With the legalization of cannabis across a number of US States, and a number of key countries globally, the cannabis industry is commercializing. Dynamics 365 Business Central for Cannabis is here to help.
Dynamics 365 BC is leading the way with the systems that will help to develop this bourgeoning industry.
The cannabis market
The cannabis market is a new agricultural niche that operates with its differences, however it has similar requirements and the fundamentals operate in the same way.
There have been several Dynamics 365 BC Partners operating in the US who have been quick to rise to the challenge of producing systems using the Dynamics 365 tools to support the growth and sale lifecycles that are necessary to support the expansion of a rapidly expanding industry.
Partners who have developed Dynamics to fit the cannabis market include:
Silverware Solutions: https://www.silverw.com/
365 Cannabis: https://www.365cannabis.com
Inecta: https://www.inecta.com/
The complexities of this new market
According to Jeff Kiehn, 365 Cannabis’ CEO of the Americas, an enterprise-grade solution is required because of some of the complexities of this new market. Those complexities include:
- As a new industry, its growers and producers are largely new. Growers who are used to growing fruit and veg in their greenhouse are having to learn something new. This lack of experience with the product makes for an exciting learning curve.
- Allowable form-factors vary by state and country.
- This means that there will be different numbers of SKU depending on different regions. For example, Colorado allows for practically any cannabis-based product to be sold from a dispensary while most other states only allow dry cannabis to be sold.
- Supply chain regulations vary widely by state and country. As a product, cannabis borders on the pharmaceutical and therefore requires a decent amount of traceability in most regions, with each plant having its own unique identifier. Reports must be issued if product goes missing or is destroyed.
- Purchase options run the gamut from online-only to cash-only. There are a broad range of payment options for customers and this makes transactions difficult to track. Health Canada customers can only purchase cannabis products Bia ecommerce via credit card payment, for example.
- Producers must reproduce their infrastructure state-by-state. In other words, product has to be grown and sold in the same state.
To cope with these complexities and cannabis’s huge rise in popularity as a commercial product, Dynamics 365 Cannabis is designed to manage each stage of the business and supply chain. This includes, growth, production, sale and accounting. For more information, click here.
By all accounts, that industry is set to continue expanding, so it is excellent to see partners’ early solutions. If you’d like to speak to a professional regarding your next cannabis-related project for Dynamics 365 Business Central for Cannabis, talk to a member of our US-based team here.