There's been a lot of hype about Blockchain — in fact, it uses networking and distributed database technology with encryption, security and much more. But should you jump on the bandwagon now?
Covantis, the industry initiative that aims to modernize global trade operations, has received all required regulatory approvals and has incorporated as a legal entity in Geneva, Switzerland, as Covantis SA. The company is co-owned by its founding members: ADM, Bunge, Cargill, Louis Dreyfus Company and Glencore Agriculture.
In the wake of the coronavirus pandemic, many grocery retailers have made the decision to cancel semi-annual shelf resets, slamming the brakes on planned new product and line extension launches. This leaves consumer goods companies wondering what to do with the pipeline of innovation and provides an opportunity to review short-term innovation, its role in the market, and new approaches to product or varietal introduction, through the eyes of the end consumer.
Blockchain technology allows retailers, suppliers and anyone who has access to the software, to have real-time information on a product’s origination and the stops it made along the way before it reaches its destination. However, when it comes to olive oil, blockchain can be useful in determining provenance and delivery path, but not the purity or freshness of the product.
Employee training is a cornerstone of an effective processing operation. But as processors struggle to find and keep qualified employees, it is also a benefit that can help keep employees happy and more willing to stay.
We use experiments to understand how to make new or better products or processes. Experiments cost time and money. However, by using some simple statistical tools to design and analyze our experiments, we can minimize the costs while maximizing the useful information we gain.