The adoption of technology by farmers has developed new challenges for agriculture chemicals manufacturers. As for the agrichemical supply chain, the industry is still struggling with synchronizing the entire work process and meeting the ever-growing demands for the chemicals cost-effectively.
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Infiniti Research recently assessed the agriculture chemicals market and notes there are two major problems faced by the manufacturers of agrichemicals, one being disruptions in the supply chain and the other is changes in customer needs. Infiniti also found that end-to-end services is an important area which needs focused planning by the players in the agrichemical market.
View the study: https://www.infinitiresearch.com/thoughts/challenges-agriculture-chemicals-market-going-digital-answer
Market Trends
Industry experts believe that by switching to digitization and investing in Industrial Internet of Things (IIOT) technology, the fallbacks of the agrichemical supply chain can easily be countered.
"IIOT and predictive analytics facilitate better redressal of supply chain woes. As predictive analytics makes use of machine learning to decipher patterns in the unstructured data, it becomes easier for market players to respond to changing demands from the customers in an automated manner," says Infiniti Research.
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Market opportunities
Agrichemical companies can gain better ROI by aligning business and digital strategies as digitalization can help in decreasing production costs and increasing yields leading to sustainable growth.
Currently a majority of manufacturers are using digital technology on the front end alone, however, to gain long-term results, experts recommend the use of digital technology in strengthening the back-end mechanism as well. The supply chain is the major back-end mechanism which needs to be highly agile to deal with the fluctuating demands from the customers' end. A digitally-enabled supply chain is sure to leverage the changing market dynamics to the company's advantage.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 14 years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.
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