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Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines Kenneth L. Armas; Engr. Gina Lorenzo; Catherine Dela Cruz
Journal of Applied Engineering and Technological Science (JAETS) Vol. 4 No. 2 (2023): Journal of Applied Engineering and Technological Science (JAETS)
Publisher : Yayasan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/jaets.v4i2.2040

Abstract

This study aimed to explore the financial, socio-economic, and environmental benefits of sustainable onion production using vertical farming and hydroponic systems, and to identify key factors affecting the viability of these business models. Data were collected through a survey of onion farmers and producers in the Philippines, and analyzed using descriptive and inferential statistics. Results showed that sustainable onion production using vertical farming and hydroponic systems has the potential to generate higher income for farmers, increase employment opportunities, improve food security, enhance market competitiveness, and promote environmental sustainability. Key financial factors affecting viability included production costs, market prices, yield, labor costs, energy costs, capital costs, financing costs, taxes and regulatory costs, and maintenance and repair costs. Recommendations for optimizing financial viability include reducing production costs, diversifying income streams, and improving market competitiveness. Overall, this study suggests that sustainable onion production using vertical farming and hydroponic systems is a viable and promising approach to achieving socio-economic and environmental sustainability in the agricultural sector.
Enhancing Onion Supply Chain Using The Smart Contract Platform: A Meta-Analysis Kenneth L. Armas; Bren C. Bondoc; Rhea Lyn La Penia
Journal of Applied Engineering and Technological Science (JAETS) Vol. 5 No. 1 (2023): Journal of Applied Engineering and Technological Science (JAETS)
Publisher : Yayasan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/jaets.v5i1.2447

Abstract

In the ever-evolving landscape of global agricultural supply chains, ensuring traceability, transparency, and sustainability is paramount to guaranteeing food safety, combating fraud, and meeting consumer demands. The Philippine onion industry, a vital component of the nation's horticultural sector, grapples with challenges related to traceability and transparency that impact customer trust and economic sustainability. While the adoption of smart contract platforms has revolutionized traceability and transparency in various agricultural sectors worldwide, their potential in the Philippine onion market remains underutilized. This study employs a comprehensive meta-analysis approach to evaluate the existing traceability and transparency mechanisms within the Philippine onion industry, drawing insights from a diverse set of studies. The meta-analysis reveals a consistently positive impact of these mechanisms on traceability and transparency. The findings, supported by a range of studies, underscore the value of these mechanisms in improving product quality, supply chain efficiency, and transparency. The study further investigates the potential impact of smart contract platforms in enhancing traceability and transparency throughout the onion industry's supply chain. Meta-analysis results suggest that the adoption of smart contract platforms holds promise in furthering these objectives. Through automated record-keeping and real-time data sharing, smart contracts have the potential to address existing challenges related to data fragmentation and limited technological integration. Identifying barriers to smart contract platform adoption in the context of traceability and transparency, the study proposes a set of strategic initiatives and recommendations. These recommendations cater to various stakeholders, including government bodies, academic institutions, local authorities, onion farmers, and industry players, aiming to promote the widespread adoption of smart contract platforms. This study extends beyond the confines of the Philippine onion industry, offering valuable insights into the role of smart contract platforms in enhancing traceability, transparency, and sustainability within agricultural supply chains. As the world works towards achieving the Sustainable Development Goals of the United Nations, this research contributes to the realization of "Zero Hunger" and "Responsible Consumption and Production" by promoting transparent and sustainable supply chains. By bridging the gap in understanding the potential of smart contract platforms in enhancing traceability and transparency, this study paves the way for innovative solutions, inspiring trust, and fostering sustainable farming practices within the onion industry and, potentially, in similar sectors worldwide.