Wednesday, November 27, 2019

Value chains can boost profits

Participating in a value chain can boost profits, but it appears that farmers are reluctant to trust people.

John Greig writes about a recent conference in Miami that the food industry has been slow to adopt blockchain management, even though significant benefits have been idenfied.

Blockchain is a system of highly secure ledgers, lists of information and repositories of data that are trusted by players in the chain and make information, and especially money, exchanges more efficient, Greig writes.

Speakers at the Sustainability and Digitization Leaders agriculture conference held recently in Miami said there are opportunities to improve efficiencies.

Martin Gooch, founder and still head of Value Chain Management International Inc. of Oakville, has done a number of studies showing how many things can be improved by building trust, sharing information and working on mutually-beneficial goals.

The institute’s most recent study has been about food waste and surprised many people with its findings that waste is much greater than most people assumed.