Blockchain Empowered: Revolutionizing Agro-Based Supply Chain Management

Abstract

Agriculture, the mainstay of rural India, provides livelihoods to 70% of the rural populace. However, it is beleaguered by supply chain inefficiencies, leading to losses of up to 5.99% in cereals and a whopping 60% yield loss for farmers. The prevailing supply chains are often shrouded in obscurity, with a scant 6% of businesses having complete visibility. This lack of transparency culminates in inefficient processes and potential delays in order fulfilment, engendering customer dissatisfaction and financial losses. The emergence of blockchain technology, however, offers a beacon of hope. Blockchain provides a transparent platform where all stakeholders can access and verify the movement of goods. This transparency not only bolsters customer trust but also enhances their satisfaction levels. Moreover, blockchain technology optimises inventory management and logistics, thereby reducing waste and boosting productivity. These enhancements translate into substantial cost savings. The advent of blockchain could revolutionise agricultural supply chains in India. By providing a transparent and efficient system for tracking the movement of goods, blockchain could eliminate many of the current inefficiencies. This would not only lead to increased profits for farmers but also ensure that consumers have access to fresh and high-quality produce. Furthermore, the use of blockchain could also promote sustainable farming practices by making it easier to track and verify the use of environmentally friendly methods. In conclusion, blockchain technology has the potential to transform the agricultural sector in India, making it more efficient, transparent, and sustainable. Keywords— Blockchain, Agriculture Supply chain management, Agriculture-based industries, Traceability, Smart contracts, Food quality monitoring, Sustainability.