On Stop Food Waste Day (April 28), Afresh acknowledges the impact food waste has on our environment and communities and the company looks for ways to solve this enormous problem. One-third of all food produced is wasted every year. In the U.S. alone, that is $408B worth of food, with a greenhouse gas footprint equivalent to four percent of all U.S. emissions.
At the same time, one in six Americans is food insecure. Afresh is tackling this issue using novel artificial intelligence (AI) technology at the grocery store level.
Almost a third of food waste happens at the retail and consumer levels, in large part due to uncertainty in demand and complexities in forecasting that make it difficult for retailers to accurately order the correct amounts of produce.
Afresh software being used on an iPad.
“To address the larger issue of food waste, we must start with the fresh food supply chain. By optimizing it, we can reduce the amount of food being thrown out, which not only saves precious resources, but will ultimately make nutritious, fresh food more accessible and affordable for everyone,” said Matt Schwartz, co-founder and CEO of Afresh. “Together with our current grocery customers, we have been able to prevent 4.7 million pounds of food waste since inception. And we’re only just beginning.”
Afresh is AI-driven fresh food inventory and forecasting software that is purpose-built from the ground up to manage the complexities of fresh. In addition to reducing food waste, by optimizing fresh forecasting, ordering and store operations, Afresh customers – including Heinen’s, Fresh Thyme and Winco – typically increase their topline margins by 2-4 percent and operating margins by up to 50 percent. Stores also see an 80 percent reduction in stockouts, 40 percent increase in produce operating margins and 25 percent reduction in shrink. By automating repetitive tasks, store teams have more time to do what they do best. With Afresh, shelves stay fuller, and food is fresher and customers keep coming back for bigger baskets.
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