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Enterprise Architecture: It’s What’s for Dinner
Prompt
Few things are as taken for granted as the supply chains that grow, process, and distribute our food supply. They need advanced systems that can deal with perishable products, unpredictable supply fluctuations, and rigorous safety requirements. We rarely think about it, but when things go wrong and shortages start, the systems that define them are highlighted in stark relief. Like other enterprises, the food industry faces risks from many internal and external factors, and a fallout if things go wrong. For this discussion, consider the following:
· What risks and risk categories are there in this industry?
· What are some mitigation strategies for this industry?
· What technologies and services could aid this industry?
· Create and share a risk matrix for a particular food chain/company
Response Parameters
· Posts should be 200 words minimum in length
· Use APA formatting to cite all of your sources −
Purdue Writing Lab (Links to an external site.)
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Access Evans Library for articles and journals
Risk Matrix
Risk Matrix for Almond Milk
Risks & Risk Categories
Mitigation Strategies
Technologies & Services to Aid This Industry
Agriculture is the backbone of an evolving society. In fact, advances in chemical fertilizers provided the food efficiency necessary to support a rapidly expanding population (Bailey, 2018). It’s estimated that these advances are directly responsible for the lives of billions. Therefore, analyzing risks and potential downfalls in the supply chain of agriculture is integral to its current success and population thrive.
Risk Categories and Risks
Agriculture is subject to many risks, far more than many other industries. Primary risk categories for the industry include financial, operational, and compliance (Hunziker, 2019). In addition, significant impacts can come from risk subcategories, such as supply-demand, logistics, regulation, and environmental (Sharma et al., 2020). For example, seasonal droughts, storms, and temperature fluctuations are uncontrollable and significantly affect crop yields. The fluctuating labor market also impacts agriculture (i.e., how many people are willing to work in the industry, current salary expectations, etc.).
Mitigation Strategies
Though highly prevalent, many of these risks can be reduced through alleviation strategies. For instance, crop and livestock diversification decreases risk through distribution (e.g., using half of the farmable land for kale and the other half for swiss chard reduces the risk of using all of it for one crop). Contracts are also helpful since they set price and delivery expectations in advance, regardless of market conditions. However, as with anything, this mitigation might come at the cost of more significant profit gains should one of the crops increase in popularity. Additionally, insurances such as crop revenue or yield provide payments should either incur a considerable decline (USDA ERS – Risk Management Strategies, n.d.).
Technology and Service Aid
Artificial Intelligence is an incredibly promising technological asset to agriculture. AI can help experts identify areas of pest infestation, soil degradation, poor drainage, and opportunities for new crops (Das et al., 2018). In addition, this augmented data analysis could allow farmers to avoid supply-demand pitfalls and low crop yields through greenhouse automation (Smith, 2018).
Risk Matrix for Almond Milk
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