If you’re launching a product or business in the cannabis industry, you have to pay attention to your packaging and labeling. Not only must it be attractive or grab the consumer’s attention, but it must also comply with state regulations. For one thing, cannabis labelling and packaging regulations are an added layer of consumer protection. Still, it’s challenging for multi-state operators because regulations vary from state to state.
For any business, third-party vendor management is essential to ensure compliance, reduce risk, maximize profit and sustain business operations. But when it comes to cannabis, the importance of proper due diligence in vendor management becomes even more evident. You’re dealing with a product that could be easily abused. Without proper cannabis vendor management, your business could be exposed to unnecessary risk—from financial and operational challenges down the line.