AgNext: Using AI to solve purchase quality issues for agribusinesses
Presently, global agri-trade is a by-product of quantity and quality. While quantity has uniformity all over the world, when it comes to quality it still has to grow its green shoots.
Purchase quality of food commodities directly impacts the measure of financial transactions in agricultural post-harvest value chains. However, lack of qualitative norms means there is no standardized scale to define, measure and assess quality in real time and on–site at the time of food procurement. This creates a huge gap in accuracy of food purchase quality as the assessments are majorly manual, subjective, delayed and prone to human-error.
The result is a trust deficit in food supply chains, and leads to tangible as well as intangible losses for agribusiness involved in the food trade.
What does it cost?
Lack of technologies for instant and accurate assessment of food, impacts every stakeholder in the agriculture value chain. It is estimated that present qualitative systems of assessment are incurring a loss of more than $100 billion every year.
In the food value chain, maximum compromise in quality is experienced at the procurement level. At the farm-gate, months of effort to grow a commodity by the farmer gets subjectively assessed in just five minutes, which can often lead to unfair price realization ranging between 20-30%.
Then, after procurement at the stage of warehousing, on account of the lack of predictive quality estimations on-site for frequent quality checks, large quantities of food get wasted. Estimated loss is more than 30% of the gross crop value. In monetary terms, billions of dollars worth of food is lost which has a direct bearing on business productivity and profitability.
As the commodity moves to the processing level, 3% of the trade value of the commodity is lost on account of high assessment and people retention costs. At the same time, adulterated value chains hurt brand reputation badly and the losses incurred cannot be monetized.
The Need of the Hour
With deeper penetration of digital technologies in all domains of human life, it is evident that deployment and adoption of unique tech-driven solutions hold the key to solve the problems inherent in legacy systems that hamper the Indian agriculture sector.
Agri-businesses worldwide are now looking for integrated technology-based solutions, which can provide instant, automated and on-spot assessments for quality estimation and monitoring across the value chains. At the same time, agri-companies are looking to procure better quality food at right prices by relying on data-led technology-enabled decisions.
Go Digital With AgNext
By developing innovative quality assessment algorithms, AgNext has created a fully integrated full stack platform – Qualix, for assessing food quality and enabling digital trade across nodes in food value chains.
Qualix is a SaaS platform that addresses quality assessment issues across agribusiness value chain, enabling companies to analyze food on-the-spot, within 30 seconds, digitizing each and every transaction at buyer-seller intersection. With AgNext’s unique AI/ML-driven technology, you can access all purchase quality assessment requirements at the tap of a button.
Get the right purchase quality instant, on-site and without any human intervention.
Go Digital With AgNext and remove all purchase quality issues, in just 30 seconds.