Food waste, slow and inaccurate data?

Food waste is a global concern, both for environmental sustainability and for the economy. According to the consulting firm BCG, 1.6 billion tons of food are lost annually, equivalent to USD 1.2 billion. And it is projected that by 2030, 2.1 billion tons of food will be thrown away.   

Undoubtedly, an urgent issue to be addressed.    

But where do losses occur? From production to end-customer consumption. In other words:  

  •  In agriculture, due to inappropriate timing in the harvesting of fruits or vegetables. 

  • Transportation, due to inadequate infrastructure or inefficient logistics.

  • Processing and packaging is also key for longer shelf life. 

  • In storage, when erroneous decisions are made due to lack of information or absence of information.   

  • In retail, due to inventory failures 

  • And at home and restaurants, for excess food not consumed in homes and restaurants.    

You can also read: Datamind tips to reduce shrinkage   

The importance of data 

A fundamental action to prevent food waste in commerce or retail is to have accurate and updated data. To obtain this data, it is necessary to invest in technology, train personnel and have adequate information systems.  

 Accurate data is possible:    

  1. Perform effective actions: With information on the status of products, stock, product expiration dates, strategies can be implemented to reduce losses.  

  2. Avoid using resources and efforts on measures that may not be correct by handling inaccurate data.  

  3. FEFO (First Expires, First Out) should be applied, i.e. the first product to expire is the first to be sold.  

  4. Identify potential inventory adjustment problems, such as: immobilized products, lost sales, etc., since having the real stock aligned with the theoretical stock will provide greater control.    

Another important variable is the speed with which data is obtained. It is not useful to carry out an analysis with days or weeks of lag; what is necessary is to count the daily information, so that timely decisions can be made.   

For them, you can count on our services. We have a platform that analyzes the B2B portals of the retailers where your brand is located. And every day you can review the sales and performance of your products in the showrooms, in order to make decisions to avoid losses and also improve the service to the end customer.     

Want to know more about the benefits of Datamind for your business? Write to us!

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