CustomVault understands the cannabis industry well. In addition to our decades of experience, our staff stays on top of state regulations, security needs for state licensure, and bills heading through legislatures that may affect the fast-growing cannabis industry.
Today’s blog discusses why your products need a cannabis vault.
Federal and State Compliance
Cannabis-related products remain classified as a Schedule I substance by the DEA. The agency defines these products as having no acceptable medical use and a high potential for abuse. Heroin, LSD, and meth follow the same schedule. While conversation is ongoing, there is little to indicate that changes are coming any time soon with regard to the federal stance on cannabis.
Despite the national position on cannabis, legalization continues to gain traction state by state. As of early 2021, 36 states have legalized cannabis – either medical, recreational, or both. And each state has a different mandate with regard to security requirements, that may or may not be consistent with DEA requirements.
Connecticut is among those with the strictest and most specific security rules, while other states merely say you need to have “secure safe” physical storage – obscure guidance at best. Ultimately, however, your security plan is assessed alongside your business plan when applying for a state license. The DEA, on the other hand, dictates that all cannabis products abide by their security regulations in order to maintain federal compliance. So how do you navigate state and federal requirements.
CustomVault can help you wade through state and federal regulations and ensure optimal protection of your products while meeting specifications set forth by government agencies. In the end, we believe a cannabis vault is likely the best (and right) way to protect your business.
Your Best Bet for Real Compliance
The DEA mandate for secure pharmaceutical storage, including cannabis, is linked to code 21 CFR 1301.72 which requires that all Schedule I products be contained in a vault or safe meeting their standards. CustomVault has provided security for both the cannabis and pharmaceutical industry for decades and has yet to fail a DEA inspection. Compliance is something we do well.
Security From Criminal Elements
Despite the legalization of cannabis in most states, criminal elements are still at play. In December 2020, for example, Connecticut authorities pulled over a moving truck filled with $15 million worth of marijuana. Drug trafficking is still an issue. However, court cases in states where marijuana is legal have declined by as much as 85 to 98 percent, according to the Reason Foundation.
While overall cannabis-related crime is down, growers and dispensaries still need to guard against criminal elements – from the inside and out. Desperate people can go to desperate measures, and sub-standard security can make your operation an open target. You don’t know who may be eyeing your operation for a criminal opportunity, or who may be working with someone on the inside. Although you shouldn’t be paranoid, a healthy dose of safety and security helps you protect your business. Stringent hiring procedures are recommended. Furthermore, a cannabis vault is the best way to ensure secure storage.
Protect the Potency of Your Products
Cannabis vaults offer protection from changing temperatures and humidity. Marijuana is a plant. And like every plant, it may change its chemistry due to outside influences such as temperature and humidity. Even sunlight can affect the potency of THC and marijuana. The right cannabis vault can keep your items safe in storage when your facility is closed and you need to keep extra stock in the back.
Enhanced Inventory Control
Every retail business needs good inventory control processes and cannabis is no exception. In fact, most states oversee inventory control for cannabis operations with an extra dose of diligence. A cannabis vault enhances your inventory control processes because you control who has access to the secured part of your business. When your inventory is accurate, you can measure profitability more easily.
Cannabis Vault & Your Bottom Line
Customers who know your inventory is safe, secure, and efficacious understand that you’re a trusted resource for their cannabis products. A cannabis vault is one way to build trust for your brand. Plus, it’s a one-time investment that lasts as long as you’re in business, like future-proofing your dispensary. Contact CustomVault, and we’ll start discussing your requirements.