Digitized Value Chain in Food Industries: Opportunities and Challenges for SMEs

Abstract

Nowadays businesses have become more aware about digitized value chains. Every business is trying their best to add values to their organizations. The adoption of digital technologies has changed organization in multiple ways at the same time. The food market is growing at global levels and various small businesses are coming up to promote and challenge their businesses to the big platforms and gaining benefit at enormous levels which automatically leads to the economic growth. But on the other hand, various Small and Medium sized Enterprises (SMEs) in food sector are facing problems to adopt digitization at every stage in terms of adding values to their firms due to various reasons. By adopting digitization in the value chains will not only results in the cost cutting, but also it will help the organizations to be more productive and efficient. In India, technology trends on daily basis and government is taking all possible steps to make the food industries fully digital, but still according to one of the surveys, it is observed that 53% of the corporates or businesses are far from their digital transformation goals. The main objective of this paper is to find out how the big firms of food industries are adding values to their organizations by accepting the digitization in their value chains. Also, this paper will identify different models and strategies used by famous organizations who are adding values in their organizations by adopting digitization at initial levels. Also, we will try to find out that what kind of budget friendly IoT devices are being operated by them which will also help the upcoming small enterprises in the near future.