Artificial Intelligence Value Chain
Companies in the food sector have problems in predicting sales and, in the fresh-food sector, the reduced time put on sale also limits the planning of promotions and discounts. Producing the right quantity prevents the consumption of raw materials, reduces environmental impact, lightens warehouse inventories and limits production costs.
The AI algorithm developed helped a food sector company to reduce in a year unsold fresh products by € 170 thousand (2.6% of turnover), keeping the stock of non-fresh goods under € 100 thousand, saving around € 300 thousand against an investment of € 40 thousand for developing the forecasting model.
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