It is not a secret that the cannabis industry is a currently booming and rapidly growing sector. In America’s 2020 election, marijuana was a big topic, and there is sure to be a rise in legalization across the country. Currently, medical marijuana is legal in 34 states and recreational marijuana has been legalized in 15 states. For business-minded entrepreneurs, the cannabis industry seems like a sure bet and many are trying to break into this growing industry.
Learn the differences between cannabis concentrates, oils, and extracts as well as which one is the best to consider.
As cannabis continues to grow in popularity, consumers are becoming more conscious and receptive to the plant's other medicinal properties. More specifically, people have become enthralled with CBD. At the time of this post, CBD is legally accessible in all 50 states. This has allowed new forms of CBD to become accessible. Companies are now providing Broad Spectrum CBD, Isolates, and Full Spectrum CBD; But what exactly do these terms mean?
Vendor Managed Inventory, or VMI, is a business relationship where a manufacturer or distribution business takes over management of inventory for a retail or wholesaler. Using Electronic Data Interchange (EDI) or other electronic methods for communication, the vendor of the product will manage orders and fulfillment for those further down the distribution chain.
The fear of a supply chain disaster destroying years, even decades, of hard-earned company growth is enough to keep managers up at night -- and for good reason: the smoking ruins of once-thriving companies have littered history, and fatal SCM mistakes have often been the culprit.
Many customers discover too late that the system they chose fails to provide features and functions that are critical to their businesses. Even in subscription management systems that are rated highly by analysts, you will find case after case of customers describing weak and missing features in their reviews of the systems.
When prospects ask why we chose to build our MaxQ solutions on the Acumatica platform, we cite Acumatica's modern cloud-based design, integrated architecture, rich feature set, user-friendly interface, and more. All these capabilities and more were highlighted at the recent Acumatica Partner Summit, including enhancements made in 2018 that made the Acumatica ERP an even stronger platform.
A bevy of new territories began selling legal cannabis in 2018, including Canada, Massachusetts, Maryland, Ohio, and Oklahoma. How well these new markets are faring gives us a sense of the strength of the cannabis market and how closely actual results are meeting expectations.