by Grow Up Conference | Jul 29, 2024 | Media Partners, Stratcann
MTL Cannabis Corp. brought in $2.5 million in net income from $83 million in net revenue for its fiscal year ending March 31, 2024.
This is an improvement for MTL Cannabis Corp., formerly Canada House Cannabis Group Inc., which reported a $2.2 million loss for the previous year, ending March 31, 2023, from $31 million in revenue.
MTL’s gross profits for the most recent fiscal year were $26.4 million, after nearly $17.8 million in excise taxes, along with factors like operating costs and costs of sales.
As of the fiscal year ending March 31, 2024, MTL says it has completed retrofitting all three operating facilities, specifically Montréal Cannabis Medical Inc. and IsoCanMed Inc. in Quebec, and Abba Medix Corp in Ontario.
The retrofits allow MTL to expand its consolidated estimated cultivation capacity by up to 6,500 kg per year, bringing the total estimated cultivation capacity for the consolidated entity up to 19,500 kg a year.
“MTL’s Q4 and record full year results represent the unwavering commitment from our team to delivering high-quality and consistent cannabis products and services to our customers and patients, while delivering strong results and fundamentals to our shareholders,” said Michael Perron, CEO of MTL. “As we move forward, MTL will continue to build on the foundation we have established and ensure that we continue to be a trusted partner to the ever-growing global cannabis industry.”
MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. (MTL Cannabis), a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions.
To calculate the fair value less costs of disposal of the Licensed Producers CGU and Canada House Clinics CGU, the Company used a post-tax discount rate of 27% (Canada House Clinics – 27%), a pre-tax discount rate of 39% (Canada House Clinics – 37%), a terminal growth rate of 3% (Canada House Clinics – 3%), and EBITDA projections based on past experience, and management’s best estimates regarding future revenue growth considering internal and external available information. For the year ended March 31, 2024, the Company concluded that the recoverable amount of each CGU was higher than its carrying value, and accordingly, no goodwill impairment charge was recognized.
by Grow Up Conference | Jul 29, 2024 | Media Partners, Stratcann
Beginning July 30th, cannabis consumers in Alberta will have another option for product delivery.
Uber Eats, in partnership with Leafly, announced that it would begin accepting orders from licensed cannabis stores at the end of July. The online delivery platform will then inform the store of the order placed on their app, which will then be delivered by store staff.
“More Albertans are accessing legal cannabis than ever before,” said Klaas Knieriem, General Manager of Grocery and Retail for Uber Eats in Canada. “We are partnering with industry leaders like Leafly to help retailers offer safe, convenient options for people in Alberta to purchase legal cannabis for delivery directly to their homes. This will help reduce impaired driving and improve road safety.”
Alberta began allowing retailers to offer online sales and deliveries in early 2022, and BC in 2023.
Some retailers in those markets say the partnership has been beneficial. Others have questioned the value given that Uber and Leafly take a percentage of any sales through their platform, and the store is still responsible for delivery fees.
“Partnering with Uber Eats has been a game-changer,” said Calvin Basran of Queensborough Cannabis in British Columbia earlier this year. “We’ve been able to tap into our strengths—rapid delivery, top-notch service, and strict compliance with provincial regulations—and combine them with Uber Eats’ vast user network to reach new customers across Metro Vancouver. As we get ready to celebrate cannabis culture this 4/20, we’re proud to offer a safe, smooth and convenient shopping experience for cannabis lovers in our community.”
Mike Dunn, the owner of 1922 Cannabis in Toronto, has been using this service for some time now and says he’s very happy with it. His store, he explains, has shifted to doing most of its business in online sales, and working with an app like Uber has allowed him to lean more into delivery without worrying about handling the online infrastructure.
“The user experience, the functionality, the close, rate is so much more effective than I could develop with my web based technology tools,” he explains. “Connecting with a technology leader that understands their customers so well and we can ride off their coattails. They are absolute masters at that. It saved our business.”
Arshi Kalkat, the co-founder of retail chain Dank Cannabis, which is one of the first five retailers participating in Alberta, however, says they are excited by the opportunity.
“Our focus at Dank Cannabis has always been to bring a stress-free retail experience to our customers since we started our business in 2021,” said Arshi Kalkat, co-founder of Dank Cannabis, which is one of five currently participating retailers in Alberta. “This partnership will help us continue to do that and expand our reach to even more people in Calgary. Just like the in-store experience, our provincially certified delivery staff understand and comply with local regulations around cannabis transactions, including checking ID.
Not everyone has had positive things to say about the service, though.
Jazz Samra, the owner and founder of Sativa Bliss Cannabis, with five locations in Ontario, says he initially used the service when it was first launched in Ontario. However, he says he quickly found it was not worth his time. In addition to buying a monthly subscription to Leafly, he says he had to pay a percentage of each sale to Leafly and Uber, adding up to 15%.
“I had them set up for two of my stores and quickly cancelled one because I found out Uber doesn’t have a customer base (in that region.) And I still had to get one of my employees to do the delivery. So I have to take an employee out of the store to do a delivery for an hour, and then I’m paying pretty much my entire profit margin on the sale back to Leafly and Uber. It doesn’t make sense. Leafly is a dinosaur in the industry, nobody is using those things anymore.”
Samara does allow that if third-party delivery services like Uber could also manage delivery, the program might make more sense. But given that retailers still have to take on delivery, he says it’s just not worth it for his locations.
Another Ontario retailer, Jennawae Cavion, founder of Calyx + Trichomes in Kingston, tells StratCann she has opted not to use the service as it eats too much into her limited profit margins. Uber, she says, wanted to charge her a 15% fee for all sales made on their platform with the retailer while still having to take on the cost of delivery themselves.
Although she says there’s an argument to be made that the sales on the platform might bring in new customers, from her perspective, this would just mean cannibalising sales that might have already come through their own online store.
It’s too expensive, and for what?” asks Cavion. “It’s a terrible deal. Just deliver yourself. It’s not just a bad deal for retailers, it’s also a bad deal for consumers because it will just add to the cost.”
“Just work on your own website optimization. Nobody is buying weed from Leafly and Uber eats.”
by Grow Up Conference | Jul 29, 2024 | Media Partners, Stratcann
In its newest quarterly report covering the three months ending May 31, 2024, Tilray reports a net revenue of $229.9 million and gross profit of almost $82.4 million. All figures are in US dollars.
Although these were both increases from the same quarter in 2023, the company still reported a nearly $15.4 million loss. The company reports paying more than $22 million in federal excise taxes in the most recent quarter, a cost it says is eating into their profit margins, representing 31% of total revenue.
Tilray’s beverage alcohol business generated the highest revenue, at $76.7 million, followed by its cannabis business at $72 million. Its distribution business brought in another $65.6 million, while its well business brought in $15.7 million.
Revenue from Canadian medical cannabis in the most recent quarter was $6.4 million, while revenue from Canadian adult-use cannabis was $61.5 million. Tilray brought in just under $13 million in revenue from wholesale cannabis sales and $13.1 in international cannabis sales.
“Tilray Brands also successfully completed three acquisitions,” says Irwin D. Simon, Chairman and CEO, “the eight iconic craft brands from Anheuser-Busch Companies, LLC., HEXO Corp., and Truss Beverage Co.
“These acquisitions were strategic in fortifying Tilray’s house of brands, strengthening our operations, and positioning the Company as a leader across several industries and regions. In the U.S., Tilray Beverages is the fifth largest craft brewer and Tilray Wellness is the leader in hemp products. In Canada, Tilray Cannabis holds the number one recreational cannabis market share, while in Europe, it is the market leader in medical cannabis. Leading the convergence of cannabis, beverages, and wellness, Tilray Brands is poised to continue to disrupt the CPG industry globally.”
Tilray recently announced they received a cannabis production licence in Germany, expanding the number of cultivars they can grow at their Aphria RX facility in Neumünster. The facility gives Tilray the ability to serve not only Germany’s medical cannabis market but also other nearby future and emerging cannabis markets in Europe.
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by Grow Up Conference | Jul 29, 2024 | Cannabis News Wire, Media Partners
A new piece of legislation has been introduced by Senator Gary Peters (D) that aims to alter the way federal agencies evaluate prior cannabis use when determining eligibility for security clearances and employment. The bill, titled the Dismantling Outdated Obstacles & Barriers to Individual Employment (DOOBIE) Act, was proposed on July 11, 2024.
The measure is designed to ensure that previous cannabis use does not negatively impact a person’s eligibility for federal jobs. Currently, federal law still prohibits cannabis users from federal employment and denies them security clearances because cannabis use and possession are still considered crimes at the federal level.
Despite cannabis being legal for medical use in 38 states and for adult use in 24 states, federal restrictions remain strict. The U.S. Drug Enforcement Administration is currently going through public comments on a proposal to reschedule marijuana as a Schedule 3 substance, which would lessen federal restrictions compared to its current Schedule 1 status, where it is grouped with substances such as cocaine and heroin.
The proposed legislation would prohibit the Office of Personnel Management (OPM) together with executive offices from basing employment appropriateness judgments on an individual’s prior cannabis use. Additionally, it would amend current legislation to ensure that previous cannabis use does not prevent one from obtaining security clearances or credentials for personal identification verification.
The bill explicitly modifies guidelines and definitions to conform to modern perspectives and the legal status of cannabis. It makes changes to the Intelligence Reform and Terrorism Prevention Act of 2004 Section 3002, eliminating marijuana’s classification as a “controlled substance” for security clearance purposes. Consequently, previous cannabis use would not constitute grounds for federal agencies to refuse security clearances or employment eligibility.
The Director of National Intelligence’s (ODNI) Office and OPM are tasked with assisting agencies in implementing these changes and making sure their rules conform with the act. The measure seeks to eliminate barriers to government employment for individuals with a history of cannabis use and lessen the stigma attached to its use.
There have long been initiatives to lessen prohibitions on marijuana users applying for federal jobs. Last year, a bipartisan House measure called the CURE Act, coauthored by Nancy Mace (R) and Jamie Raskin (D), proposed amendments to federal law to remove prior cannabis use as a disqualifying factor for federal employment candidates. The CURE Act also sought to ensure that cannabis use would not be a basis for depriving prospective federal employees of security clearances.
A few federal agencies have already started to implement the changes proposed in Peters’ bill. The OPM released guidelines in 2021 that said an applicant for a federal job cannot be denied solely based on prior cannabis use. The ODNI also revised its guidelines to make sure that government workers and contractors cannot have their security clearance denied based solely on prior cannabis use.
The wider cannabis industry, including leading entities such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), hopes that these different reform measures eventually yield tangible changes to the current marijuana policies at the federal level beyond the anticipated reclassification.
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by Grow Up Conference | Jul 29, 2024 | Media Partners, Stratcann
Heath Canada allows producers to provide samples to provincially licensed cannabis retailers and their employees. The provinces and territories then regulate whether and how retail store employees can use the samples.
Sampling is helpful for budtender education and can be a key component of industry events where LPs are scrambling to distinguish themselves in a crowded market.
But how effective is it?
“I only have experience with sampling at the tradeshow level, and can’t speak for in-store sampling,” says Randy Rowe, CEO and President of the Grow Up Conference and Expo. “However, I think the rules currently are sufficient to allow brands to get much-needed exposure to retail buyers and budtenders.”
Rowe says that the sampling has delivered material benefits to Grow Up’s attendees, which include retail buyers and budtenders.
“We’ve heard of retailers bringing on new brands based on meeting them at our show and seeing and receiving samples,” he says. “One retailer I spoke to at our Victoria event placed an order on the spot from a brand they just met at our show during the speed networking event.”
At the retail level, sampling can significantly affect menu curation and reduce financial risk.
“Sampling is a big influence on how I do business,” says Katy Perry, Founder and CEO at TOKE Cannabis, which has eight retail locations in Ontario. “It affects who I choose to do business with, and what I carry on my menu board, because it’s hard for us to purchase from the OCS without first being able to see, smell, and touch the product. In effect, not sampling puts the financial onus on me.”
A tricky business for LPs
While the value of sampling is apparent to many retailers, it’s not a simple proposition for some LPs, who must carry their own financial and regulatory burdens, including the possible repercussions of a CRA audit.
“A CRA audit will want to see how LPs differentiate between products that are sampled to retailers and their employees, and those that are for sale—although both generally require excise duty to be paid,” says Harrison Jordan of Substance Law. “The CRA is very strict when it comes to the integrity of the excise duty. The numbers have to match up.”
Perhaps the most bizarre regulatory hurdle is that LPs without a research licence are not allowed to sample their own products.
“It’s completely backwards—crazy that if you work at an LP, you can’t sample your product,” says Jordan. “To make matters worse, the requirements for research licenses are more onerous now that there are specific requirements for non-therapeutic human research, especially beyond organoleptic testing.”
Still, many LPS are finding that the extra effort is worth it.
“Sampling itself is still a tricky process,” says Omar Ali, CEO of SESS Holdings. “It does take some time to package, mail, and follow up, but, at the same time, I believe there are many benefits. From the budtender to the keyholders, the ones who are able to understand your intention of sampling are much more receptive to recommend your product.”
The cost of opportunity
Because sampling is more complex in the cannabis business than among more typical packaged retail goods, and includes additional costs, it’s critical that LPs have a strict handle on the value proposition.
“As an LP, if you’re going to do a sampling event, you need to be able to measure the ROI on the products that you’re handing out,” says Rowe from Grow Up Conference and Expo. “Simply just handing out samples to a room full of attendees without tracking can become very expensive and time-consuming.”
On the retail side, whereas some stores are thrilled to see LP representatives come through doors with samples for staff, others want to have more control over product education.
“That’s something that I respect and appreciate,” says Janeen Davis, VP of sales at Joint Venture Craft Cannabis. “You really have to take a balanced approach. I always think it’s best to reach out to store managers and to ask them what works for them.”
Many smaller producers need to monetize every gram coming out of their facilities. Given the costs of compliance, shipping, etc., poorly coordinated sampling can have a direct, negative effect on the bottom line. It’s critical for the LP to understand the specifics of a given retail environment.
“You might be sampling the wrong product at that store,” says Davis. “How many cases does it pull through a month? If they bring in a case of a more premium price product than your sampling premium product, are they moving one case in two months, or one case in one week?”
Given that market education is itself time-consuming and constantly changing, it’s understandable that an LP would stick with what it knows.
“Right now, we’re focused on our current established retailers and ensuring they have samples and the knowledge needed to win over that customer, and to keep them coming back,” says Ali from SESS Holdings.
Ultimately, the most positive effect can be seen on the sales floor.
“So many of our budtenders are also passionate consumers,” says Perry. “It’s unfair of us to ask them to purchase cannabis in order to educate the public and to be good at their jobs. We want them to help educate customers, without the added expense.”
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by Grow Up Conference | Jul 29, 2024 | Grow Opportunity, Media Partners
by Grow Up Conference | Jul 29, 2024 | Grow Opportunity, Media Partners
by Grow Up Conference | Jul 29, 2024 | Cannabis News Wire, Media Partners
Earlier this month, the United States Supreme Court thrust cannabis rescheduling into even deeper uncertainty. This comes after the court’s ruling directed that no deference be afforded to how federal agencies interpreted laws when Congress left room for ambiguity.
This move may have increased the time it will take to reschedule marijuana because it offered new lines of attack to those what oppose the move. It is expected that the opposition could use the Loper v. Bright ruling, among other attacks, to hinder progress on rescheduling.
This comes after President Joe Biden directed that the U.S. Department of Health and Human Services begin a process to reschedule cannabis and the department determined that the drug did have accepted medical use.
Even with this setback in mind, however, Congress still has the power to decide on marijuana rescheduling. This is because this branch of the government should have been the one to make the decision anyway. Based on its track record, however, Congress often fails to exercise its mandate fully.
This can be seen in the fact that medical cannabis is still illegal at the federal level, despite having a 90% approval rate.
In a recent report, the Congressional Research Service stated that Congress could easily and with greater flexibility and speed, move cannabis to Schedule 3. If current circumstances play out like this, the legalization of marijuana may be soon be at the forefront again.
It helps that most voters are also in favor of the drug’s legalization, with Gallup determining that at least 70% of voters would want to see the drug legalized.
For marijuana to be rescheduled via Congress and succeed, voters will need to elect legislators who are more procannabis. This is doable, particularly when one considers that 35 million frequent marijuana users are eligible to vote.
A survey carried out earlier in the year also determined that promarijuana campaign promises could motivate consumers of cannabis to vote in November. The poll also determined that 59% of voters who likely used marijuana regularly would vote for a procannabis candidate, regardless of the party the candidate belonged to.
The poll was filled by 635 respondents, all of whom were registered voters who consumed marijuana frequently. Its results also highlighted the potential for bipartisan legislation, urging GOP voters as well as Democrats to push for cannabis descheduling.
Consumers, activists and companies are also encouraged to become more involved in the positions of their respective parties. Only then will the industry and its major players such as SNDL Inc. (NASDAQ: SNDL) see the meaningful reforms that would enable rapid growth in the sector.
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by Grow Up Conference | Jul 29, 2024 | Extraction Magazine, Media Partners
The Ford Model T owes its success to the power of the assembly line. Mass production meant products were manufactured faster, cheaper, and in larger amounts, but it did come with one major downside. As popular as the car was, Model T’s were nearly identical to each other. When asked about the color, Ford said the cars came in, “Any color the customers want, as long as it’s black.” [1] Limiting consumer choices meant Ford could increase his output dramatically. If all the cars were black, factory workers didn’t have to think about attaching the right body to the right frame, and could just repeat their jobs endlessly. At the time, this was perfectly acceptable, but today, speed isn’t enough. Consumer demands have increased over the last century, evolving into the new era of manufacturing, today known as industry 4.0. [2] This period focuses on customization, which is common in industries like retail and finance, but it is making its way to the botanical extract industry as well. By applying these Industry 4.0 strategies, extraction businesses can adjust their strategies in this growing market.
What is Mass Customization
Henry Ford, while a significant figure in American manufacturing, is only a single link in a long chain. Ford’s system was only possible due to Eli Whitney. [3] Though he is most famous for inventing the cotton gin, Whitney’s most significant contribution to American industry is the invention of interchangeable parts. Originally developed as a way for Americans to build their own guns at home, Interchangeable parts proved to be too useful of an idea, and it quickly spread to other items as well. Being able to switch out broken parts meant those parts to be sourced and swapped from similar machines.
This resulted in the mass appeal of standardized equipment, as interchangeable parts made repairs and maintenance much simpler. After a century, Ford took this idea one step further by developing the assembly line. [4] Ford’s goal was to improve efficiency through standardization. With interchangeable parts, constant labor supply, and simplified assignments, Ford reconfigured factory systems to maximize production output. These changes were revolutionary, but ideas often improve with time.
Factories require a lot of overhead, especially when the manufacturing system relies on a surplus of parts for future projects. This led to bloated balance sheets, which prompted the creation of Just-In-Time (JIT) manufacturing.[5] What set this style apart from the previous mass production strategy was that part production was driven by demand, meaning the manufacturers didn’t make the parts until just before they assembled the car. This lowered their costs by only making the parts they needed, while simultaneously limiting storage costs for equipment over the long term.
These changes were possible due to increased technology that allowed for faster production times. With these faster speeds came the added benefit of allowing customers to have more control over designing their perfect products. If the parts weren’t made until customers ordered them, then the customers could decide which parts best satisfied their needs.
With technology only increasing since the 1970s, additional tools like AI, data analytics, the Internet of Things, and manufacturing tools like 3D printing manufacturing have prompted a new era in manufacturing characterized by mass customization. [6] Though it may have started with consumer goods like cars, customized experiences and products are more common across multiple industries.
This is true for the botanical extraction industry where a large desire for customization has developed a decentralized sector for manufacturing and services. In this new market, companies can balance the diversity of their offerings with the specialization of services. Complex offerings can attract more clientele, but specialization may attract a wider base who require the same service. Each strategy has pros and cons, and it is up to each company to decide how to find the right balance for themselves. When considering this, there are four ways that companies within the extraction industry can improve their customization.
Cosmetic Customization
The most obvious form of customization comes in the form of branding. Cosmetic customization involves generating emotional responses through products, styles, or brands to distinguish one product from a competitor’s. [7] This is especially important in the extraction industry because so many extracts are indistinguishable in appearance from rival company products. Companies looking to expand their cosmetic customization may consider evaluating their packaging, logos, or even color theory. [8]
Powerful branding should help to make a product identifiable, but that is not all. When done correctly, branding not only establishes a product’s identity, it also provides consumers with necessary information about the extract. This may include nutritional facts, side effects, extraction techniques and anything else that may confirm to consumers they are buying a quality product.
Depending on what these companies require for their customization needs, they may consider hiring consultants who specialize in marketing, advertising, or design. It’s up to each business to decide for themselves, but as the extraction industry continues to expand, branding firms may prove to be some of the most scalable businesses. With new companies constantly looking to design new promotional material for products, firms can grow at a rapid rate to meet demand. Powerful brands can help companies establish themselves in the long term, so an advertising budget may be worth the initial investment for a growing extraction company.
Transparent Customization
The second form of customizable manufacturing relates more to consumers than to business services directly. Transparent customization is the act of tailoring products to suit individual clients’ needs. [9] What sets this apart from cosmetic customization is that cosmetics focus on customizing the packaging, whereas transparent customization focuses on unique products within similar packaging. This may sound confusing, but most companies balance the degree of customizable products with the appeal each product may have for a mass audience.
A food manufacturer, for example, will ultimately sell more extracts if they diversify into more plant materials to produce extracts. They may sell various products under the same name, but each product may cover a wide area of market demand. This is an effective way to increase sales, as increased product offerings mean more opportunities for customers to buy. This strategy relies on brand loyalty, but it also encourages shoppers to come back either to try a new offering or to see what is new.
In contrast, other companies may choose customization through one material, but offer it in a variety of forms. Take honey as an example. A honey producer may elect to sell his products for food or cosmetics, with less preference on the specific product. This changes the business model slightly, encouraging a focus onto quality honey, and less of an emphasis on the variety of products. Both provide customization, but in two very different ways. The balance being struck here is up to each company to determine.
Each model may be fruitful, but different approaches may appeal to different business structures. By evaluating which strategy works best, companies may also find ways to better establish their brands. This could manifest in the form of reputational growth either from related products or from quality ingredients.
Collaborative Customization
Instead of focusing on customizing the product or the branding, it is also possible for companies within the botanical extraction industry to customize the services they offer. Take, for example, a lab testing facility. Any product that is intended for human use or consumption has to undergo regulatory approval before it goes to market. Regulatory necessities will vary by product, and may have different requirements depending on the extract.
To make sure that products meet market compliance, many firms choose to contract specialists who go through all the steps from safety tests, branding accuracy, to local regulatory approval. These kinds of companies are examples of collaborative customization within the botanical extraction industry. [10]
This concept is most easily understood by imagining a pizza restaurant. When ordering a pizza, customers can pick their own toppings, but the pizzas themselves are basically the same. In the extraction industry, any company that can provide a repeatable service, but with minor alterations to fill clients’ needs, satisfies that model and a laboratory testing facility is a great example of this. Variables like intended use, materials included, and extraction techniques may all need to be evaluated before a product is approved.
Laboratories can also balance their testing flexibility with product specialization, depending on what demand in their local market looks like. The balance will most likely vary from one lab to another, but using this model can help many others to carve a niche for themselves in industry 4.0.
Adaptive Customization
Adaptive customization is similar in nature to collaborative customization, but with one key difference. [11] Both of them rely on customization of services, but with dramatically different approaches. Collaborative customization is like choosing the toppings on a pizza, meaning companies provide the same basic service with minor differences based on customer needs. In contrast, companies that practice adaptive customization are more akin to Swiss army knives. This is to say that these firms are more like one-stop shops that provide a wide variety of services depending on what their clients may need. If lab testing facilities serve as an example for collaborative customization, a common example of adaptive customization within the world of botanical extracts would be extraction facilities themselves.
Some large manufacturers have their extraction units in house, but there are several smaller firms that prefer to outsource this job to lower their own cost basis. As a result, extraction facilities have to customize their services based on extraction techniques, solvents used, production times, sourced materials, and product potency. Thanks to adaptive customization, the way these facilities set themselves apart from their competition is by offering customized services.
This may mean synthesis of more materials, diversifying into lab testing, or through processing and storing hazardous materials. With each of these examples, other companies may find it is just as profitable to narrow their focus into a specialized area of coverage as well. Adaptive customization, more than any other customization model, also shows how this customization benefits customers. With increased options in the customization manufacturing industry, consumers get to decide how unique their experiences are. That being said, highly customized or specialized products can increase cost, so any priced sensitive client should consider a more standardized model as a result
References:
- Crowther, Samuel, and Henry Ford. My life and work. Doubleday, Page, 1922.
- Sony, Michael, and Subhash Naik. “Key ingredients for evaluating Industry 4.0 readiness for organizations: a literature review.” Benchmarking: An International Journal 27.7 (2020): 2213-2232.
- Woodbury, Robert S. “The legend of Eli Whitney and interchangeable parts.” Technology and Culture 1.3 (1960): 235-253.
- Brinkley, Douglas, and D. Brinkley. Wheels for the world: Henry Ford, his company, and a century of progress, 1903-2003. New York: Viking, 2003.
- Singh, Gurinder, and Inderpreet Singh Ahuja. “Just-in-time manufacturing: literature review and directions.” International Journal of Business Continuity and Risk Management 3.1 (2012): 57-98.
- Tseng, Mitchell M., and Jianxin Jiao. “Mass customization.” Handbook of industrial engineering 3 (2001): 684-709.
- Marathe, Sampada Sameer. “The ‘me’revolution in mediated communication: Investigating the psychology of cosmetic and functional customization.” (2010).
- Harris, Michael J. Color theory and its applications in marketing as it relates to color psychology. Diss. Ball State University, 2018.
- Schnabel, Tobias, et al. “The impact of more transparent interfaces on behavior in personalized recommendation.” Proceedings of the 43rd international ACM SIGIR conference on research and development in information retrieval. 2020.
- Palmer, Catherine, Char Booth, and Lia Friedman. “Collaborative customization: Tutorial design across institutional lines.” College & Research Libraries News 73.5 (2012): 243-248.
- Kiangala, Sonia Kahiomba, and Zenghui Wang. “An effective adaptive customization framework for small manufacturing plants using extreme gradient boosting-XGBoost and random forest ensemble learning algorithms in an Industry 4.0 environment.” Machine Learning with Applications 4 (2021): 100024.
by Grow Up Conference | Jul 27, 2024 | Media Partners, Stratcann
This past week, we heard from Global Affairs Canada and the Canadian Cannabis Council about their disappointment over Israel’s preliminary report proposing massive import fees for Canadian cannabis.
We also examined changes coming to OCS’ warehouse distribution centre and new licensing information from Health Canada that shows a continued YOY decrease in new licence applications.
Tilray and Aurora both announced expansion opportunities for their facilities in Germany.
Cannara reported their Q3 2024 results and Delta 9 had their CCAA protection extended to September 15.
It was also a busy week for cannabis and law enforcement stories, with CBSA seizing cannabis in Nova Scotia and Ontario, while police in London seized a large quantity of cannabis products from a residential neighbourhood.
In other cannabis news in Canada:
Canada has shared new cannabis and industrial hemp contact information for licence holders, applicants, and industry.
Guelph Today covered a research paper StratCann first reported in early June, looking at the accuracy of labels on cannabis oils sold in Ontario.
An “odour app” chronicles behavioural responses to smells in the Metro Vancouver region. The City of Vancouver reports a disproportionately large number of reports with the suspected cause of animal processing (95%), while suburbs like Delta report disproportionately more on garbage and compost (58%), cannabis (73%), and farming (60%) causes.
UBC Medicine researchers awarded over $25 million in CIHR project grants, including just over $1 million for a project entitled “The impact of medical cannabis on driving safety: A driving simulation study.”
International cannabis news
An Ottawa man was found not guilty of smuggling almost $1 million of cannabis into Bermuda in 2023. Ngongo-Eric Sampassa, 32, successfully argued he didn’t know there was cannabis in his baggage. Local media reports that he is the spouse of a Canadian diplomat. Last week, another man from Ontario pleaded guilty to importing cannabis into Bermuda and was sentenced to 8.5 years.
Reuters also looked at the current zeitgeist surrounding the German cannabis market.
California officials are scrambling to test cannabis products for pesticides following a recent investigation by the LA Times and numerous recalls.
Thailand will work towards legislating cannabis for medical use, signalling a U-turn on plans to re-criminalize the plant and another change in the government’s back-and-forth on the subject over the past few years.
The American College of Physicians released eight recommendations, calling for an evidence-based public health approach to cannabis regulation, including the decriminalization of possession of small amounts of cannabis for personal use.
Finally, the 8th annual Cannabis Research Conference will be held in Colorado from August 7 to 9.
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