Webinar Recap: The Importance of Digital Platforms in Agriculture

Host: Jasurbek Ayupov - Global Market Analyst, HQ

Speakers: Bojan Mijatovic- Global Market Analyst,

Lei Wang - GMI Researcher, China

Eunjin Kim - Product Strategy & Planning Team_NaaS Tribe (Leader), HQ

Alper Akkurt - Global Logistics Specialist, Türkiye

Agenda:

• Leveraging Data for Enhanced Decision Making
  
• Enhancing Market Access and Trade
  
• Panel Discussion

Tridge’s August webinar, “The Importance of Digital Platforms in Agriculture,” presented how digital tools can help buyers and suppliers in the agricultural economy, especially farmers, make better decisions. Tridge’s August webinar also discussed the challenges of applying new technologies in various parts of agriculture and the actions required to realize its full potential across the entire supply chain.

Leveraging Data for Enhanced Decision Making

Tridge Transaction Data Analyzer

Source: Tridge

The first part of the presentation focused on the definition of digital platforms in agriculture. Digital platforms are connecting diverse agricultural stakeholders. These platforms use digital technologies such as the Internet of Things (IoT), machine learning, mobile devices, data analytics, and communication tools to promote interactions, transactions, and information sharing among farmers, agribusinesses, service providers, consumers, and other stakeholders. These platforms aim to improve the efficiency, productivity, and sustainability of agricultural activities by providing tools, services, and collaborative spaces.

Several case studies were presented:

• Grain data solutions- precision farming applications and prediction of foliar diseases and applying pesticides accordingly
  
• IoT in Agriculture China- applications in the agricultural industry with a focus on automatization and reduced labor usage
  
• Transaction Data Analyzer from Tridge, which transforms raw data from global transactions into actionable intelligence.
  

Enhancing Market Access and Trade

The second part of the presentation asserted how digital platforms are improving the farmers' information access, lowering transaction costs, and increasing profitability. Data analytics and predictive modeling aid decision-making, while digital technologies provide secure transactions and enhanced financial inclusion. Agtech companies are shifting from one-time purchases to business-model adaptation and exploring monetization with hardware, software, services, and analytical innovations. Key points include better market opportunities, safe transactions, and trust. Challenges include fragmentation, lack of standard data architecture, and cross-platform interoperability. A case study from Foodshed.io, a mobile app connecting local producers to chefs, supermarkets, institutional buyers, and Tridge digital product coverage, was shown. Finally, a brief overview of key points, summarizing the above mentions of digital platform benefits and suggestions.

Panel Discussion:

The presentation was complemented by a panel discussion where panelists Lei Wang, Eunjin Kim, and Alper Akkurt answered questions from host Jasurbek Ayupov. On the matter of how digital platforms can help decision-making and gain access to better markets from a farmer/supplier perspective, Alper emphasized two key points:

For Decision-Making: Digital platforms provide farmers real-time data and insights, enabling informed decision-making. They offer a virtual dashboard with weather forecasts, market trends, and expert advice, allowing intelligent crop selection, resource allocation, improved productivity, and reduced waste.

For Market Access: Digital platforms are breaking down traditional barriers for farmers, connecting them to broader markets, and enabling fair prices and authenticity. They eliminate intermediaries, making farmers' products more appealing to buyers worldwide.

Lei continued with how digital platforms in agriculture offer several advantages, including establishing effective connections between farmers and consumers, providing technical support through cloud computing, and offering financial services like loans and insurance. These platforms help farmers achieve better agricultural production and economic results, reduce cash flow concerns, and maintain sustainable businesses, ultimately leading to better economic outcomes. Lastly, Eunjin added that digital platforms provide real-time market data, enabling suppliers to make informed decisions on production, sales, and pricing strategies. They also help expand markets, create detailed profiles, and simplify buyer connections. Exhibition 365 offers metrics for premium suppliers, promoting targeted audiences and valid requests for quotes (RFQs).

Eunjin proceeded to answer the second question on how digital platforms can streamline the procurement process and enhance product marketing strategies from a buyer/retailer perspective. Digital platforms streamline supplier connections by offering centralized, organized profiles, product listings, and offers. Buyers can compare suppliers, contact suppliers, and manage their contacts. Real-time market data helps optimize sourcing strategies and identify new suppliers. Platforms also offer tools for online procurement, reducing paperwork and manual processes.

For instance, Tridge Exhibition 365 allows buyers to search for suppliers and upload RFQs. Alper connected Eunjin's answer with his view on digital platforms streamlining procurement by enabling price comparison, quality comparison, online bidding, and product information, enhancing communication, and allowing the buyers to refine marketing strategies. Lei concluded that digital procurement improves efficiency, reduces costs, and enhances supplier management by automating processes, providing real-time data analysis, and streamlining the process for buyers.

Eunjin was the first to answer the final question about what agricultural stakeholders face when implementing digital platforms and how to overcome them with Tridge solutions.. Tridge is developing a service to help suppliers extract actionable insights from incomplete transaction data, transforming it into practical strategies. The service aims to build trust in digital platforms, ensuring their user-centric and user-friendly design in the B2C e-Commerce market.

Lei tackled the issue and concentrated on three main points: low application rate, price war, and package and logistics. Alper closed the panel discussion with an answer that digital platforms are revolutionizing the agricultural sector by providing technology, data privacy, and security. Governments, non-governmental organizations (NGOs), and private organizations can give affordable smartphones and tablets to rural farmers, while rural broadband infrastructure enhances internet connectivity. Collaboration with telecommunication companies enhances connectivity.

Click here to view the recording of the webinar, or click here to view the slides.