Overview of the Food Industry and Need of Blockchain in Food Sector
Globalization in the food sector and its associated markets has resulted in a sharp rise in the number of products and information flows between different countries. Traditionally, the supply chain within the food industry has been vertically integrated along with supply chain partners who are working together to drive efficiencies in terms of lower transaction, operating, and marketing costs and can easily meet consumer demands for quality and safety of food (Rejeb et al. 2020). The food supply chain within the food industry generally is under growing pressure for improving the transparency in the food sector. In this way, there can be an improvement in the trusted information exchange which can further improve the traceability of agricultural products from farms to retailers.
In accordance with this discussion it can be found that assignment help Sydney out that in the food sector, the traceability of the food products and maintaining transparency in the overall supply chain has become a critical issue as there are several scandals which have occurred within the global food supply chain process (Patelli and Mandrioli, 2020). In this regard, an effective traceability system is necessary as the regulations of the food industry across Australia require maintaining the traceability of every ingredient of the food products to its sources. As the consumer demand is increasing for different food products, it is necessary for the management of different companies across Australia to maintain authenticity, quality as well as taste properly. This overall maintenance therefore requires more meaningful information which needs to be maintained and this kind of maintenance demands for the implementation of the new technology. This is also true without introducing and utilising the new technology, this is not absolutely possible for the Australian food manufacturing companies to identify the sources of each product and maintain their data properly (Niknejad et al. 2021). This kind of scenario therefore needs to implement the blockchain technology which further supports the whole food industry and its supply chain process across Australia.
Background of Blockchain in the Food Industry
Blockchain is considered as a digital ledger which is decentralized and transparent in nature. It has revolutionised different industries which also consisted of food. It has the potential to improve food safety and traceability, as well as efficiency. However before knowing its applicability in the food industry, it is necessary for the researchers to find out the concept of blockchain and how it can be used in the food industry (Rogerson and Parry, 2020). In this regard, it should be noted that assignment help Brisbane blockchain has been around for a while and has become increasingly popular in recent years. It is a decentralised digital technology which can easily guarantee the tightly closed and transparent transactions. Furthermore it also creates tamper proof transaction data which can eliminate the need for third-party intermediaries. Community members therefore can be added to a more shared and immutable information report in this context.
Figure 1: Implementation of Blockchain in Food Sector
(Source: sourcetrace.com, 2024)
In accordance with the above discussion, it can be stated that in this regard, blockchain plays an important role in the food industry as it increases both transparency as well as accountability throughout the entire supply chain process within this food sector. Along with this, blockchain also allows the stakeholders to monitor the entire life cycle of a food by tracking the origin, processing and distribution of a product (Vu et al. 2023). This kind of scenario therefore gives the customers access to accurate information about the quality, safety and sustainability of food products which therefore ultimately improves the confidence of their customers. Moreover, blockchain also helps the food sector to improve their meal protection processes, streamline processes, as well as organise the client confidence.
Utilisation of Blockchain Technology in the Food Industry in Australia
The efficiency of food safety, it’s monitoring and verification is greatly enhanced by Blockchain within Australia. On the other hand, it can be found out that there is a lack of technological impact on the food sector of Australia and as a result this country is prone to more complications and risks in the context of their food sector (Xu et al. 2020). However transparency of blockchain can allow the food sector for immediate detection and mitigation of easily preventable foodborne illnesses or recalls, resulting in immediate recall of affected products. This kind of situation not only protects the consumer health, but it also protects the reputations of food manufacturers and suppliers of the country. Hence, within the Australian food sector, the utilisation of Blockchain can easily define the positive impact of them within this industry. Hence, the discussion regarding this is as follows, such as,
Figure 2: Benefits of Blockchain in Food Sector
(Source: sourcetrace.com, 2024)
- Ensuring Traceability and Food Safety
Blockchain can make errorless and immutable report regarding every transaction whichever is made within the food supply chain process of the food sector. It can perfectly ensure the traceability as well as safety of the food. On the other side, as one can understand the proper source of each food transaction, they can verify the overall transperency in the food supply chain process (Khan et al. 2020). The stakeholders can get the permit to verify the accuracy as well as authenticity of all data and information regarding the origin and the authenticity of the products.
- Improving Efficiency in Supply Chain
Within the food sector of Australia, utilisation of Blockchain can improve the overall efficiency in the supply chain process. This can further enhance the assignment help Melbourne inventory management through which the optimisation of the logistics as well as delivery can be possible. In this way, both costs as well as wastes can be reduced.
- Enhancement of Authentication and Quality Control
As a part of maintaining quality as well as authenticity of the products, blockchain can help the organisations to certify their sustainable as well as organic products (Singh and Sharma, 2023). In this way both customers as well as the producers can ensure the authenticity of the products.
Conclusion
However based on the above discussion it can be stated that there are more positive impacts of the utilising the blockchain technology within the food industry across Australia. Hence, for properly maintaining the sources along with the supporting the consumer engagement and trust, one can easily implement the blockchain technology. This kind of advanced technology therefore helps the Australian food industry to become more effective in nature.
Reference list
Khan, P.W., Byun, Y.C. and Park, N., 2020. IoT-blockchain enabled optimized provenance system for food industry 4.0 using advanced deep learning. Sensors, 20(10), p.2990.
Niknejad, N., Ismail, W., Bahari, M., Hendradi, R. and Salleh, A.Z., 2021. Mapping the research trends on blockchain technology in food and agriculture industry: A bibliometric analysis. Environmental Technology & Innovation, 21, p.101272.
Patelli, N. and Mandrioli, M., 2020. Blockchain technology and traceability in the agrifood industry. Journal of food science, 85(11), pp.3670-3678.
Rejeb, A., Keogh, J.G., Zailani, S., Treiblmaier, H. and Rejeb, K., 2020. Blockchain technology in the food industry: A review of potentials, challenges and future research directions. Logistics, 4(4), p.27.
Rogerson, M. and Parry, G.C., 2020. Blockchain: case studies in food supply chain visibility. Supply Chain Management: An International Journal, 25(5), pp.601-614.
Singh, V. and Sharma, S.K., 2023. Application of blockchain technology in shaping the future of food industry based on transparency and consumer trust. Journal of Food Science and Technology, 60(4), pp.1237-1254.
sourcetrace.com, (2024), BLOCKCHAIN TECHNOLOGY FOR THE FOOD INDUSTRY, Available at: https://sourcetrace.com/blog/blockchain-technology-food-industry/ [Accessed on 23.02.2024]
Vu, N., Ghadge, A. and Bourlakis, M., 2023. Blockchain adoption in food supply chains: A review and implementation framework. Production Planning & Control, 34(6), pp.506-523.
Xu, J., Guo, S., Xie, D. and Yan, Y., 2020. Blockchain: A new safeguard for agri-foods. Artificial Intelligence in Agriculture, 4, pp.153-161.