Full Digitization of Certificates of Analysis (COAs) in the Cannabis Supply Chain

Are you ready for another great podcast? Our CEO Larry Levy was a guest on Cannabis Radio. He talked about the need for digitization in the Supply Chain in the Cannabis industry, and how our latest tool LucidRetail LITE can help streamline the process. Listen here.

We discuss the Full Digitization of Certificates of Analysis (COAs) in the Cannabis Supply Chain with Larry Levy, the CEO of Lucid Green

The company’s intelligent UPC aims to reduce cost and increase transparency in all parts of the supply chain, from growers to brands to retailers to consumers.

With Lucid Green’s system, aptly called LucidID, products use one barcode from seed to consumer. Cultivators and brands can use this barcode to upload and access test results and compliance certifications. In addition, retailers can use it for real-time inventory management and building loyalty programs with shoppers. Because this happens with one label, Lucid Green says this system eliminates the tedious process of affixing new labels to product packaging.

Legal cannabis is highly regulated and requires numerous checks along the route to the consumer. The retailer or dispensary is often saddled with extra work around affixing specific labels to different products as regulations change, increasing labor costs and reducing revenues. Lucid Green claims its data suggests the LucidID system can save retailers up $10,000 a month.

Other companies offer similar solutions around QR codes but lack the comprehensive benefits found with LucidID. For example, some brands use QR codes to give consumers more information. Others use QR codes for inventory tracking. Lucid Green says the closest competitor comes from pharmaceutical companies, though most stop short of letting consumers access the information available to pharmacies.