Corteva Agriscience Case Studies Using Data for Risk Management

Edit This Case Study Record

	Using Data for Risk Management Corteva Agriscience

Using Data for Risk Management

Corteva Agriscience

Technology Category	Analytics & Modeling - Big Data Analytics Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries	Agriculture
Applicable Functions	Business Operation Logistics & Transportation
Use Cases	Predictive Replenishment Supply Chain Visibility
Services	Data Science Services
Challenge	Walnut Grove Farms, a sixth-generation farm in Kentucky, was facing challenges in managing their grain marketing strategy. They were heavily reliant on forward contracting, which was only viable when the price was right. However, recent market conditions had seen prices fall below break-even for most farms. The farm also had to be strategic about their storage capacity, as they could not store everything they produced. They needed a way to better manage their risk and take advantage of market opportunities. Read More
About Customer	Walnut Grove Farms is a sixth-generation farm located in Kentucky, United States. The farm is managed by Stephanie Halcomb, who joined the family business in 2012. Coming from a manufacturing background, Stephanie brought a process-oriented approach to the farm's operations. She is responsible for managing the operational backend, including planning at the beginning of the year, managing software, and capturing activities. The farm engages in a significant amount of forward contracting and has detailed plans for the storage of their crop. They work with a marketing and brokerage firm to handle their options contracts and use a combination of market trends, advice from the firm, and their own projections to manage their risk. Read More
Solution	The farm implemented Granular, a data management platform, to manage all of their contracts. The Revenue Forecast tool in Granular allowed them to track their futures prices and contracted quantities, providing a comprehensive view of their projected sales. This information served as a trigger for decision-making when the market price was above their average price and they still had enough to sell. Granular also provided real-time harvest data, which was critical during busy periods like harvest. This eliminated the need to download grain cart data or wait around, improving efficiency and productivity. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Big Data Analytics

Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Agriculture

Applicable Functions

Business Operation

Logistics & Transportation

Use Cases

Predictive Replenishment

Supply Chain Visibility

Services

Data Science Services

Challenge

Walnut Grove Farms, a sixth-generation farm in Kentucky, was facing challenges in managing their grain marketing strategy. They were heavily reliant on forward contracting, which was only viable when the price was right. However, recent market conditions had seen prices fall below break-even for most farms. The farm also had to be strategic about their storage capacity, as they could not store everything they produced. They needed a way to better manage their risk and take advantage of market opportunities.

About Customer

Walnut Grove Farms is a sixth-generation farm located in Kentucky, United States. The farm is managed by Stephanie Halcomb, who joined the family business in 2012. Coming from a manufacturing background, Stephanie brought a process-oriented approach to the farm's operations. She is responsible for managing the operational backend, including planning at the beginning of the year, managing software, and capturing activities. The farm engages in a significant amount of forward contracting and has detailed plans for the storage of their crop. They work with a marketing and brokerage firm to handle their options contracts and use a combination of market trends, advice from the firm, and their own projections to manage their risk.

Solution

The farm implemented Granular, a data management platform, to manage all of their contracts. The Revenue Forecast tool in Granular allowed them to track their futures prices and contracted quantities, providing a comprehensive view of their projected sales. This information served as a trigger for decision-making when the market price was above their average price and they still had enough to sell. Granular also provided real-time harvest data, which was critical during busy periods like harvest. This eliminated the need to download grain cart data or wait around, improving efficiency and productivity.

Impact #1	The farm was able to manage all of their contracts using Granular.
Impact #2	The Revenue Forecast tool provided a comprehensive view of their projected sales.
Impact #3	Real-time harvest data from Granular eliminated the need to download grain cart data or wait around, improving efficiency and productivity during busy periods like harvest.

Impact #1

The farm was able to manage all of their contracts using Granular.

Impact #2

The Revenue Forecast tool provided a comprehensive view of their projected sales.

Impact #3

Real-time harvest data from Granular eliminated the need to download grain cart data or wait around, improving efficiency and productivity during busy periods like harvest.

Download PDF Version

Overview

Using Data for Risk Management

Operational Impact