Preventing food waste thanks to machine learning algorithms
“Nothing is as difficult as predicting the future market demand for a particular product. Retailers and suppliers struggle with this daily.” That’s according to the VIL’s Fresh Food Logistics study of last year. This project aims to test a new technology that can solve the so-called forecasting problem.
Supermarkets, food processing companies and caterers buy and sell food. They have to estimate how much they are going to sell and then order. With machine learning, we can ensure that the alignment of purchases with sales takes place much more accurately than today. This means that there are far fewer surpluses due to not being sold on time, we prevent food waste and we increase profit margins.
Foresightee has been building such a machine learning algorithm for 1.5 years. The support from Vlaanderen Circulair provides the opportunity for independent testing of the economic and ecological added value in practice. This is absolutely necessary to establish trust and recognition for our innovation in the sector.