According to the latest Global Report on Food Crises (GRFC), approximately 282 million individuals in 59 countries and territories witnessed high levels of acute hunger in 2023. The numbers saw a growth of 24 million compared to the previous year. Strengthening the supply chains around the world is one of the most effective ways to reduce the food insecurity crises.
Blockchain and its applications are set to revolutionize the supply chain sector across various industries. Agriculture is one of the sectors exploring opportunities to embrace blockchain-based tools and services to streamline the supply chain from farm to table. Various agricultural supply chain services develop blockchain-based supply chain tools to simplify the supply chain.
According to a recent report by Kings Research, the global agricultural supply chain service market size is projected to reach $1,822.4 million by 2030, growing at a CAGR (compound annual growth rate) of 10.02% between 2023 and 2030.
In this blog, let us have a look at the key players in the agricultural supply chain market.
Top 10 Agricultural Supply Chain Management Services in 2024
Given below is the list of the best vendors that offer robust supply chain management tools to simplify agricultural distribution:
1. IBM Corporation
IBM Corporation provides a range of agricultural supply chain services. These services are designed to improve efficiency, transparency, and sustainability within the agricultural sector. The latest technologies, such as AI, blockchain, and IoT, are integrated into the supply chain to enhance various aspects of operations.
IBM Food Trust offers a blockchain-based solution that increases traceability and transparency in the food supply chain. IBM Watson's decision platform for agriculture has AI and data analytics integrated to offer actionable insights to farmers. The company also supplies IoT-based solutions that enable real-time monitoring and management of agricultural operations. The supply chain solution offered by IBM for agricultural purposes improves multiple aspects of the supply chain, right from procurement to distribution. These solutions support sustainable farming strategies and reduce carbon footprints. It also helps the cultivators to ensure compliance with environmental regulations.
2. Trellis LTD
Trellis LTD is a leading company focused on providing advanced technological solutions to optimize agricultural supply chains. The company offers a holistic supply chain intelligence service that gives real-time visibility and predictive analytics. This solution allows stakeholders to manage the entire supply chain efficiently by integrating data from multiple sources.
The platform has machine learning and AI integrated that forecast demand, yield, and supply chain disruptions. These predictive analytics help make informed decisions and improve inventory management and timely distribution of agricultural products. The company gathers data from multiple sources, such as weather forecasts, soil sensors, market trends, and historical data.
Trellis leverages advanced analytics to assist farmers and agricultural businesses in improving crop yields. The tool identifies and mitigates risks related to weather, pests, and market fluctuations. It keeps track of various sustainability metrics, allowing farmers to embrace sustainable agriculture practices. Trellis integrates blockchain technology to ensure transparency and traceability in the agricultural supply chain. This secure and immutable ledger helps track the provenance of agricultural products, ensuring authenticity and quality for consumers and stakeholders.
3. AgriDigital
AgriDigital provides innovative agricultural supply chain services. The company utilizes blockchain technology, smart contracts, and cloud-based platforms to streamline processes. AgriDigital’s blockchain platform ensures secure, transparent transactions throughout the agricultural supply chain. Recording transactions on an immutable ledge helps improve traceability, reduce fraud, and develop trust among participants.
The company delivers an effective commodity management system that helps manage contracts, deliveries, and payments for agricultural commodities. Additionally, the platform even has smart contracts to automate and enforce contract terms between parties. It also has inventory management tools that give stakeholders a real-time view of the inventory. These tools enable the farmers, traders, and buyers to keep track of stock levels.
AgriDigital’s agricultural supply chain service facilitates secure and instant payments through its platform.
4. Bext Holdings Inc.
Bext Holdings Inc., also known as bext360, offers innovative agricultural supply chain services. The platform offered by the company has embedded advanced technologies such as blockchain technology, AI, machine learning, and IoT. It provides comprehensive services that optimize the traceability and quality control of agricultural products.
Bext Holdings gives blockchain-based traceability to ensure end-to-end traceability of agricultural products. The company employs AI and machine learning to analyze data collected throughout the supply chain. It is an efficient way to identify patterns, predict outcomes, and optimize processes.
Bext Holdings Inc. integrates IoT devices to collect real-time data. The platform collects data on various parameters such as soil health, weather conditions, and crop quality. Farmers can embrace solutions for quality control and authentication of agricultural products. Through advanced analytics and real-time monitoring, Bext Holdings Inc. helps optimize supply chain operations.
5. GrainChain, Inc.
GrainChain, Inc. provides robust agricultural supply chain service. By adopting blockchain technology, IoT, and smart contracts, GrainChain aims to revolutionize how agricultural commodities are tracked, managed, and transacted. The company allows the parties involved in the supply chain to have an immutable ledger. This ledger records every transaction, ensuring data integrity and building trust among stakeholders.
The supply chain management platform provided by GrainChain has self-executing contracts to ensure that payments and deliveries are made as per the contract terms. This approach reduces the risk of disputes and delays. Furthermore, it offers comprehensive tools for managing the procurement, storage, and sale of agricultural commodities.
GrainChain’s agricultural supply chain tools track the origin and journey of agricultural products.
6. ChainPoint
ChainPoint delivers advanced agricultural supply chain services. The services provided by ChainPoint integrate blockchain technology, data analytics, and IoT to deliver a comprehensive platform for managing and optimizing agricultural supply chains. ChainPoint’s supply chain management platform allows stakeholders to track products from farm to table. This approach assists in ensuring product authenticity and quality.
ChainPoint collects data from multiple sources, such as IoT devices, sensors, and third-party systems. It creates centralized data servers which allows the users to have real-time monitoring and analysis of supply chain operations. The company enables seamless collaboration among all stakeholders in the supply chain, from farmers to retailers. The tool gives predictive analytics and real-time alerts. It allows stakeholders to take proactive measures to minimize potential disruptions.
7. LexisNexis Risk Solutions (Proagrica)
Proagrica is a subsidiary of LexisNexis Risk Solutions that offers a wide range of advanced agricultural supply chain services. The company takes advantage of data analytics, connectivity, and integration technologies to offer comprehensive services. These supply chain services for agriculture allow stakeholders to improve decision-making and operational performance.
Proagrica specializes in integrating data from various sources across the agricultural supply chain. This includes farm management systems, machinery data, satellite imagery, weather data, and market information. The platform consolidates the data from all the various sources to offer a holistic view of the distribution chain.
The farm management software offered by Proagrica assists farmers in planning, monitoring, and managing their agricultural activities.
8. Agri Value Chain
Agri Value Chain has a variety of agricultural supply chain services to offer to its clients. The company relies on advanced technologies and innovative solutions to provide comprehensive services that address the needs of all stakeholders in the agricultural supply chain. It provides efficient supply chain management solutions that streamline the flow of agricultural products from producers to consumers.
Agri Value Chain delivers tools and systems for monitoring and maintaining the quality of agricultural products throughout the supply chain. It has a risk management platform that helps identify and mitigate risks associated with weather, pests, market fluctuations, and supply chain disruptions.
9. Geora Ltd.
Geora Ltd. has expertise in providing innovative agricultural supply chain services. It puts a strong emphasis on integrating advanced blockchain technologies to improve transparency, traceability, and efficiency. Geora Ltd. aims to revolutionize the agricultural supply chain through data integration, smart contracts, and real-time analytics. The company empowers stakeholders to optimize their operations and achieve their goals in the agricultural industry. Geora provides secure and efficient financial services, facilitating instant and transparent payments within the supply chain.
10. Eka
Eka is a pioneer in offering advanced agricultural supply chain management services. The offerings encompass a wide range of services that integrate technology to streamline operations and optimize decision-making capabilities. It offers comprehensive commodity management solutions tailored for the agricultural sector. These solutions include functionalities for managing contracts, procurement, logistics, and inventory across the supply chain.
Eka provides robust risk management tools to mitigate risks associated with market volatility, weather fluctuations, and supply chain disruptions. The solutions cater to multiple stakeholders, such as farmers, traders, processors, and retailers.
Wrapping up Top 10 Agricultural Supply Chain Management Services in 2024
There is a notable amount of research and development happening in the agricultural sector to ensure food security for the entire population. Strengthening the supply chain is one of the key factors that would help to revolutionize the procurement and distribution of food globally. The above-mentioned companies are major players in the agricultural supply chain market that are streamlining the distribution chain globally with the latest technologies.
