How a Reliable Supply Chain Plan Can Aid Your Hemp Business
January 13, 2022 
It is vital for hemp industry members to develop consistent methods for monitoring and improving the production and sale of their products. Developing a sturdy structure enables hemp production companies to regulate the quality of their products, expenses, and timing to efficiently deliver impressive high-quality goods to their consumers.
Hemp executives, manufacturers, growers, and processors need to understand these challenges and develop viable solutions to achieve their goals. Revolutionary production methods like hydroponic cultivation play a vital role in increasing cannabinoid potency. The supply chain of cannabinoids depends on the farming methods, tools, and harvesting of the products.
It is imperative for growers to diligently choose their seeds and production methods, bearing in mind that their farming choices affect the quality of their products greatly. To achieve a consistent hemp supply chain, United Kingdom-based Business Matters magazine recently offered the following pointers.
Develop an elaborate plan: Production planning is one major challenge hemp farmers face. Hemp farmers often find themselves scrambling to secure seeds and other crop inputs in July, long after the planting season has begun. Farmers should start planning for the next season just as the last season finalizes. Before August, you should already know your soil’s mineral or nutrient deficiencies so that you can take the necessary action. The 2018 Farm Bill sanctions the State Departments of Agriculture to hand in the hemp production plans to the USDA for approval before planting.
Farmers should also be diligent enough to scrutinize their last production season, consider the performance of their hemp seeds and the pressure of pests and diseases they underwent, and design viable pest management or crop protection plans. You should also design a harvesting plan that includes a processing facility contract to reap maximumly.
Analyze the costs: Many farmers run at a loss in the long run due to poor record-keeping of their production costs. Growing hemp requires seeds, crop protection labor, machines, irrigation water, and fertilizer, which contribute to the production cost. Having a vivid record of your production costs is a prerequisite for assessing your farm’s productivity.
Failure to analyze the worth of hemp inputs and the foreseeable profits can cripple hemp supply due to depressed hemp prices. In 2021, farmers lost a fortune due to the disheartening prices of hemp products. Estimating production costs can be cumbersome.
For instance, placing a value on raw materials for a specific season is more manageable than unstable and constantly changing costs. The University of California designed a reference guide to assist farmers in production cost estimation.
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