The Future of Cannabis Supply Chains in the United States

3/22/2020

Cannabis Retailers Endure Coronavirus

The U.S. cannabis industry is maintaining its stability amidst the coronavirus pandemic. Dispensary retailers have been deemed essential businesses in a variety of states along both coasts of country. Recent trends show cannabis dispensary sales skyrocketing to sustained rates comparable to sales on 420 or Valentine’s Day.

The cannabis retail subsector is prevailing the storm of the outbreak— but what about the rest of the supply chain? In an age of self-quarantining, limited economies, and prohibited travel, our industry requires supply chain solutions that can endure unprecedented change.

The Risks of An Impacted Supply Chain

The impact of coronavirus on the supply chain is affecting the cannabis retail sector. Notably, many dispensaries are having trouble ordering ancillary products for facility sanitation and employee health protections. This problem must be attended to in order for cannabis retailers to maintain their status as essential businesses.

If dispensaries become sites of viral outbreak, policy may be adjusted to revoke operational capacities. Similarly, if retailers do not have access to diverse portfolios of sanitation-oriented ancillary services, avenues of supply could be expunged and resources would be slim. Essentially, retailers need immediate access to all-encompassing digital networks of cannabis businesses.

The Value of A Digital Cannabis Marketplace

An all-inclusive digital cannabis business network holds significant value beyond the immediate needs of the industry’s retail sector. Supply chain connectivity ensures retailers an expansive selection of distributors and products. For example, flower—which is currently flying off the shelves— could be sourced from a variety of cultivators. Dispensaries could accommodate for local product demands in their region.

Great connectivity fortifies the cannabis economy beyond the retailer sub-sector A digital supply chain solution enables industry personnel to forgo travels to inspect equipment or inventory. This method accommodates for social-distancing while still allowing cannabis business professionals to trade as if they were entering a facility. The immediate access to diverse businesses, compounded with health-complaint standards would secure the cannabis economy.

A Cannabis Marketplace Solution Is Already Here

The good news is that there’s already a solution that realizes a secure future for the entire cannabis marketplace. Our company Outspoke is on the cusp of rereleasing its latest version: a METRC-compliant online platform that is abundant with licensed businesses across the supply chain. Outspoke comes complete with a digital market place for listings that’s sync directly with your METRC information. The best part is that any business can use it totally for free!

Keep in touch with us for upcoming announcements on the release. We’ll be planning a webinar demo event and releasing more information about the new version of Outspoke in the upcoming days.

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