Relationships are the key to bridging the services gap for commercial cannabis businesses, and the basis of a good relationship is understanding the other side. Jontae James, CEO of NatureTrak, will provide a view for both the cannabis business and the ancillary cannabis business on how to accomplish the transparency necessary for both sides to prosper with risk-based due diligence. Jontae focuses on using the track and trace system and providing formal policies and procedures to support unusual activity analysis. Jontae will cover how to identify unusual activity indicators, complete a thorough analysis, and implement mitigation strategies.
Identifying inversion and diversion of cannabis product requires more than analysis of the sales price. It is also understanding the supply chain. In this episode, Jontae introduces key information to evaluate, like how much the commercial cannabis business expects to produce/sell, where the cannabis product is going, and who they do business with. Vendors and ancillary cannabis businesses should also look for natural reconciliation points in the supply chain, like where taxes are collected, to help them manage their risk.