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. 


Power BI Gives Businesses Super Powers

Since Microsoft’s Power BI launched as part of Office 365 in July 2013, it has evolved at a rapid pace and blossomed into a full-blown feature-rich modern business intelligence tool.

In July 2015, Power BI had 45,000 users worldwide. Today that number has grown to more than 5 million users.

What makes Power BI such a compelling business tool is a combination of strong data visualization capabilities, ease of use, and affordability (starting at free, with a Pro version priced at $10 per user per month). Moreover, Power BI can be accessed from the cloud, run as a desktop app, embedded in applications, integrated with other business planning tools, and optimized for mobile devices.

BI Barriers Fall

Years ago, obtaining the capabilities that Power BI provides required complex and expensive systems that had to be implemented by specially trained data scientists. A data scientist would develop a design concept and hope it would deliver the results you desired. Because of the cost, complexity, and specialized skill requirements, only the largest enterprises with the deepest pockets could afford these types of BI systems.

Power BI has changed the game, enabling small and midsize organizations to perform analyses and visualize data in ways that previously were prohibitively complex and expensive. Rather than the long development periods required to build these systems in the past (often weeks, months, and years), users can get accurate and actionable results in only a few hours. Moreover, real-time updates can be used to enable business managers to leverage a continual flow of insights.

Seeing how Power BI has been deployed by real-life companies shows the benefits that can be gained, as well as the ease and speed with which a Power BI application can be set up and immediately begin delivering useful insights.

Real-Time Insights Pay Dividends

Pizza Express in the UK was able to gain real-time insights and improve its business operations by deploying Power BI. As part of its strategy to expand worldwide, the company migrated all its data to the Azure cloud, created a data warehouse, and began using the data to make decisions based on its customers’ preferences.

Real-time monitoring comes from a tool called Event Stream that was built using Microsoft Event Hub and Data Factory. Besides giving managers an up-to-the-minute view of the business, it allows Pizza Express to track customer activity and make personalized offers. While in the past, building a tool like this would have been complex and time-consuming, Pizza Express was able to set it quickly using ready-made Microsoft tools.

Power BI has enabled Pizza Express to aggregate sales, customer, and operational data that used to reside in different places. The system enables the management team to combine all its key performance indicators (KPIs) to gain a comprehensive look at the company’s sales data, customer preferences, and profitability. Thirty regional managers can access the performance data on mobile devices to view results by region, area, and individual restaurant.

As Pizza Express IT director Siobhan Fagan noted, having precise information on demand means the company can be agile, decisive, and respond much better to its customers.

Better Management Through Power BI

The use of Power BI by Howell-Jones, a law firm in the UK, shows how not only law firms, but many types of agencies, can benefit from Power BI. As Howell-Jones operations director Chris Cato notes, personalized dashboards with complex data could be spun up in minutes by non-IT staff to deliver insights throughout the firm. Team leaders could use Power BI to manage caseloads across entire teams, distributing work to maximize collective output.

The Howell-Jones management team was able to generate high-level visual reports that were updated in real-time, which they could drill down into to analyze all aspects of the business, such as lawyer’s workloads, fees vs. targets, billable hours vs. targets, time from enquiry to billing, cross-department work referrals, and more. In addition, financial insights that previously were available exclusively to the management team could be surfaced and shared around the business.

The marketing team could see real-time inquiries and divert spending to take advantage of opportunities as they arose. The marketers also could drill into the data to refine their strategy based on the results of individual campaigns, how initiatives converted to new clients, and the lifetime value of marketing investments.

New Doors Open  

As these case studies show, Power BI is a game changer, making possible analyses and visualizations that had previously been too difficult and too expensive for most businesses. While the examples above involve the hospitality and legal sectors, the same techniques can be applied to any type of business to realize similar benefits.

We’ll continue looking at how Power BI is unlocking new possibilities across various industries in future posts.

MaxQ Technologies provides state-of-the-art Power BI solutions and incorporates Power BI within advanced business solution suites. Contact us to learn more about Power BI and how your business could benefit from a Power BI solution.

 

 


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. 


Cannabis Packaging Gets Sophisticated

As cannabis products and user tastes become more sophisticated,  cannabis package design is following suit. With exotic names and novel products now an integral part of cannabis manufacturers’ retail and marketing strategies, creative packaging has become a way for producers to distinguish their brands.

The packages seen in dispensaries today are a far cry from the plastic sandwich bags that were the common way of distributing marijuana in the days before cannabis became legalized. Legalization also has brought new laws that define what is required and what is disallowed in cannabis packaging.

Childproof Protection

Twenty-four states have introduced laws governing the packaging of cannabis products. While their guidelines may differ, a common factor across all the states’ laws is the requirement that cannabis packaging be tamper-proof and child-resistant. The laws also aim to prevent children from gaining access to cannabis products because of improper labeling and packaging.

The laws prohibit names and imagery on the packaging of cannabis products that would mislead children into thinking the products were intended for children. In Oregon, for example, the state’s Liquor and Control Commission (OLCC) ruled that “kid-friendly” names like “Girl Scout Cookies,” “Candyland,” “Cinderella 99,” and “Charlotte’s Web” were prohibited.

Double Standard

However, as Allie Beckett on marijuana.com points out, these naming prohibitions do not apply to alcohol, a more dangerous substance for which there are numerous childlike brand names on the market, such as “Hello Kitty.” The underlying aim of the cannabis naming laws, she suggests, could be to restrict cannabis producers from using the international trademarks of giant corporations like Disney.

Another requirement among seven states that have legalized cannabis (Alaska, Colorado, Hawaii, Maryland, Massachusetts, New Mexico, and Oregon) is that cannabis packaging must be opaque, with the product unable to be seen until the container is opened. Here too, cannabis is being restricted in ways alcohol is not. Being able to see a cannabis bud’s color and texture is part of its allure, just as a liquor’s color is part of its attraction for consumers.

Creative New Designs

Despite the restrictions, innovative packaging designs are emerging as more top-tier professional package designers get involved. Award-winning designer Edward Kilduff has fielded the Pollen Gear line of cannabis containers that includes glass jars, plastic rectangles, and zipper pouches.

Kilduff said he came up with the idea for his line of marijuana packaging after he learned that many people were using his EVAK coffee container to store their marijuana. What people were looking for were containers that were airtight and childproof. He said he researched the cannabis package design space and found that “there were not any design guys who were creating solutions.”

Elegant and Artistic Designs

Another firm that has developed a distinctive styling for its cannabis brands is Canndescent, which has introduced packaging to match what it calls its “ultra-premium” product line. A guiding principle in the design was to create a clean look that would be less intimidating to new cannabis buyers and attractive enough to entice experienced connoisseurs.

Also taking an artistic approach to cannabis packaging is the 1964 Supply Co., which recruits world-renowned artists to visualize the company’s line of cannabis products that are crafted to provide “a selection of strains to suit every mood.”  The artists supply packaging imagery for products with colorful names like Train Wreck, Super Silver Haze, Blue Dream, and Strawberry Diesel.

Tuna-Style Cans Seal in Freshness

Another cannabis packaging trend that is gaining popularity is the tuna-style can. This type of packaging hermetically seals the cannabis product in nitrogen after removing the oxygen. Oxygen and light are enemies to preserving the freshness of cannabis, and oxidation will degrade the plant material and cause mold, yeast, and other potentially harmful bacteria to form.

Although the tuna-style method has been used in the food industry for many years, only recently have companies like West Coast Cure and N2 Packaging Systems begun to apply it to cannabis packaging. As N2 Packaging Systems CEO Scott Martin points out, preserving the freshness of cannabis in this manner is probably more of an asset to larger-scale producers that want to keep their product consistent as supply ramps up. That way, he noted, the consumer always experiences the product as fresh as the day it was packaged.

Environmentally Friendly Packaging

With marijuana being so closely associated with the social consciousness of the ‘60s, it is no surprise to see the green movement informing the packaging of cannabis. Reusable and biodegradable packaging is becoming more popular not only because of its environmental friendliness, but to save money as well.

Among the packaging companies providing eco-friendly cannabis packaging, Sun Grown Packaging boasts of being the first to file a patent for a recyclable, compostable, child-resistant cannabis package. A cannabis grower that exemplifies the concept of responsible farming is Lowell Herb Co., which has fully embraced the philosophy of organically grown cannabis and all-natural packaging materials.

As we can see, cannabis product packaging has taken a big leap beyond the rudimentary packaging of the counterculture days. As cannabis consumption and manufacturing continue to expand exponentially, we can expect to see a similar rise in the innovation and artistry that is transforming the packaging of cannabis products.

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. 

 


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. 


The Worst Advice We’ve Ever Heard About Demand Planning

It is no secret that demand planning is a process that many businesses go through to remain successful. It allows for the creation of forecasts that will help the business manage their inventory levels. This is beneficial because the business can then use this information to align their inventory levels along with the fluctuation of demand that is placed on a particular product.

Because it is so important, there are multiple strategies that businesses can rely on when it comes to demand planning. As with all other types of strategies, some are better than others. There are also those strategies out there that wind up working against the company instead of for them. When you are choosing your strategy, be sure to avoid these instances of bad advice.

You should use one Strategy for all your Products

There are actually several factors that go into deciding the best strategy to use for any given product. Business leaders should examine things like geographical location as well as the industry in general. While this information may be consistent between some products a company offers, there are also times when each product should be treated individually.

Trying to place all your products into a one size fits all kind of model is dangerous and will not provide the right type of information that is truly valuable. Instead, you should always look at your products individually in order to determine what the true demand for the product will be in the near future.

You should think of Demand Planning as if it were a Program

This is a trap that many businesses fall into. Oftentimes, we tend to look towards the future and wish that we could speed to success instead of going through the process. This is the same issue in some companies that are looking to implement demand planning. They are focused on getting it up and running quickly.

Instead of taking this approach, it is always best to focus on creating a demand planning project that is ran well. While we all want to begin being successful quickly, demand planning is something that should take some time to implement. It is not a program that has certain steps that you must follow in order to be completed. Take the necessary time to carefully analyze the information that you are receiving so that you can gain the best amount of quality data. This will allow you to make the best decisions in regard to your inventory.

If you Plan correctly, you won’t have Surprises

Planning is an important part of the entire process. But, no matter how well you do plan, there will always be something that occurs unexpectedly. To help balance this, you should always have a backup or contingency plan. The most important thing to remember is that there will be surprises and that you must plan for every scenario possible.

In order to plan for surprises, always make sure that you are in a position that makes you flexible. For example, you may find that you need to have a plan to find alternate materials than what you normally use to create your products. Having this plan in place and being able to execute it quickly can help you to manage the times when supplies are out of stock or limited from your traditional supplier.

Don’t Put your Faith in Statistics

Statistics aren’t really all that exciting. However, they definitely have their place in the business industry. In fact, most businesses out there aren’t really using statistics to the best of their ability. Instead, they simply glance at the numbers and carrying on with their daily lives.

Statistics are very powerful. Businesses who have the ability to drive the company towards improvement are those that are the most profitable and successful. Also, when you rely on statistics to make changes to your demand planning strategy, you will find that it is extremely easy to measure the value that is added from your changes. So, along with your forecast information, be sure to review statistics that are related to your industry and your products when making changes to your strategy.

Your Plan should be complicated in order to provide the most Value

Some mistakenly believe that in order for something to work the best way that it must be complicated. This couldn’t be further from the truth. In fact, demand planning will work much more efficiently if you are able to keep your processes and strategies simple.

The most important thing with any demand planning process is that the strategy that you choose is geared towards your specific company. Take a look at the amount of support that you will need as well as the amount of information that is already available. You can then choose a strategy that will help work with your company in the best capacity.

Focus on only one Product at a Time

It is true that you should look at each product individually. However, it is also true that you should focus on all your products rather than just one or a handful of your most popular items. You never really know what you are missing with other products when you choose to rely on this method. When a company only focuses on certain products, they may find that their success is not as great as they had expected.

Instead, you should take more of a 360 approach when it comes to demand planning. Look at the various elements of your entire business and look for changes that you can make to improve each of them. Some companies have found that by making some simple changes with some of their lesser performing products that they were able to greatly improve the success of the entire company.

Final Thoughts

Demand planning is critical for companies that are looking to create historical sales information. With this type of information, forecasts can be created that reflect the company’s customers as well as statistical information about the company as a whole. This information can then be used to collaborate with the customers in order to create products that will appeal to them and that will be available when demand is high.

There are plenty of things that a business can do incorrectly when it comes to demand planning. For this reason, it is always best to rely on a specialist to help with the goals that your company has in place. Choosing a partner for this venture is something that you should consider if you are looking to truly gain control over your inventory and the demand for that inventory.

When choosing a company to help you with this mission, be sure to choose one that has experience within your industry. You should also look for a company that takes the time to learn about your company and what is most important to you. This type of company will be the best option when it comes to receiving the value that you deserve to receive.

To learn more about MaxQ and what we have to offer to our customers, be sure to contact us. With our solutions, you will find that your business is able to receive all the information that it needs to rise to the top.

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Three reasons not to ignore professional services software

Three reasons not to ignore professional services software

Professional Services Software

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In the professional services software industry, your assets are not in nuts and bolts, but in ideas, inspiration, and relationships. Consulting and legal firms are in high demand, and need a unique perspective on customer satisfaction and project management. Their customers are looking for tangible ROI while employees are wondering about the next step.

More and more firms in the professional services industry are turning to software to manage and measure their company’s operations. But how can a software program measure that which is, essentially, intangible? And will your firm see ROI on the investment?

You may be tempted to let professional services software go; it’s too much trouble or maybe it seems like there is too little to be gained. Trust us, we have three big reasons why you shouldn’t ignore this trend.

 

  1. The first big reason to employ professional services software is to stay within budget. A robust and scalable software will handle all expenses from business meetings and travel expenses to materials and contractor billing. If your firm is doing this all manually, the biggest waste is time consumed in shuffling papers. Small mistakes such as overdue or unpaid bills will quickly put you over budget.
  2. Project delays cost time, money and face-value. Clients are less likely to stay with a firm that breaks a contract due to any “unforeseeable circumstances.” What you need from day one is a software program that will keep your project on track. Timely project completion keeps your clients happy and loyal. A professional services software will analyze all the data and requirements associated with a project and produce realistic timelines and milestones. When one stage is completed before or after a deadline, the entire project is re-scaled to account for this variable.
  3. Maximize employee accountability and productivity. With an all-encompassing software your employees have access to relevant information and are responsible for reporting progress each step of the way. Management is able to view expense sheets, plan details and recommend tactics based on quantifiable progress.

Don’t miss out on the next contract because your firm can’t handle it. Trust your next big deal to a reliable and robust professional services software. To talk more about this, or anything else, please contact us. Thanks.