RFID-enabled technology secures cannabis products with a unique digital identity
Identiv, Inc. (NASDAQ: INVE), global digital security and identification leader in the Internet of Things (IoT), and TrueGreen, a cannabis technology company focused on operational efficiencies through digitizing packaging, today announced the innovative deployment of the world’s first smart tamper seal using radio frequency identification (RFID) technology designed to deliver, along with the TrueGreen software as a service (SaaS) platform, digital transformation in the cannabis industry.
Identiv and TrueGreen collaborated to develop three new multi-use smart tamper seal designs that were deployed into the market this year. The companies spent over a year ideating, developing, and testing the products to ensure that the tamper seal works on all packaging types and styles across the industry, regardless of material or size. Each tag contains embedded RFID technology that works with the TrueGreen SaaS platform to track SKU-level inventory across the cannabis supply chain. The tags go onto the packaging as a tamper seal when products are placed in their final container. The TrueGreen system can then be used to automate vault inventory reconciliation with compliance systems and also automates order fulfillment and other manual processes, including data entry, as products move throughout a building and to dispensaries. The seals also allow test results and product information to be embedded into the label so the information is delivered directly to consumers in stores and at home. TrueGreen’s solution integrates directly into an operator’s existing operations and systems; customers are not required to change their existing tech systems or standard operating procedures, or download any new software or applications.
“Managing inventory in the cannabis industry can be incredibly complicated because every state has different regulations on packaging, different standards for compliance, and the supply chain issues are endlessly frustrating and changing every day,” said Katherine Lagow, President, TrueGreen. “I’ve been an operator in this space, I know these issues all too well, so it’s been a very exciting process to work with Identiv on an agnostic solution for a smart tamper seal that we could deploy in this industry. We aimed to provide a unique digital identity to every single physical package, through a certified tamper-evident seal, guaranteeing authenticity and efficiency, and we’ve succeeded in doing that. As a bonus, the embedded technology connects brands and consumers directly, opening a world of possibilities after POS for customer loyalty and streamlined marketing efforts in a very marketing-challenged space.”
TrueGreen’s smart ID platform, in conjunction with the custom-built RFID tamper seal designs, manages the digital identification of each cannabis package. It integrates easily with all the leading seed-to-sale systems and other existing business intelligence systems, making deployments easy to implement. The smart seal enables digital transformation by embedding licensed producers’ and operators’ key business system functions and metadata into the package itself, further allowing this information to flow into any CRM or ERP system.
In the coming days, TrueGreen will launch its engagement with Standard Wellness, a multi-state cannabis company with operations in Ohio, Missouri, Utah, and soon-to-be Maryland. Like many MSOs in the cannabis industry, Standard Wellness is seeking ways to reduce its labor costs, streamline operational bottlenecks, and create a more data-driven and data-focused operation across all state lines.
“Our partnership with TrueGreen is transforming the operational aspect of the cannabis marketplace from product packaging to post-sale engagement,” said Amir Khoshniyati, VP and GM Transponders, Identiv. “We have continuously been building capacity to fulfill the exponential demand between the various multi-state operators (MSO), including Standard Wellness, both at the dispensary and wholesale operations. As just a first step, we’re delivering several million units over the next few months in support of TrueGreen’s expansive vision to transform the cannabis industry,” added Khoshniyati.
“Standard Wellness is very excited to team with TrueGreen. We expect that integration of their technology will result in significant benefits that this industry desperately needs, from labor savings, working capital reduction, better human capital allocation, and a fuller picture of our sell-through and commercial efforts,” said Jared Maloof, CEO and Founder of Standard Wellness Company.
Identiv’s innovative IoT-enabling RFID and near field communication (NFC) solutions verify identities and security, and are embedded in billions of everyday objects, including medical devices, packaging, mobile device accessories, books, athletic apparel, wine and spirits, perishables, and pharmaceuticals.
Source: Company Press Release