MJBiz Buyers Guide: Cannabis Packaging 23 - 15
MJBizDaily Buyers Guide Cannabis Packaging
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THE IMPORTANCE OF FORECASTING
Packaging providers should think in advance about mainstream and cannabis holidays such as 4/20
(April 20) and National Oil Day (July 10). These and other holidays should play a part in packaging
industry forecasts.
" Forecasts and accurate data and safety stock are key in this new industry, " Ward said. " I think
the industry is still gathering its data, and it's learning what the seasonality looks like. ... It's still
changing as the industry grows. "
For that reason, Ward recommends that customers keep anywhere from three to six months worth
of packaging on hand so that they never have to worry about running out if demand increases faster
than forecasts. " That way, they don't miss out on growth opportunities as a result of a packaging
bottleneck. "
GETTING AHEAD
Rachel Kane, founder and CEO of Sure Lock Packaging in St. Paul, Minnesota, said that she wants to
know in August what her customer's thoughts are for the winter holidays.
" It's early, but my clients need to really be thinking about that now, " she said. " Like looking at
numbers from last year so that they have time to digest where sales were last year and where
they are currently. ... What products are selling fast, for instance, so that they really start making
educated guesses, and they're not over-ordering packaging or under-ordering packaging. "
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https://www.usatoday.com/story/news/2023/04/19/420-meaning-weed-association/11689472002/
https://cannabistraininguniversity.com/industry/what-is-710-oil-day/
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MJBiz Buyers Guide: Cannabis Packaging 23
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