THE GREEN DIMENSION
TO THE BOTTOM LINE $150M of food waste eliminated annually Merchandising
IS THE NEW GREEN Speaking With Tim Spencer, President & CEO, Invafresh After 30+ years of success in fresh item management solutions, Invatron revealed a bold new brand and became Invafresh on May 25, 2021—with a strategic focus on fresh. Progressive Grocer asked President and CEO Tim Spencer why now is the right time, and how Invafresh is meeting its redefined purpose: to inspire the world to Think Forward and Think Fresh. PROGRESSIVE GROCER: Can you share some insight on the decision to rebrand? TIM SPENCER: Our brand journey started with a simple question to our customers, the industry, and ourselves: “What is our purpose?” For the answer, we looked at our past and present, with a deliberate eye to the future.
Demand forecasting Recipe management Scale management
Intelligent Fresh Forecasting
FRESHOLOGY
Replenishment Fresh ordering In-store production Commissary fulfillment
Compliancy & Sustainability Inventory management Food waste reduction Food traceability Nutrition label printing
Invafresh is committed to lead the future of sustainability with the #1 FreshologyTM AI enhanced platform for fresh food retail management. Think forward. Think fresh.TM 1 (866) 332-3055 · sales@invafresh.com · www.invafresh.com
Our purpose had always been there; we just needed to reframe it. Our new name, Invafresh, reflects our newfound purpose: to inspire the world to Think Forward and Think Fresh. PG: That is a noble purpose. You’ve even coined the term Freshology™ to describe the platform you’re using to achieve it. What does it mean for grocery retailers? TS: Changing consumer behaviors are pushing Fresh — which not long ago was a perimeter and marginal business — to center stage. Freshology is fresh-native technology + data specifically designed to help retailers optimize their fresh food operations in this evolving grocery landscape. Fresh is both a pain and an opportunity for grocers. Waste, operational costs, labor, and complexity of the offerings in Fresh are harder to manage than dry goods, but when done well it can replace shrinking
sales and profits of center-store, build differentiation, customer value, and customer loyalty. We know that most problems in Fresh are related to forecasting and data. Solve those and you solve the business. Grocers must acknowledge that Fresh is unique. They can’t rely on the same tools and processes used for other categories to succeed in Fresh. Our platform helps solve the problems that plague Fresh. From processing and managing demand forecasting across fresh food retail in merchandising, replenishment, compliancy and sustainability, it forecasts constant shifts in demand with the capability to optimize and match supply and availability. That’s key, as having the right information at the right time in the right place, and knowing how to operationalize data, makes the difference in profits, performance, and sustainability. Stores that can do that are better positioned to outperform their competitors. PG: What does the Invafresh platform have to do with sustainability? TS: Reducing waste is an integral part of being a sustainable business. To win the fresh food waste battle, grocers must balance demand with accurate data and action it to reduce shrink, lost profits, and ultimately food waste. Our customer Price Chopper has done that well. With the Invafresh platform, Price Chopper is preventing over 20 tons of food from being wasted weekly. We’ve helped streamline their operations and reduce waste and inventory loss by providing the right amount of the freshest products at the right time. We achieved this by
integrating vast amounts of data into ML forecasting algorithms that allow customers to align supply and demand, with accurate merchandising, replenishment, production planning, and inventory control. Over the next 3 years, we are helping Price Chopper to prevent more than 3,000 tons of food waste, reduce their methane emissions from landfills, lessen their carbon footprint, and fuel a more sustainable economy. Price Chopper is one example of how we are working with our customers to eliminate over $150M of food waste annually. This is our ‘green’ dimension to the bottom line. PG: In closing, what thought would you like to leave with our readers? TS: Today’s food-aware, empowered consumers are concerned about the origin, safety, and sustainability of their food choices — this represents an untapped opportunity for grocery retailers who can meet their expectations. Fresh food is the only way to build trust and loyalty giving retailers a competitive edge during this era of digitally driven, experiential grocery shopping. Invafresh is shaping the future of fresh food retail operations by redefining fresh item management. We are freshologists building freshology on a mission to empower food retailers with the #1 platform for fresh food retail operations and accelerate the transition to fresher demand and supply. We’re committed to being the best in Fresh, and to helping global grocery retailers be the best in Fresh, too.
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