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Shelf Engine, a start-up that uses analytics to help retailers better examine the historical order and sales data on their products to improve ordering decision-making, is one of two companies featured in this Digital Trends article about artificial intelligence playing a role in reducing food waste.
Big data analytics is already used in a wide range of industries, but food ordering is still often done using guesswork. That’s a problem because buyers may over-buy or under-buy based more on gut instinct than on hard data. For example, more than 14% of fresh juice currently spoils. More than 40% of ready-made sandwiches go to waste. Around 35% of bread remains unsold. Someone somewhere is making a mistake, according to the article. This is not only wasteful, but it’s also extremely expensive for companies.
Wasteless is a company that specializes in real-time dynamic pricing of food products based on how fresh the food is.
This all looks like a win-win for providing solutions to grocery store food waste while creating a new business model. What are your thoughts?
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