Dallas, Texas-based Symphony RetailAI, a provider of integrated AI-enabled marketing, merchandising and supply chain solutions for FMCG retailers and CPG manufacturers, has been included in the Food Logistics 2020 Top Green Providers (Software & Technology category). Symphony RetailAI’s supply chain solutions leverage artificial intelligence, machine learning and rich data management to help grocers reduce waste and spoilage of perishable goods and prepared foods, and ultimately make a significant environmental impact in their respective communities.
“Our annual Top Green Providers award recognizes companies whose products, services or exemplary leadership enhances sustainability within the food and beverage industry,” said Marina Mayer, editor-in-chief of Food Logistics. “From technology that reduces a fleet’s carbon footprint to software that helps shippers drive energy efficiency to systems and processes that help reduce the carbon and environmental impact of its customers’ supply chains, these top green providers continue to practice the ultimate in sustainability year over year.”
With its solutions, Symphony RetailAI helps retailers and CPGs meet their sustainability goals. Its AI-enabled demand forecasting solution helps grocery retailers accurately predict demand, so the right levels of shelf-sensitive products are moved efficiently through the supply chain. The demand forecasting software recognizes the use-by date and has full visibility into inventory quantities and dating throughout the supply chain, helping to dramatically reduce waste – particularly for fresh items.
Notably, using the solution, some grocers have been able to:
- Reduce forecast errors by up to 75 percent, while managing all items in one platform.
- Achieve up to 45 percent waste reduction.
“We’re honored to be part of the Food Logistics’ 2020 Top Green Providers as the global environment should be top of mind for today’s enterprises,” said Patrick Buellet, chief strategy officer for Symphony RetailAI. “Not only must CPG suppliers and retailers consider the efficiency of getting products on shelf, but once there, make sure they sell before the expiration dates. With the right tools, this delicate balancing act – the right products, the right quantities at the right locations – can become much easier to manage.”
In addition to its demand forecasting solution, Symphony RetailAI Warehouse Management allows grocery retailers to optimize the allocation of inventory in real-time, to reduce waste. Grocers using the solution have seen an 80 percent reduction in pick-error rates via voice-directed warehousing and a 20 percent increase in inventory accuracy, leading to a reduction in fuel, food and packaging waste.