Humans have a strong bond with their pets, they readily invest in pet care and pet food for health, happiness, and concern.
The blockchain is an open and decentralized public ledger. The overall experience of transactions in the food industry is about to transform. The quantum of pet food processing is rising to meet the demand increased due to change is human psychology and spending capacity. Blockchain technology shortens the food manufacturing and supply chain processes that can help in maintaining the quality of pet food and speedy delivery.
The food industry has huge and complex processes that engage various parties like farmers, manufacturers, sellers and suppliers or vendors. Pets receive a lot of attention from owners and their food requirements have changed recently, it also included processed food.
Identification and Rectification of Issues with Blockchain Solutions:
- Food Quality: The quality, taste, production, and packaging of Pet food gained importance with the rising significance of pets in human lives. Developing blockchain technology helps the companies accomplish quality and safety goals of pet food. Blockchain can maintain transparency, highlight quality or delivery issues even if food is infected, at any stage like production, supply chain etc. Technology can provide proof of mismanagement in any stage by any party involved in a trade, increases chances of rectifying an error. Food Nutrition is important to the pet owners for the overall health of pets and the nourishment they need. Healthier pet food, comparative charts, competing companies, and freshness of pet food is extremely important to the owners and the quality in long run assures sales.
- Reduced Food Wastage: The ample of excuses for food spoilage, delay in shipment, broken seals of packages and supply of food after expiry date and many other issues can now be eliminated and managed efficiently, in turn, it saves a lot of pet food. Pet food now preserved during the supply chain with the blockchain data reduces wastage. Corrective actions can reduce business losses and shorten the sales cycle. Blockchain ensures food safety by the traceability and transparency due to records maintained centrally. Manipulation of data is not possible with the appended information and non-deletion or no edit facility.
- Agricultural Produce: Blockchain technology allows buyers and pet food manufacturers to track the quality harvest and packaging. Check on the nutritional values against the buyer’s specifications is simplified and it reduced tracking costs once the processing starts. Linking of the costs added at several stages with the business requirements can chart profits or losses more precisely. It introduces operational expertise starting from the crop level. Obtaining updates on crops and its quality and dispatch to manufacturers is stored on blockchain registers online.
- Pet Safety: The ingredients used in manufacturing pet food if as per the Food and Drug Administration (FDA) standards can save lives of pets who cannot check the expiry dates or food contents and owners can check manufacturing date or expiry, whether the food specifications are available or not. Small precautionary measures can save the lives of pets and reduce the death rate due to negligence.
- Responsibility: Previously the responsibility of quality of food, packaging, or dispatch denied by people involved was uncontrollable but with blockchain, the clarity in ownership, and responsibility reduced losses. Data access is controlled; logins authorized can provide better control over processes. The supply chain is long but the technology reduces the involvement of middlemen and increases trust between the buyer and the company or seller. The control is due to clearly stored documents and instructions of preferences, contents, and delivery. No hard copies in the process save time and efforts of maintaining documents.
- Delivery Schedule: Blockchain technology informs the producers, buyers, and end customers about the status of delivery and clear instructions relating to the delivery are available to supplier and transporter, thus making transition peaceful.
- Payment Cycle: Blockchain speeds up payments due to speedy verification of products and accurate delivery of consignments. The increase in sales is due to online platforms such as Amazon; Chewy selling the pet food and the industry is not just facing competition but competing differently. Innovation in the pet food industry is possible with the technological support in data of preferences, allergies or health concerns of pets and price range pet owners are willing to pay. Constraints of data entered on blockchain are only of repetitive entries in case of corrections but still checking the log is easy as the data appended in displayed on top.
Positive and market forecasts of the pet food globally is motivational for the innovators to introduce the pet processed food varieties for the consistent growth to be diverted in sales funnel.
Certainly, blockchain technology has advantages and drawbacks but the latest technology not only improves business but also creates long term relationships necessary for returning customers. Blockchain reduces hindrances of raw material purchase, production, packaging, and delivery eventually reducing costs and challenges of the pet food industry.