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Food and Beverages | Friday, January 28, 2022
The majority of enterprise cannabis business executives are already investing in cutting-edge technologies to promote business growth and preserve their competitive edge, as technology plays a vital part in assisting operators in keeping their commitments of sustainability
Fremont, CA: Cannabis businesses that invest in operating sustainability will gain major competitive benefits as consumers' purchasing patterns, and investors' decisions become more influenced by sustainable and ethical business practices. Cannabis businesses may use technology to improve their environmental, social, and governance (ESG) performance as well as their bottom line by welcoming the digital transformation.
Technologies bringing sustainability to the cannabis industry
For digital transformation ideas, the cannabis business has looked to related, parallel industries. Following the lead of traditional agriculture and food/beverage industries, skilled cannabis operators are adopting new technologies such as RFID, environmental controls, and business management software to establish a digital ecosystem that supports sustainability and profitability.
RFID and Barcoding
The use of RFID and barcoding in plants and packaging substantially removes pen and paper, manual data entry, and human error. This is crucial for improving efficiency across the entire supply chain.
Making investments in an environmental control system that can not only automate the environment but also offer programs that can act as per the needs of the plants and even predict specific events such as watering or feeding cycles can significantly decrease costs and waste linked to staff, lighting, water usage, waste, and more.
Business management software
Software, specifically cannabis ERP software, might be the most valuable asset for many cannabis firms. ERP is often the fundamental nervous system of cannabis operators, combining traceability, compliance, and basic operational processes with the potential to integrate other technology (RFID, barcoding, environmental controls, warehousing, and so forth) for a full data set in one solution.
While these are only a few instances of technology that can help with sustainability, in this age of digital transformation, there are dozens more technologies that can help with supply chain transparency. Operators may use existing traceability technology to turn mandated compliance requirements into benchmarking data and realize efficiencies, enhance sustainability, and boost bottom lines.