One of Mitsubishi Corporation’s digital strategy is to develop a food distribution data platform to gather data from food suppliers, food distributors and food retailers to improve food demand prediction, minimize food loss and optimize food logistics. By combining data from a different point of the supply chain (food distributors and food retailers) and using machine learning, our initial data analysis showed that the largest food distributor in Japan can reduce remaining stock by over 20% (reduce food loss) and also avoid product shortage at the same time.
Key Takeaways
- Minimizing food loss is about balancing reducing remaining stock and reducing product shortage
- We are trying to realize the optimal balance by improving food demand prediction and calculating the optimal threshold to order additional food products.
- Demand prediction can improve significantly by combining data from a different point of the supply chain (food distributors and food retailers)
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