Case Study | 09 October 2024
How an agricultural company incorporated eco-friendly means and paved the way for its sustainable growth?
Posted by : Shweta Singh
A U.S.-based agricultural company specializing in producing and distributing various Agri products had a strong presence in the market. However, the company focused only on its profit and growth and neglected the quality of its product. As a result, the company was found guilty and it impacted the company’s reputation in the market. The company requested Research Nester analysts to draw out a plan of action to facilitate a smooth integration of customized research solutions into the company’s policies and practices.
An overview:
- The agricultural company was in the production of Agri products for over a decade and was well-established in the market.
- The company was primarily dealing in the production of pesticides, food crops, etc.
- The company neglected the environmental concerns for their profit.
- The company also did not stick to sustainable farming methods or conservation practices resulting in the loss of natural habitats.
- The company leadership reached out to Research Nester consultants for their intervention to help the company sail through the crisis.
The Story
The agricultural company was established in 2008 to produce agricultural products. The company heavily depended on chemical fertilizers and pesticides without proper control measures. In the region around it, this led to soil deterioration and water contamination. The ecology was significantly affected by the pesticides, biodiversity was restricted and natural resources were deteriorated. Long-term agricultural production began to decline, which was bad for people's health. Authorities in charge of regulation quickly discovered the danger. Penalties were levied on the firm. The business's reputation took a serious hit when word of its punishment spread. Consumer awareness of the negative effects brought on by the company's operations grew, which resulted in a decrease in demand for its goods. Concerned consumers, especially merchants and food processors, started changing their tastes in favor of agricultural products that were produced more sustainably and morally. The corporate leadership hired Research Nester analysts to rewrite the company's strategy and integrate customized research practices for sustainable development and profitability when they found themselves surrounded and at a loss.
Our Solution:
The company's violation of environmental regulations was the main barrier to its viability and rapid expansion. As a result of its high-water usage, use of fertilizers and pesticides, destruction of natural ecosystems, loss of biodiversity, soil degradation, and erosion, agriculture is already thought to be a major contributor to global warming. The agricultural biologicals study, which included a detailed analysis of the advantages of organic farming and the adoption of biopesticides and biofertilizers, was delivered by Research Nester consultants as a customized solution and a quick overview of the customized research. The following tactics were also recommended by RNPL experts as effective means of implementing customized research-
- Putting into practice regenerative agricultural techniques
- Reducing the use of chemicals - Synthetic nitrogen can be replaced for restoring soil fertility by nitrogen fixation, and pesticides can be replaced with plant-derived substances
- Using contemporary irrigation techniques, including drip irrigation, to stop dangerous chemicals from seeping into the groundwater. It can also spend money on cutting-edge irrigation technologies to maximize water efficiency and lessen environmental effect
- Managing the agriculture supply chain effectively through pricing monitoring and correcting supply and demand imbalances
- Efficient management of the supply chain for agricultural products, with efficient price monitoring and addressing mismatches between demand and supply
- Emissions and wastewater treatment systems are strictly monitored
- Keep an eye on changes in consumer demands and preferences
All these suggestions were incorporated by the company to increase sales and growth.
Results
The business saw consistent growth of about 13% in the year 2019. However, the expansion was halted when the business was hit with harsh fines for breaking environmental guidelines. The organization was able to change its market position and eventually establish its reputation by implementing the techniques recommended by research nester experts. The revenue increased by 11% from the previous year to ~USD 350 Million in 2020, reaching 24% and 30% growth rates in 2021 and 2022, respectively. The business was able to resume production and growth and make progress toward sustainable and long-term growth.
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