When running any operation (farms included), there’s a system of input resources that are used for a crop during the course of the season. Growers, my family included, use farm management software to keep track of what resources are available and what are currently in use. One such instance is an app that allows us to record field resources then track them en route from the field to many different storage areas or to the elevators.
If those resources are then sold to another company that sells food or drink products, that company is able to offer a competitive advantage by showcasing the growing practices of the source of their ingredients. One instance of this is McDonalds when they changed their supply chain to include farms that were free range and sustainable. They were able to discuss the growing practices of their suppliers because they easily had access to the data at their fingertips.
Inventory Management
The blockchain is perfect for inventory management of crops because the decentralized avenue of blockchain recording. When a record is updated, the transaction gets added to the ledger on the blockchain and any device is updated fairly instantly. If you have a mobile device with Internet access out in the field with you, you can access the updated records as soon as the home office updates and vice versa. And if you don’t have access to Internet out in the field, the device will sync when you get online again.
Crops aren’t the only thing that are inventoried on a farm, either. We have to keep track of maintenance on our equipment and the status of any sensors or recording equipment out in the field. Equipment maintenance logs are especially important for larger growing operations that have multiple areas of operation and multiple pieces of the same type of equipment. Having a “real-time picture” of what your fleet looks like is a game-changer and saves so much precious time.
Blockchain technology will seriously shake up the farming industry and its so exciting to watch! My parents don’t understand the importance of this technology yet because they really aren’t interested in technology. But, that’s what they have me for, right?
I would love to hear your thoughts on how blockchain technology is impacting farming or other industries!
Thanks for reading,