One aspect of cannabis industry that is continually grabbing the attention and following of the general consumer is the cannabidiol (CBD) market. Industrially, CBD from the hemp plant is widely accepted in several states compared to that from marijuana. CBD is one of the essential compounds of the cannabis plants well known for a wide range of health issues. CBD oil (from hemp plant) has been proven safe to use compared to other compounds such as tetrahydrocannabinol (THC) mainly from marijuana. CBD is now an essential ingredient in a number of products ranging from beauty products, pet care products and sports creams. CBD’s most popular use relies on its anti-anxiety and anti-inflammatory properties.
With all these business excitement, digital technologies provide the tools to improve and ultimately shape the supply chains to withstand operations challenges. These include technological innovations with a focus on compound and products processing, safety and packaging for distinction in the competitive marketplace. Supply chains that embrace technology see exponential growth effects.
Ways IBM Transforms CBD Supply Chain
The digital business planning solutions make operations more accurate, cost-effective and efficient. With widespread automation, IBM benefit CBD oils supply chain through greater transparency and accountability, automated purchasing and planning, enhanced product safety and reduced human error.
Quicker, safer and cheaper transaction settlement
Efficiency in the financial flow of supply chains comes with substantial rewards. The number of investment companies willing to make for faster transaction settlement has been continuously on the rise. Time-consuming cross-border payments, a common routine in many supply chains, is costly and time-draining.
IBM innovations have brought in B2B payment processes without third-party intervention, automatic and immediate update of ledgers, and execution of both ends of transaction, rather simultaneously.
Better shipping data
Shipping accuracy and timeliness both have indispensable impacts on products and brands images. Most customers are concerned about receiving a product in time and damage-free. They demand for quick, cheap and safe delivery. The need for IBM’s more accurate real-time data with information sharing is thus significant in influencing product sales.
Reducing human error
This is the one link in the supply chain where avoidable costs take hold. Manual processes are prone to human error. This affects even the most careful and skilled data entrants. Supply chain errors increase costs and inventories while decreasing sales due to supply-demand disruptions. IBM supply management platforms are designed to reduce reliance on humans with automated transactions, recordkeeping and inventory tracking systems.
Product safety and traceability
Consumers expect companies to provide goods and brands that value both social and environmental ethics. Most of them are even willing to spend more for a product sold by ethical brands.
No human force can match the whiles and canning nature of counterfeiters and peddlers of fake products. The task of vetting millions of products each day is just too overwhelming not to automate. IBM innovations allows almost no cracks through which counterfeit goods can be slipped into the supply chain.
IBM avails the technology for quicker food supply chain tracking mechanism. Our technology innovations create the ability to trace products’ progress along a supply chain, proving that the products path from farm source to shelf adhere to legal and ethical aspects.
Having shared all these important CBD product supply chain insights, here is the review of the best CBD oils for sale online.