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From manufacturing to the services sector, this black swan event has brought in a paradigm shift in their operating models.
As a result, the Food and Agriculture Organisation (FAO) estimates that as many as 132 million people are likely to go hungry this year owing to the global economic recession.
Usually, the food supply chain involves a chain of activities that touch upon producers, consumers, input providers, processing and storage, transportation, and marketing.
Through this technology, farmers are not only able to receive advisories on weather and other climatic conditions, but even field management decisions such as irrigation and fertilization can be aptly taken, which are critical components of precision agriculture.
With the increasing penetration of agri-financing companies such as insurance firms and banks, satellite technology has proven to be a boon in settling claims along with lending decisions.
These two segments can be taken as the derivatives of satellite technology.
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