Supermarket Perimeter - May 2024 - 21

unsellable, thereby reducing food waste
while increasing sales of products that
would otherwise end up going to waste.
Sustainability is a strategic imperative for
grocery retailers and AI technology is key
to helping them achieve their targets.
determine optimal inventory levels,
replenishing stock when necessary,
managing storage space, and minimizing
excess inventory. Both meeting
customer demand while avoiding
overstocking or stockouts, thus
reducing food waste.
learning leads to increased accuracy,
ensuring retailers can optimize
on-shelf availability.
By adopting demand forecasting
software with AI capabilities and
essential features, retailers can
confidently navigate market fluctuations,
boost operational efficiency, and
pave the way for sustainable growth.
Inventory Management
AI-enhanced solutions are playing a
pivotal role in optimizing inventory
management for grocery retailers.
By analyzing historical sales data,
seasonal patterns, and external factors
like weather and events, retailers can
Expiry Management
Expiry management solutions help
grocery retailers track expiry dates of
perishable products in real-time.
By continuously monitoring inventory
levels and expiration dates, AI
algorithms can alert retailers when
products are nearing their expiry dates,
enabling proactive management to
enhance customer satisfaction and
reduce food waste.
Markdown Optimization
Also, known as dynamic pricing,
markdown optimization solutions
enable retailers to offer targeted
discounts or promotions on items
nearing their expiration dates, incentivizing
customers to purchase these
products before they become
Donation Management
Donation management solutions can
improve donation management
capabilities for grocery retailers, by
providing valuable insights into donation
trends, recipient preferences, and
the effectiveness of donation management
strategies. By enabling proactive,
data-driven decision-making, retailers
can streamline their donation management
process, thereby helping to
reduce food waste and alleviate food
insecurity in their communities.
Looking Forward
AI-enhanced forecasting offers the
potential for a proactive approach that
leverages real-time data and advanced
analytics. Data-driven decision-making
is a critical contributor for success in
the grocery retail industry. Analytics
provide retailers with valuable insights
into customer behavior, preferences,
and trends, allowing grocery retailers to
pivot from being reactive to proactive
when it comes to demand planning and
combatting food waste.
The future of AI in grocery retail holds
immense potential and will play an
increasingly critical role for grocery
retailers in enhancing their operational
efficiencies, improving the customer
experience, increasing profitability, and
reducing food waste to help achieve
their sustainability targets. Talk about
having your cake and eating it too!
1 .866.332.3055 - thinkfresh@invafresh.com - invafresh.com
http://www.invafresh.com
Supermarket Perimeter - May 2024

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