ProducePay Explores Supply Chain Efficiency and Profitability With Latest Survey; Pablo Borquez Schwarzbeck Details
LOS ANGELES, CA - In an effort to pinpoint the needs of United States produce growers and buyers amidst record inflation, rising production costs, supply chain disruptions, and extreme weather, ProducePay carried out a national survey and has now released the results. With these insights, the company hopes to drive produce supply chain efficiency and profitability.
“There’s an urgent need to bring more transparency and efficiency to all aspects of the global produce supply chain,” said Pablo Borquez Schwarzbeck, Chief Executive Officer and Founder of ProducePay. “Underpinning many of the survey responses we received was a resounding plea for the kind of price stability that only happens when trading partners have direct access to one another and can reach more agreeable and profitable business terms.”
A diverse group of produce growers and buyers across the country participated in the survey, a release explained. The results revealed a shared desire for greater access to trading partners and greater pricing security across the produce industry.
Overall, 48 percent of growers and 47 percent of buyers identified price volatility as one of the primary challenges to managing their daily operations. Additionally, 68 percent of growers said that being able to reach fair pricing terms was a prevalent pain point when it comes to trading.
To help solve this issue, ProducePay offers its marketplace users more transparency when it comes to pricing data. It recently enhanced its pricing data visualization feature to allow buyers and growers to view pricing indexes based on transaction histories from the USDA and ProducePay marketplace transactions for more than 30 different categories.
While growers and buyers agreed on growth hurdles, some perspectives revealed in the survey diverged. These include their recommendations for the best way to eliminate post-harvest waste. Almost 57 percent of growers said that having access to more buyers was the most effective means of eliminating waste, while buyers said greater transparency into a grower’s sustainability practices was their most effective tactic.
Other insights from ProducePay’s survey include:
- Nearly 43 percent of buyers indicated they have trouble finding consistent growers to purchase from, and 41 percent of buyers said they have difficulty finding enough supply from growers
- 40 percent of buyers said they currently look for new growers through acquaintances, 31 percent of them look for growers at trade shows, and only 10 percent use online marketplaces
- 50 percent of growers said that they have difficulty finding consistent buyers
- Nearly 45 percent of growers agreed that being unable to expand and diversify their portfolio is stunting business growth
To read more results from the survey, click here.
What other means will ProducePay introduce to unite growers and buyers to streamline the produce supply chain? Keep reading AndNowUKnow for the latest.