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
DALLAS, July 01, 2021 (GLOBE NEWSWIRE) — 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.
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.”
Recipients of this year’s award are profiled in the June 2021 print issue. Visit FoodLogistics.com to view the full list of all 2021 Top Green Providers.
About Food Logistics
Food Logistics is the only publication exclusively dedicated to covering the movement of product through the global cold food supply chain, focusing on trucking, warehousing, packaging, risk management, food safety and more. Go to www.FoodLogistics.com.
About Symphony RetailAI
Symphony RetailAI is a leading global provider of role-specific, AI-powered revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain. Our proven, industry-leading, AI-enabled software, coupled with the industry’s only conversational natural-language AI interface, CINDE, provides key users with proven prescriptive and preemptive recommendations that make it easy to identify end-to-end growth opportunities, activate plans and realize measurable profit and revenue growth. Our solutions are specific to key decision-maker roles focused on profitable growth across the retail value chain from source to consumer. With our strong global partner ecosystem, we serve more than 1,200 organizations worldwide – including 15 of the top 25 global grocery retailers, 25 of the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains – all through the Microsoft Azure Cloud. Symphony RetailAI is a SymphonyAI company. More at Symphony RetailAI.
SymphonyAI is building the leading Enterprise AI company for the digital transformation of the business enterprise, across the most important and resilient growth verticals, including life sciences, healthcare, retail, consumer packaged goods, financial services, manufacturing and media. In each of these verticals SAI businesses have many of the leading enterprises as clients. SAI is backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist. Since its founding in 2017, SymphonyAI has grown rapidly to a combined revenue run rate of more than $300 million and over 2,200 talented leaders, data scientists, and other professionals. More at SymphonyAI.
Ketner Group Communications (for Symphony RetailAI)
Powered by WPeMatico