Blockchain technology in agriculture supply chain

March 28, 2022

Businesses in the agriculture supply chain management industry are coming up with novel technologies to perk up efficiency and curtail transportation costs to a significant extent. Blockchain is one of those avant-garde technologies that can not only help with hassle-free transactions between parties, but also makes sure it’s done in the safest way possible. Blockchain eradicates the need for intermediaries who were formerly required to operate as reliable third parties to authenticate, validate, record, substantiate, and organise transactions by ‘sharing’ catalogues amongst numerous parties.

Moreover, proper utilisation of blockchain in the agricultural supply chain comes up with a dependable and consistent source of facts about the status of farmsteads, catalogues, portfolios, and agricultural indentures that are quite expensive. Thus, it’s believed that proper use of blockchain in the agriculture supply chain management sector will make the conveyance of agriculture goods more translucent and effective. This high-end technology can impeccably use the required know-how to expedite transportation, checkout, and transportation specifics, to help the industry run efficiently. According to Allied Market Research, the global agriculture supply chain management market is estimated to have a noteworthy CAGR from 2021 to 2030.

Modern blockchain applications for different supply chain and logistics purposes can also produce energy, commercial and ecological benefits. At the same time, blockchain can save outlays and overheads by propping up more supple, more error-free and automated methods. And, by enhancing the probability of supply chain set-ups, it can also aid in forming an unswerving food supply chain, thus creating a bridge of trust between the consumers and the producers. It is projected that the application of blockchain technology in the agriculture supply chain management sector will have a deep and weighty impact indeed. More and more integration of cutting-edge technologies will pave the way for more systematised & well-structured operations and is also anticipated to boost the proper growth of the agriculture supply chain management market in future.

Here, it’s worth mentioning that the success of initial processing-based supply chain management would take in value-added relationships between transportation within organisations and warehousing on account of concentrated inventory and improved response time to consumer requests for respective services and products. Supply chain management then passed in a logistics stage where other functional extents within the establishments joined forces to slot in procurement, transportation, manufacturing, delivery, and most importantly, advertising to successfully compete in the marketplace. This phase was abetted by the utilisation of electronic data edges, information technology, and other technological developments that made the transmission of information more obvious and apparent across the functional expanses between businesses.

Michael Regan, the EPA Administrator in the United States has recently declared a statement in support of National Agriculture Day giving out heartfelt thanks to the farmers for their work to yield fuel, fiber, feed and food. Regan also conferred the very importance of the organisation’s recently chartered FRRC (Farm, Ranch and Rural Communities Advisory Committee).

On the other hand, in India, SLCM Group’s patented solution, Agri Reach, permits real-time surveillance and observation of crops. The development offers widespread services such as audit revenues, quality control, investigation and stakeout. This, in turn, helps the agriculture specialists keep up crops health in warehouse and guarantee prime quality taking recourse to an array of methods, reviews, inventories, and tracking of the amenities in real-time. Agri Reach also comes with the potential to set up industry-standard warehouse procedures anywhere across the nation within twenty-four hours. The influence of Agri Reach enactment across the business plumbs of SLCM Group has given way to outstanding growth, which is regarded as an industry standard.

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