Food Waste Reduction in Retail
Nobody likes to see food going to waste. Especially when there are a lot hungry people around the world and people who do not have access to healthy fresh produce.
According to one shocking statistic - 50% of all bananas grown are never consumed.
We leverage state of the art image recognition technology to compute the number of days left in each fresh produce. By using a combination of clues and features, the algorithms can distinguish between not ready for consumption, ready for consumption, over ripe and not consumable.
Further, the algorithm can predict the number of days on each produce. Combining this information with the inventory levels, predicted demand and price sensitivity of the product by product-location-time combination allows the algorithm to sell through the produce without any wastage.
Our goal is to put food into a hungry stomach instead of a trash can and to reduce food wastage one banana at a time. The RapidPricer solution can reduce food wastage by at least 10%.
RapidPricer helps retailers to increase margin and reduce waste by automating pricing and promotion in real time unlike traditional consulting solutions.