The company’s solutions for demand forecasting and warehouse management have led to significant reductions in both inventory and waste for grocers adapting to new levels of consumer demand
Symphony RetailAI, a leading global provider of integrated AI-powered marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced that it has been named to Food Logistics’ 2021 Top Green Providers list.
Food Logistics’ annual Top Green Providers recognizes companies whose products, services or exemplary leadership is enhancing sustainability within the cold food and beverage industry. Through artificial intelligence, machine learning and data management, Symphony RetailAI’s end-to-end supply chain solutions help grocers reduce waste of perishable goods and prepared foods, with case studies demonstrating up to 95% improvement in forecast accuracy, 20% reduction in inventory and up to 10% reduction in waste.
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Symphony RetailAI’s demand forecasting solution helps grocery retailers accurately predict demand, ensuring the right levels of shelf-sensitive products are moved efficiently through the supply chain. Furthermore, waste can be minimized as retailers better manage sourcing and transportation between warehouses, distribution centers and stores. For fresh items specifically, use-by dates are factored into demand forecasting to ensure accurate inventory levels. AI-powered demand forecasting also uses rich data management to analyze items’ relationships across the entire assortment to accurately forecast demand. The rise in click-and-collect services last year has led to an increase in dark stores and put a greater strain on distribution centers. To support this trend, Symphony RetailAI’s warehouse management solution optimizes the allocation of orders in real time to reduce waste.
“We are thrilled to be recognized by Food Logistics for our commitment to helping retailers make an environmental impact while also building end-to-end supply chain efficiency,” said Chris Koziol, CEO, Symphony RetailAI. “After a year like 2020, retailers are seeking ways to exceed consumer expectations as they face dramatic and increased changes in demand. Our team is focused on delivering supply chain transparency, traceability and sustainability. We work to educate and collaborate with our clients to reduce food waste while improving profitable growth. Symphony RetailAI’s AI-powered solutions deliver accurate demand forecasts that leverage a unified view of inventory, which are key accelerators for companies seeking to reduce food waste across their supply chains.”
