Implementing Lean Manufacturing Principles in the Cannabis Industry, Part 1

I am finding that the cannabis world is in a fascinating phase. It’s not very often you get to observe an industry evolve so quickly in front of your eyes, and witness all of the changes and growing pains that come along with that.

In its earliest stages, we witnessed numerous cannabis companies flouting widely-accepted business principles, and seemingly thriving despite their unconventional methods. This led to a commonly-held belief that “cannabis is like no other industry.” Nevertheless, we are now observing a shift away from the “act first, think later” mentality, toward a more mature market where traditional business fundamentals apply just as they do in other sectors.

Now, we’re starting to see those same companies that neglected to adopt best practices, struggling to survive in this new landscape characterized by a surge in competition and rapidly declining prices in both the wholesale and retail markets. If there’s one philosophy that embodies what that companies should be doing in order to make it through the mass casualty event that’s currently taking place, it’s implementing lean manufacturing in cannabis production operations.

Read more at Diamond Miners Consulting.