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1 – 3 of 3Prateek Kumar Tripathi, Chandra Kant Singh, Rakesh Singh and Arun Kumar Deshmukh
In a volatile agricultural postharvest market, producers require more personalized information about market dynamics for informed decisions on the marketed surplus. However, this…
Abstract
Purpose
In a volatile agricultural postharvest market, producers require more personalized information about market dynamics for informed decisions on the marketed surplus. However, this adaptive strategy fails to benefit them if the selection of a computational price predictive model to disseminate information on the market outlook is not efficient, and the associated risk of perishability, and storage cost factor are not assumed against the seemingly favourable market behaviour. Consequently, the decision of whether to store or sell at the time of crop harvest is a perennial dilemma to solve. With the intent of addressing this challenge for agricultural producers, the study is focused on designing an agricultural decision support system (ADSS) to suggest a favourable marketing strategy to crop producers.
Design/methodology/approach
The present study is guided by an eclectic theoretical perspective from supply chain literature that included agency theory, transaction cost theory, organizational information processing theory and opportunity cost theory in revenue risk management. The paper models a structured iterative algorithmic framework that leverages the forecasting capacity of different time series and machine learning models, considering the effect of influencing factors on agricultural price movement for better forecasting predictability against market variability or dynamics. It also attempts to formulate an integrated risk management framework for effective sales planning decisions that factors in the associated costs of storage, rental and physical loss until the surplus is held for expected returns.
Findings
Empirical demonstration of the model was simulated on the dynamic markets of tomatoes, onions and potatoes in a north Indian region. The study results endorse that farmer-centric post-harvest information intelligence assists crop producers in the strategic sales planning of their produce, and also vigorously promotes that the effectiveness of decision making is contingent upon the selection of the best predictive model for every future market event.
Practical implications
As a policy implication, the proposed ADSS addresses the pressing need for a robust marketing support system for the socio-economic welfare of farming communities grappling with distress sales, and low remunerative returns.
Originality/value
Based on the extant literature studied, there is no such study that pays personalized attention to agricultural producers, enabling them to make a profitable sales decision against the volatile post-harvest market scenario. The present research is an attempt to fill that gap with the scope of addressing crop producer's ubiquitous dilemma of whether to sell or store at the time of harvesting. Besides, an eclectic and iterative style of predictive modelling has also a limited implication in the agricultural supply chain based on the literature; however, it is found to be a more efficient practice to function in a dynamic market outlook.
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Rachita Gupta and Ravi Shankar
Food insecurity is a major concern for developing economies. Operational inadequacies get introduced with unorganized interactions among stakeholders in the food supply chain…
Abstract
Purpose
Food insecurity is a major concern for developing economies. Operational inadequacies get introduced with unorganized interactions among stakeholders in the food supply chain, affecting social, economic, environmental and operational (SEEO) aspects of a nation. This study analyzes India's largest food safety net program, Public Distribution System (PDS) and develops a perception-based model, mapping the root causes (of food insecurity) with possible solutions. The novelty lies in leveraging blockchain in the implementation of food traceability system.
Design/methodology/approach
Soft system methodology (SSM) is used to identify and analyze problems in PDS, leveraging the learning and inquiry process. It relies on system thinking and action research to create a defendable and rational model, which helps in proposing recommendations for addressing the problem.
Findings
Blockchain-enabled food traceability system increases transparency, thus enabling the fulfillment of basic food necessities for beneficiaries.
Practical implications
The proposed model enables policymakers to build a profound understanding of existing operational issues and provides insightful recommendations for making informed decisions to deal with the grave issue of food insecurity.
Originality/value
Unlike previous studies, this research attempts to understand operational inefficiencies during interactions among stakeholders. It proposes a perception-based conceptual model for the final implementation at the ground level. It also reveals significance of three systems: a delivery system, an enabling system empowering delivery system and a criteria system to control and monitor processes. This study thus bridges an important gap in the literature by proposing a blockchain-driven traceability system, under the control of criteria system, through the integration of system-thinking and action-research approach.
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Janpriy Sharma, Mohit Tyagi and Arvind Bhardwaj
This study aims to ground the assessment of the various costing perspectives associated with the dynamics of processed food supply chains (FSCs), for questing the avenues of…
Abstract
Purpose
This study aims to ground the assessment of the various costing perspectives associated with the dynamics of processed food supply chains (FSCs), for questing the avenues of profitability within a food processing enterprise.
Design/methodology/approach
This study underpins the development of the relation hierarchical model, binding the cluster of the key costing enactors, with the various incurred costs in the food supply chain performance system. The developed model is seeded by the inputs gathered from the case enterprises under consideration, which is further contemplated by extending the fundamentals of bipolar fuzzy sets with the methodology of ELECTRE-II.
Findings
Secured primacies owing to the mutual correspondence between the costing cluster reveal the impact of procurement cost in the dynamics of FSC. Furthermore, an inference is grounded relative to the other entities of total costs like investment, production, transportation, distribution and retailing by considering the perspective of a case enterprise. It yields that procurement costing procedurals need to be deliberated supremely, considering the vitality of the costing perspective associated with the other procedurals of the case enterprise.
Originality/value
The framework developed in the presented work clusters the various costing enactors along with the costings in processed FSCs, binding its holistic perspective rather than the discrete approach. The present research work provides an origin to explore the various miniatures more precisely succeeding to secure primacies for upscaling the profit-cost notions. As costing determines the avenues bundled with the production and consumption of various food commodities.
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