2020 was a moment of awakening of sorts for many sectors. None more than agriculture and food. While both global and local supply chains were disrupted, the world realized the need to build resiliency into our food systems.
Here are top 5 trend predictions for 2021:
1. Digitization will be accelerated:
The pace of digitization across value chains will see a significant spike in 2021. From small farmers to food majors, adoption will increase at both ends. The global lockdown drove home the need for digitization and we are already seeing an uptick in activity.
2. Call for sustainability will become more urgent:
Governments, corporates, farmer communities – there will be an urgency for climate action across the board. 2020 has been a great consensus builder and we should be able to see concrete and increased action by all stakeholders in 2021.
3. Data based collaboration will rise: Supply chains are going to get shorter, as much due to efficiency and transparency concerns. The ones with accurate and shareable data in the ecosystem will more chances of entering into fruitful collaborations. Datapoints across the value chain will start getting monetized.
4. Trust will become more and more tangible: The gap between what food brands claim and what they sell will have to be narrowed in a provable manner. Customers will like have more information on sourcing, sustainability and supply chains. All that was previously invisible will now become selling points and technology will have a large role to play here.
5. Global trade will be turbulent: Trade in agricultural produce and food products will be subjected to more scrutiny. Exporters will have to work harder to maintain their share of the trade. Legislation, consumer awareness, ecological concerns and geopolitics will combine to make cross border trade increasingly intent on safety.
SourceTrace has remained ahead of the shifting markets by providing a platform that meets most pressing requirements of agri and food companies with ease. SourceTrace enables businesses:
• Prove product origin with blockchain based traceability
• Adopt and keep track of sustainability measures
• Aggregate, train and monitor farmers on new growth practices
• Make supply chains transparent and enable easy collaboration amongst value chain partners
By bringing complex solutions onto a single platform, SourceTrace reduces dependency on multiple legacy software, ERP and data management systems. It simplifies even the most complex technology footprint to give an unified interface to you and your value chain partners.