The Power of Data: How Highland Ag MarketWatch® is Helping Tackle the Issue of Food Waste in the Fresh Produce Industry
According to the United Nations, 14 percent of food produced worldwide is lost between harvest and retail, and the fresh produce industry is no exception. However, sustainability in agriculture is becoming increasingly important, and data analysis is helping companies tackle the problem of food waste. We discovered through a pro-competitive data analysis tool, Highland Ag MarketWatch®, supply chain transparency has helped the fresh produce industry reduce food waste.
Data analysis is a highly effective method that can help the fresh produce industry reduce food waste and promote sustainability. While there are challenges to implementing supply chain transparency, the benefits are clear – increased efficiency, cost savings, and a reduction in environmental impact. Highland Ag MarketWatch is a powerful tool helping companies achieve their sustainability metrics around food waste:
- See market volumes by total pounds and pack styles sent to global destination markets to avoid oversupply in specific regions prior to shipment.
- Cost of quality, by source origin – having the power to determine where quality concerned fruit exists allows us to know it’s shelf life and how far we should or shouldn’t ship it. Thus, helping us make more informed decisions about the fruit that is coming off the plant.
- Avoid repack, no wasted time to market resulting in less shrink by knowing what pack styles are trending.
- On-time data, aggregated and anonymized market intelligence every 30 minutes. Historically our industry has been hindered by day old data.
As data analysis and supply chain transparency become increasingly important in agriculture, companies that embrace these trends are likely to have a competitive advantage in the marketplace.
Contact the Highland Ag MarketWatch team today at 863-940-0212.