BioTrackTHC Helps Marijuana Businesses Track Inventory and Comply with Regulations

Four years ago BioTrackTHC, which is based in Fort Lauderdale, Fla., had fewer than 20 customers for its “seed to sale” marijuana tracking software. Now the company serves more than 1,600 businesses and five state governments, offering inventory management software for individual companies, and industry-tracking systems to state governments to monitor the legal marijuana production and sales activity in their state.

Along with the inventory management, point-of-sale, and data reporting and analysis that a typical business owner needs, BioTrackTHC is built to support the myriad legal requirements that vary by state, sometimes tracking marijuana down to the last fraction of a gram. Those additional legal requirements make business management software in the young industry critical, said Patrick Vo the company’s CEO.

The BioTrackTHC inventory system starts with marijuana plants, seeds, and clones, and each is given its own unique identification number which is affixed as barcode, RFID, or Bluetooth tag. From there, the system carries that information through to the final product, for example, a pot-infused brownie. When the plant is divided into bud for smoking, trim for extracts, and waste, each of those receives a unique identification number that relates it to its source. Later, the extract made from the trim will have a related tag and the brownie it becomes part of, will have a related tag.

– Read the entire article at Forbes.