This Standard Practice provides guidelines for managing the lifecycle of physical assets within the cannabis and hemp industries. It covers the acquisition, utilization, maintenance, and disposal of assets such as cultivation equipment and extraction machinery. The standard applies to all industry entities and outlines processes for effective asset use, regular maintenance, and compliant disposal. It also emphasizes the importance of asset tracking and documentation throughout the lifecycle.
asset management
The new standard for Cannabis or Hemp Asset Lifecycle Management is needed to ensure efficient and effective management of physical assets within these rapidly growing industries. As these sectors continue to expand, the standard becomes increasingly critical to ensure regulatory compliance and uphold the quality of operations.
The standard will provide comprehensive guidelines for the acquisition, utilization, maintenance, and disposal of physical assets. It will be primarily used by cultivators, processors, manufacturers, and retailers in these industries, especially those responsible for asset management. The standard's focus is to ensure that the management of these assets aligns with quality management principles, thereby maintaining the high standards of operations and products in the cannabis and hemp industries.
The title and scope are in draft form and are under development within this ASTM Committee.
Date Initiated: 06-13-2023
Technical Contact: Zachary Brown
Item: 000
Ballot:
Status: