Large Enterprises/Agri-Commodity houses having their sourcing from indigenous farmers,who are spread globally need integrated solutions to get visibility and tracking into their sustainability factors down to customer bases.

Some of the key factors affecting are:

• Poor visibility in to stock availability and pricing for enunciating a business transaction.
• Manual and lack of standardized process involving multi-parties with data/document exchanges (Purchase Order, Sales Invoice, Good Receipt Note, Weigh Bridge documents, Shipping Instructions, INCO Terms etc.)
• Poor collaboration and co-ordination among channel partners and their business functions and related ecosystem (Custom House Agent (CHA), Transporter, Inspection agency, processing plants etc.)
• Manual paper-intensive activities that are error-prone and long cycle times.
• Manual reconciliation and matching for document submissions and receipt of payment leading to delayed payments.
• Little to no exposure on third-party risk management or extended supply chains and non-compliances to multi-geographic jurisdictional requirements.
• Limited ability to perform analysis due to data holes and lack of ability to handle supply chain disruptions that can be mitigated using system & technology.

Agri-commodities players use Farm First as a unified solution across supply chain applications and data for demand fulfilment with direct access to the farmers in real-time. It is used by 45,000 indigenous farmers to reach and deliver to the Agri-processing units for on-time delivery to the export houses.

Digitally connecting farmers around the world and ability to enhance that connection like never before with new generation technologies is a real-game changer for on-time delivery, provenance and for availing financing.

The integrated mobile application with blockchain platform capabilities prevents costly delays and improves efficiency across the ecosystem. The data/documents are shared and trade happen paperless within the network using the integrated solution on platform.

Key part of transformational business model is getting on the digital front and collaborating using the platform. It will have a profound impact on how businesses transact and participate in global transactions with integrated offerings.

The key aspects of it are:

• Integrated dltledgers mobile application and blockchain platform to run smart contracts in a digitally integrated system.
• Organisations can place an offer and receive bids via the mobile application among contract farmers. The acceptance will trigger a smart contract execution process. Stock availability, Inspection of stocks to specifications, and receipts of goods at warehouses prior to export will be validated by all the counter-parties such as surveyors, processing plants, freight forwarders etc., allowing seamless network execution digitally, ensuring the validity of the transaction.
• Supply chain participants are able to access real-time updates on commodity prices and delivery information as well as trade financing for orders from any part of the world. Buyers can also look into the sources of their commodities, learn details of their trade more easily, and trace the information to achieve sustainability objectives.
• Quicker processing allows goods to be shipped earlier, reducing charges at storage centres and interest costs to participants. Farmers were also able to receive payments for their goods more quickly.