One stop AI powered solution for Supply Chain Management for Agricultural services
The Problem
Every year crops of worth Rupees 40000 Crores are wasted in India due to improper management of Supply and Demand. This not only effects the Indian Economy but also puts a strain on the Farmers who produce these crops. The consumption and demand pattern of different crops doesnt follow a specific curve rather is highly unpredictable. Therefore traditional statistical methods cannot analyze these trends. Farmers undergo a huge loss by being unable to predict the consumption of their produce which results in Over-production and wastage. Another major problem the Farmers face is the inability to predict the Goverment Revised Prices of their crops also known as Minimum Support Price(MSP) which also contributes to their loss. From the Goverment point of View , Improper Supply Chain Management causes over production at some places while creating famine at other. This also introduces anomalies in export and import ratios of crops in India.
*The Solution *
We aim at building a all in one solution for the Farmers by providing them with an Application which would forecast the expected consumptions of different crops in their region. This is will aid the farmers in proper crop selection and calculated Investments. The App would also be able to predict the MSPs of different crops based on Historical Values. The App will allow Farmers to keep a track of their Crop-Cycle by proper pre-planning.
*The Methods *
To make the supply chain maangement automated, we will use state-of-the-art methods for Timesereis Forecasting that is Long Short Term Memory Cells which is a class of Deep Neural Networks. The Expected Demand and MSPs will be based on the analysis of historical values of these factors along with dependence on attributes such as Foreingn Exchange rate, Rainfall Patterns and Productivity of differnt crops.