Anticipating Supply Chain Issues In The Emerging International Cannabis Industry
The rise of the legal cannabis industry is interesting in many ways and full of excitement. However, the emergence of the legal cannabis industry has also resulted in a lot of growing pains, especially at the international level.
When any industry scales to an international level there will be hurdles, and that is particularly true for the cannabis industry. Supply and demand is typically the main factor at play for most industries, yet, with the cannabis industry, there are additional layers involved.
Cannabis is still prohibited at the international level via various treaties and agreements between nations, and many countries still cling to complete prohibition. Simultaneously, there is a growing list of countries that permit the cannabis industry to legally operate within their borders and/or allow cannabis imports and exports.
Add to all of that a heavy dose of shifting and often conflicting national-level regulations and it becomes obvious why it is a very tricky task to try to scale a cannabis business to an international level.
Supply Chain Issues
One part of the cannabis industry that is particularly headache-inducing is anything dealing with supply chain issues. It is well-known that the pandemic has caused shortages of various things due to production being halted and shipments being delayed around the globe.
The emerging cannabis industry is particularly affected by supply chain issues due to the rate at which the industry is growing in size. Packaging, technology, cultivation equipment – the international cannabis industry requires a significant amount of inputs and any hiccup in the supply chain inhibits growth.
Supply chain issues are further exacerbated by differing industry regulations. Cannabis products are regulated more than almost any other product on earth, requiring specific packaging and labeling and other mandated requirements.
International cannabis companies often need unique packaging for every country/market that they operate in, with labeling that displays specific testing requirements via labs that use government-mandated testing equipment. It only takes one snag in the process at any point to put the entire process in peril.
Navigating the cannabis industry supply chain labyrinth is no easy task, especially considering that rules and regulations are constantly changing with no end to that trend in sight. Setting up solid supply chain strategies can literally be the difference between a cannabis company succeeding at the international level or having to close down operations.
The best place to learn from true experts regarding supply chain strategies is at the upcoming International Cannabis Business Conference in Barcelona on March 10th. The event will feature a panel specific to developing international cannabis industry supply chain strategies. The panel will be moderated by journalist and entrepreneur Marguerite Arnold. Arnold regularly contributes to this blog. Arnold will be joined by Shlomo Booklin, Chief Cannabis Strategist at Juicy Fields, Luc Richner, CEO and founder of Cannavigia, and Clint Younge, President of Charlie’s Cannabis Co.
This year’s conference will also feature a one-on-one fireside chat with acclaimed entertainer Jim Belushi. Jim Belushi is a man of many talents – actor, singer, comedian, dancer, and now a legal cannabis farmer. Join Jim Belushi and journalist Micha Knodt as they have a one-on-one discussion about Belushi’s career, cannabis advocacy, and his current cannabis industry endeavors via Belushi’s Farm and its famous signature brands. Belushi and Knodt will also discuss Belushi’s new hit Discovery Channel cannabis reality show ‘Growing Belushi’.
The most entertaining man in cannabis, Ngaio Bealum, will serve as the International Cannabis Business Conference’s Master of Ceremonies in Barcelona. Additional speakers include:
- Jamie Pearson – President and CEO, Bhang Inc
- Bernardo Soriano Guzmán – CO-CEO, S&F Abogados
- Guillermo J Fernandez Navarro – CO-Founder, S&F Abogados
- Nic Easley – CEO of 3C Consulting and Managing Director of Multiverse Capital
- Luna Stower – VP Business Development, Ispire
- Sergio González aka Weedzard – President, 420 Movement
- Iker Val – CPO, Sovereign Fields
- Chloe Grossman – Executive Director of Corporate Growth, Trulieve Cannabis Corp
- Roberto Algar – Managing Director, Curaleaf Switzerland
- Santiago Ongay – CEO, Sabia
- Kai-Friedrich Niermann – Founder, KFN+ Law Office
- Dr. Juana Vasella – Attorney of Law, MME Legal Zurich
- Joan Simó Cruanyes – Coordinator of Cananbis Hub UPC
- Aaron Smith – Co-Founder and Executive Director, National Cannabis Industry Association
- Lisa Haag – Founder, MJ_Universe
- Juanma Fernández – CEO, Easy CSC Group
- Zeta Ceti – Founder and CEO, Green Rush Consulting
- Ruben Valenzuela Moreno – CTO, Valenveras
The International Cannabis Business Conference also has additional upcoming events in Berlin in July 2022 and Zurich in September 2022. A limited number of tickets are still available.