So we are 6 billion on this planet, wait for its 7 billion unless we are already 8 billion? I can’t keep up, the world population is expected to reach 10 billion by 2050. And food production will need to almost double to meet demand. Do we have the resources to match this demand? How do we scale for such a huge level of demand? And how can we do this without degrading the environment when you consider that agriculture is responsible for 20% of greenhouse gas emissions
There are not fifty ways around this issue. We need to identify more productive and more sustainable ways, get a better yield for the crops, implement new farming practices, leverage digital innovations such as precision farming, while at the same time reducing supply chain disruptions linked to geopolitical events or extreme weather conditions and obviously reduce food waste.
In this issue of This Week in Consulting, we explore innovative solutions to address the food challenge we will all face in a few years. Vertical farming, innovative crop techniques, advanced supply chain practices, sustainable agricultural practices and how to finance all this.
Enjoy the read. Feel free to comment. Would love to hear your views.
Chairman Consulting Quest
This week’s must read
In This Week’s Must Read, we explore innovative solutions in agriculture to address the food challenge we will all face in a few years. Share your views as well.
Embracing technology innovations in modern agriculture is imperative today. Agriculture organizations are increasingly recognizing the need for automation, robotics, and artificial intelligence (AI) backed innovation in areas such as livestock, greenhouse practices, and precision agriculture. Farmers need to invest in technologies to reduce costs, boost yields, and put more money in their pockets. However, to do that, farmers must have easy access to financial instruments. This week’s must read is an insightful piece from Tata Consultancy Services,
discussing new opportunities in agri-financing and how to lay the foundation of tech-powered agri ecosystem.
This week’s media
Agritech is a broad term representing an array of technologies that contribute to production efficiency and adds to yields. Agriculture is an industry on which the world relies. Reeling under the pressure of population explosion, the agriculture industry needs to be prepared for feeding 10 billion people by 2050. Watch this video to know about various cutting-edge technologies that are changing the farming landscape all over the world.
Producers of agricultural inputs view the recent agricultural rules and regulations as a major disruption to their business. An analysis of EU agricultural market showed that the demand in some product categories are indeed likely to shrink but the market overall remains attractive. This BCG article explores why these companies should shift their focus from business models that emphasize selling products to models focused on selling solutions. Embracing this mindset will not only improve overall sustainability in farming but also help protect—and even grow—their business.
An increase in extreme weather events and changes in the growing season have placed America’s rural communities on the front lines. Fortunately, there are several ways to help mitigate the changes taking place and improve your bottom line at the same time. One way is to plant cover crops that are planted to protect and enrich the soil. For over 40 years, Rodale Institute’s Farming Systems Trial (FST). collected data measuring differences in various farming parameters managed with different levels of tillage. This intense research proved that in many ways, cover cropping can be a practice for both super-advanced, large-scale or small farmers to improve their crops and crop rotations. Read this article to know more about the cover cropping benefits.
Changes in the climatic conditions as well as the Covid-19 pandemic significantly disrupted production and supply chains in the agricultural sector. To respond to agricultural supply chain shocks caused by these kinds of notable events, agricultural companies such as food processors and input providers can consider implementing the next generation of end-to-end supply planning based on a four-step approach. This McKinsey article offers an in-depth exploration of this solution.
By 2050, the world’s population is expected to reach nearly 10 billion, and food production will need to double to meet demand.2 Today, however, we simply do not have the resources to stay on that trajectory. The VIF industry could bring sustainable farming to communities and hope to our planet. This Accenture research paper explains why adopting end-to-end solutions to unite all stakeholders across the system is necessary for the success of VIF.
This week’s consulting news selection
As a part of their journey into Web 3.0. announced the opening of the first KPMG metaverse collaboration hub, where dedicated teams will develop and execute metaverse strategies for clients. Find more details here. |
As a part of its expansion strategy in the SEMEA region, Bain & Company recently appointed Roberto Prioreschi, as managing partner for this region. Prioreschi will now lead offices in 10 cities with more than 1,900 people across operations in the SEMEA area. Click to read more. |
Deloitte gets its new office at 100 Embankment, a new state-of-the-art office building located above Salford’s Greengate Square beside Manchester’s historic Medieval Quarter. Deloitte’s 1,050 people in Manchester will move to the new Grade A space in autumn 2023. Read more here. |
The ESG leader, Third Economy welcomes the corporate governance and ESG expert Bob McCormick as a Senior Advisor. Bob’s expertise will help its clients to make ESG decisions that would derive maximum financial return and resonate with investors and other stakeholders.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.