METRC CANNABIS COMPLIANCE IN 2021
WHAT DOESMETRC MEAN?
Higher Yields Consulting offers professional reconciliation services. Don’t get lost in the dark, have us help you with all of your training too!
WHY DIDMETRC cannabis track and trace START?
In the State of Colorado there was difficulty in regulating growth and sales of marijuana. In December of 2013, METRC was adopted inside the Marijuana Enforcement Division (MED). According to the Franwell website, “the system has above 20,000 users and has successfully tracked over 5,000,000 plants and 3,800,00 packages.”
Previous to using seed-to-sale tracking, the State of Colorado was having difficulty relying on “hard copy” type record keeping where a standard was not being met. The seed-to-sale system brings forth a standard for reporting and communicating with regulatory authorities about inventory and sales. The data from this program along with other states that have adopted the system leads to a dynamic approach towards regulation instead of reactive regulation which tends to address only significant cases instead of approach the industry as a whole. John Hudak of the Brookings Institute has attributed METRC in the state of Colorado by stating, “In many ways, the system is the backbone of Colorado’s regulator structure governing legalized marijuana.” – July 31, 2014.
Colorado, along with many other states had such a migration to the industry without a standard to communicate inventory and sales with dispensary owners. Franwell, the group that designed the seed to sale tracking system along with the Marijuana Enforcement Division have created a system which allows municipalities and constituents to make educated decisions based on comprehensive and fair regulatory compliance industry wide.
If you have any questions regarding our compliance services, or any of our other services, don’t hesitate to contact us using the form below. One of our employees will contact you within 1 business day.
WHERE DO WE PROVIDEMETRC SERVICES?
As more states legalize both medical and recreational marijuana the demand for METRC and other seed-to-sale software and tracking systems increases. Higher Yields’ professional compliance consultants have worked on METRC specific systems in the following states:
In general HYC works with seed-to-sale software and tracking systems all over the United States and internationally. We work with BioTrack and other cannabis track and trace systems as well in both the recreational and medical marijuana markets.
HYC also provides services to the commercial hemp industry both domestically and internationally. Contact us today for a initial consultation.
METRC certification process
You must first obtain certification to utilize the system. The studies include proprietary terminology and workflow and then completing a fairly simply 40 question test. Once certified you will be able to access API endpoints that your company will require access to. You will have to complete a competency examination for each endpoint.
DOES YOUR BUSINESS NEED
A CANNABIS COMPLIANCE AUDIT
Our compliance consultants have years of combined experience dealing with marijuana business compliance. One thing we’ve learned is businesses must stay on top of their compliance before it gets out of hand. Don’t take any chances, ensure your greatest asset, your license. Find out if your business needs a compliance audit.
METRC Made Easy
Problem: The MJ Freeway hack on January 8th served as an unfortunate reminder of how dependent the cannabis industry is on the digital realm. With the industry leading seed-to-sale tracking software down, over 1,000 dispensaries and retailers across the country were left without a way to keep regulatory records. Some operations chose to execute sales manually, while others were forced to close their doors in order to remain compliant. Since the hack, many businesses have fallen out of compliance. Take this opportunity to learn how to reconcile your METRC quickly and efficiently. HYC METRC consultants have discovered and rectified over 25,000 discrepancies. We have consolidated the process into 3 easy steps, allowing your store, grow, or lab feel relieved and empowered.
METRC is a daunting task — management only has so much time in a day! HYC will train your staff, making METRC reconciliation manageable. Identify. Reconcile. Report.
Identify – create physical inventory > pull digital inventory > compare with state seed-to-sale system > find variances (i.e. packages that don’t exist or packages entered wrong in the POS system). Often times, the variances found are reporting incorrectly on a daily basis.
Reconcile – use comparative analysis of discrepancies between physical and digital inventory > make necessary adjustments < complete incorrect packages and variances.
Report – compile and record all discrepancies and changes to complete your METRC report. METRC reports are necessary for the MED. These reports are also a great way to review and train staff to submit correctly. We strongly recommend them!
For more information on how to reach peace of mind through accuracy, consistency, and transparency, Contact Higher Yields Consulting to learn more about our Reconciliation, Compliance, Certification and Training programs.