Challenges

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Challenges in the Aquaculture Supply Chain

Fragmented Supply Chain

The aquaculture industry is characterized by a complex network of suppliers, processors, distributors, and retailers. This fragmentation can lead to inefficiencies, such as duplicate inventory, missed deliveries, and communication breakdowns

Lack of Transparency

Consumers are increasingly demanding transparency about the origins of their food. However, the aquaculture supply chain is often opaque, making it difficult to track the provenance of aquatic products. This lack of transparency can raise concerns about sustainability and food safety

Limited Financing Options

Many aquaculture businesses, particularly small and medium-sized enterprises (SMEs), struggle to access financing. SCF solutions can provide much-needed working capital to help businesses grow

Inability to Precisely Forecast Market Supply

Farmers often struggle to accurately predict market demand for their products due to a lack of reliable data and insights. This uncertainty can lead to overproduction or underproduction, resulting in economic losses for farmers. Additionally, middlemen often control the market, limiting farmers' earnings and reducing buyers' access to top-quality products.

Inefficient Planning and Forecasting

Inaccurate forecasting can lead to stockouts or excess inventory, both of which can erode profits. Generative AI can improve planning and forecasting by analyzing historical data and identifying patterns.