Machine learning helps Grocers win the Fresh-Food Competition
Fresh produce, which can account for a third of a food retailer’s costs and 40% of its revenues, is a fiercely competitive segment at the best of times, but more and more combatants are crowding into this key battleground. Convenience-store chains, discounters, and online grocers all understand the power of fresh food to lure customers away from the supermarket giants.
“To try to win the fresh-food war, leading retailers are sparking a revolution in supply-chain planning by turning to machine learning. Based on algorithms that allow computers to learn from data even without rules-based programming, this is enabling them to automate processes that used to be manual.”- Christoph Glatzel, a senior partner in McKinsey’s Cologne office
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