Enterprises in the Agri-business sector usually have large farms that require a range of inputs. Procurement and supply of these inputs can prove challenging in developing countries because the enterprise relies on entrusting individuals to be honest and transparent in their dealings. Both employees and third party suppliers can on occasion act fraudulently against the best interest of the enterprise.
We hope through this paper to explore some options enterprises may explore to avoid the pitfalls of fraudulent activities by either or both employees and third party vendors when funding enterprise CAPEX and OPEX. The scheme we propose the enterprise could adopt seeks to:
Reduce the attempts at fraud usually associated with the procurement and distribution of inputs needed in the everyday operations of farms in an agri-business. Inputs such as diesel, and fertilizers and seeds for example.
Improve the quality of products harvested, and made available for processing and/or sale.
This scheme aims to:
Supply a fraud free system of enterprises, in developing countries, funding their agri-business operations. (Enterprises running this scheme may find it easier to procure venture capital, debt or equity funding from 3rd parties);
Provide hardware needed to track farm produce development; and
Track inputs supplied for farm operations throughout the produce life cycle.
