"The software uses data from each grocer—in some cases, hundreds of billions of transactions—and looks at pricing, promotions, where the food shipped from, and other factors to understand the perishability of each product."
"Deep learning models also forecast demand based on another range of factors, from the timing of food stamps to the weather. Then an optimization algorithm suggests how much of each product to order."
Grocery stores in the U.S. waste approximately four million tons of food annually, primarily fresh produce. Traditional inventory management relied on manual methods, leading to inefficiencies. Afresh, a startup, has developed AI tools that analyze vast amounts of data to optimize inventory and reduce waste. Their software considers various factors, including perishability and demand forecasting, to suggest optimal ordering quantities. With new funding, Afresh aims to expand its impact on reducing food waste in grocery stores.
Read at Fast Company
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