Secure cash transportation is (rightfully so) a highly regulated process in the Michigan cannabis industry that requires a comprehensive approach to mitigate risks and maximize return on investment. Michigan cannabis companies rely heavily on supply chain management to ensure their products are transported safely, securely, and efficiently from the grower to the dispensary. In this article, we will provide a complete supply chain checklist for Michigan cannabis companies to optimize their logistics process and keep their operations compliant with state regulations.
The 5 Most Important Factors to Ensure Secure Cash Transportation
Ensure Transportation Compliance
Optimize Packaging and Storage Solutions
Implement Security Measures
Embrace Technology
Limit Liability Exposure
Ensure Transportation Compliance
Michigan law requires that all cannabis products and cash be transported by licensed and insured companies that have been approved by the Michigan Marijuana Regulatory Agency. Before engaging in any transactions with a transportation company, it’s important to verify their credentials and ensure they’re authorized to transport cannabis products and cash. Always make sure to ask for their license number and MRA approval documents before scheduling any services.
Optimize Packaging and Storage Solutions
Proper packaging and in transit storage is crucial in the transportation of cannabis products. Not only can it preserve the potency and freshness of the product, but also ensure it is protected from theft or damage. Look for a transportation company that offers a variety of packaging to match the specific product needs as well as secure, in-transit storage solutions. In addition, ensure the transportation company utilizes temperature-controlled vehicles to prevent product degradation during transit.
Implement Security Measures
The transportation of cannabis products and cash is inherently risky, and as such, it requires significant security measures to prevent theft, damage, or loss. It is critical to look for a transportation company that employs highly-trained and experienced security personnel, utilizes GPS tracking, and has backup plans in case of an emergency. Ensure that the transport company follows state and federal regulations for security measures, such as armed and uniformed guards, armored vehicles, secured transport boxes, and security cameras in the vehicle.
Embrace Technology
Utilizing the right transportation management technology is one of the most important tools Michigan cannabis companies should have in their arsenal when it comes to optimizing the efficiency of their supply chain. Look for a transportation company that offers real-time electronic tracking and tracing systems, which helps in increasing transparency, auditing, and accountability. This technology could provide real-time visibility on where the item is in transit and also ensures the safety of both the product and the stakeholders. Electronic manifests for products could be prepared during dispatch, which could increase speedy delivery and also lead to better inventory management.
Limit Liability Exposure
“Expect the best. Prepare for the worst.” - Zig Ziglar
While transportation mishaps can happen in any product category, cannabis and/or cash is particularly susceptible due to the increased regulation. Be sure to select a transportation company that has adequate insurance coverage to minimize liability exposure. In this way, any damage, theft or losses will not affect your business and impact your bottom line. Insurance coverage must be verified against their licenses, and the policy details should be available with prospective customers.
In conclusion, the transportation of cannabis products and cash is one of the most crucial functions in the cannabis supply chain in Michigan. By implementing our complete supply chain checklist, you can gain confidence that you’re partnering with a reliable transportation company that can provide top-quality packaging, security, compliance, and technology solutions. By reducing transportation risks, improving efficiency, and increasing supply chain transparency, Michigan cannabis companies can build a more sustainable and profitable business in the increasingly competitive industry.
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