, particularly for aging populations with a variety of illnesses. Softgels are known for bringing longer relief from pain and other ailments.

Transdermal (or topical) applications also are likely to become popular because they make medical cannabis easier to ingest without having to light up. Considering much of the aging population cannot smoke marijuana without health concerns, topical solutions could quickly become a popular means of ingestion.

Cannabis beverages offer similar benefits. While a number of cannabis beverages are now available, they have not yet become mainstream products.

What Lies Ahead for Cannabis Manufacturing in Florida and Beyond

Liberty Health is part of a new wave of big businesses that are industrializing cannabis production. A spokeswoman for Liberty Health Sciences said its current operation is valued at $327 million.

Last year, Liberty bought and took full ownership of another Alachua County medical cannabis operation, Chestnut Hill Tree Farm’s Medical Marijuana Treatment Center, for about $40 million.

Liberty’s dispensaries will be called Cannabis Education Centers, the company said, because the industry is new and patients need to be educated about what they are using as an alternative to traditional medicines.

Liberty Health Sciences opened its inaugural dispensary in The Villages, a retirement community, in January, and has plans to open five more outlets in Florida this year — in south Tampa, Fort Myers, Fort Lauderdale, St. Petersburg, and Port St. Lucie.

Pundits have been predicting that the lucrative opportunity opened up by the legalization of cannabis would lure big business to embrace cannabis manufacturing. The international market for cannabis is projected to increase from $7.7 billion today to $31.4 billion by 2021, according to the Brightfield Groupa cannabismarket research firm. The U.S. currently accounts for 90 percent of global cannabis sales, but its share is expected to drop to 57 percent by 2021, in large part because of Canada’s plans to legalize recreational marijuana by July 2018.

As the maker of the most modern, integrated, and scalable cannabis manufacturing management solution, MaxQ has deep cannabis industry expertise. Contact us to learn more about the latest trends and business solutions in the cannabis manufacturing industry. 


Generic Inquiry Changes in Acumatica 5.3 explained

Generic Inquiry Changes in Acumatica 5.3 explained

In Acumatica version 5.3 you may have noticed some mysterious warnings appearing on your generic inquiries. I could not find any documentation on why this started showing up. After a little digging this is what I discovered.

Problem

Let’s start with a simple test generic query.

Just use the SOOrder table

1

On the Results Grid add OrderNBR and CustomerID_Description and you will see the warning.

2

Generic Inquiry has automatically joined to the BAccount table to get the Account Name (customerID_Description – BAccount.AcctName) to be displayed.

Acumatica created the following SQL Statement to retrieve the SOOrder records. Not so easy to understand, lots of things going on.

SELECT TOP (33)  [SOHeader].[OrderType] [SOHeader_OrderType],  [SOHeader].[OrderNbr] [SOHeader_OrderNbr],  [SOHeader].[CustomerID] [SOHeader_CustomerID],  [SOHeader].[NoteID] [SOHeader_NoteID],  (SELECT TOP (1) [NoteText] FROM [dbo].[Note]  WHERE ([dbo].[Note].CompanyID IN (1, 7) AND 32 = SUBSTRING([dbo].[Note].CompanyMask, 2, 1) & 32) AND [Note].[NoteId] = [SOHeader].[NoteID]) [SOHeader_NoteText],  (SELECT TOP (1) COUNT(*) FROM [dbo].[NoteDoc]  WHERE ([dbo].[NoteDoc].CompanyID IN (1, 7) AND 32 = SUBSTRING([dbo].[NoteDoc].CompanyMask, 2, 1) & 32) AND [NoteDoc].[NoteId] = [SOHeader].[NoteID]) [SOHeader_NoteFiles],  [SOHeader].[CuryID] [SOHeader_CuryID],  [SOHeader].[CuryInfoID] [SOHeader_CuryInfoID] FROM SOOrder [SOHeader]  WHERE ([SOHeader].CompanyID = 7) AND ([SOHeader].BranchID IS NULL OR [SOHeader].BranchID IN (5, 6, 10, 11, 12, 13)) ORDER BY  [SOHeader].[OrderType] ASC,  [SOHeader].[OrderNbr] ASC OPTION(OPTIMIZE FOR UNKNOWN) /* 00.00.00.00 */

To simplify, we can manually create a simplified SQL statement that will provide what we need to see to understand what is Generic Inquiry is doing.

First it returns all of the SOOrder header records.

Select OrderNbr, CustomerID From SOOrder Where CompanyID = 7 Order By SOOrder.OrderNbr

3

Next, it then loops through each of the customer ids and retrieves the AcctName. It caches the results so that for each name it only does the BAccount look up once.

Select AcctName From BAccount Where BAccountID = 2470 And CompanyID = 7

From BAccount Where BAccountID = 260 And CompanyID = 7

Select AcctName From BAccount Where BAccountID = 262 And CompanyID = 7

Example of this in SQL

4

With bigger record sets this can get very inefficient.

Solution

So how do we improve the performance and get rid of the warning. Easy!

We add the BAccount table to the Tables tab on the generic inquiry.

5

Create the relations between the Tables  (join).

6

Replace the default customerID_Description with AcctName from the BAccount Table and warning disappears.

7

Now when Acumatica executes the query it runs the equivalent of:

Select SOOrder.OrderNbr, BAccount.AcctName

From SOOrder Inner Join BAccount On SOOrder.CompanyID = BAccount.CompanyID

And SOOrder.CustomerID = BAccount.BAccountID

Where SOOrder.CompanyID = 7

Order By SOOrder.OrderNbr

A much more efficient SQL query. Mystery solved.


Distribution Software Features You Need to Get Ahead

Distribution

To stay competitive in today’s distribution market, it’s almost a given that you’re going to have to use modern software and process automation. This is especially the case if you have a small operation and operate in multiple channels. Tools such as distribution software can specifically help your business successfully compete with larger ones. Here are some features to look for inside of distribution software to remain competitive in your day-to-day operations.

Integration with e-commerce Services

If you run a business that handles multiple different distribution channels, one feature that you absolutely need to have is integration with your e-commerce services such as your on-line stores, eBay and/or Amazon.

The important thing is to try to ensure that any item purchased online through any of your online stores is properly recorded in your ERP software. This is why integration is a such a necessary feature. A one-click solution to integration in a disparate number of online storefronts is exactly what you need to process your orders efficiently. With integrated systems, your inventory and orders can be maintained in one master locations and won’t need to input all of your information twice. The automation will take care of it for you allowing for quicker response to your customers and a complete view of all your sales operation statuses in one system.

Point of Sale Options

Another useful feature to use in areas where it’s applicable is the point of sale integration. Integration will be particularly salient if you have a brick and mortar operation, or if any aspect of your business has you selling to your customer in-person at any time. This could even work for much smaller operations. Integrated point of sale systems with distribution and inventory systems is of particular importance to such operations. Again, you really don’t want to have to input the same thing multiple times. Additionally, inventory allocation and updating can be handled automatically in these cases as well.

Another aspect of this that’s important is the fact that having point of sale integration with distribution services is critical if you have multiple sales happening across different mediums all simultaneously. So, if you have an online portal and a brick and mortar location that are both processing sales at the same time, having an integrative software tool that can handle this kind of multi-channel point of sale approach is an absolute necessity in order to make sure that you’re properly keeping track of the distribution process

 

Multi-Location Integration

Once again, this is a feature that will matter more depending on how large your operation is and how many physical warehouse locations you have. Stocking the right amount in the right location is always a complicated issue. This can be solved by using the right combination of demand planning and distribution requirements planning software. These software solutions will help you determine the what, when and how much to replenish your inventory at the most optimal levels.

Supply Monitoring

Having a systematic way to order, monitor and expedite supplier orders is also a necessity. By automating standard supply chain order process, planners and buyers will be allowed to focus on the exceptions and better buying deals. It is important that accurate lead time be maintained at all times.

Mobile Compatibility

To make sure that you fit your customers and employee expectations, compatibility with mobile platforms is often a must. This includes smartphones and tablets. IBM reported in February 2016 that almost half of all online traffic for this year Valentines’ Day season was done on mobile devices. Without mobile support you would miss out on almost half of your potential customer orders, can you afford that?

For more information about distribution software services, please contact us today.