Decreasing uncertainty in the aquaculture supply chain through value chain re-engineering. An action project

The global trend of aquaculture development gaining importance in total fish supply has remained uninterrupted. World aquaculture production volume increased at an average rate of 8.6% per year, including inland aquaculture and mariculture. Uncertainty in the aquaculture value chain is associated with all phases from supply and production to distribution and demand and it substantially derives from the nature of the fish, as a highly perishable and price-sensitive commodity : a rule of fish price devaluation is that "every day that fish remains unsold the average selling price decreases by at least 20%". In this context, this paper outlines the uncertainty factors of the aquaculture supply chain and the requirements for attaining performance in the aquaculture sector. Then, it presents an action project implemented by one of the biggest aquaculture enterprises in the Mediterranean, exporting more than 80% of its fish to over 40 countries, mainly in Europe, but also in North America, Africa and Asia. The project, regarding the re-engineering of the company’s value chain and the reduction of the life cycle, has had direct impact the decrease of uncertainty mainly in the production and distribution process. Thus, this paper reveals practical directions for effectively managing uncertainty in the aquaculture sector and promoting sustainability on operational level. Since main topics of discussion in the aquaculture literature are associated with global fish stocks and only few refer to the uncertainty factors and aspects of aquaculture sector development in the context of sustainability, this ascertain the originality of this paper.