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Afresh

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Afresh Technologies, Inc. Company Research Report



Company Overview



Name: Afresh Technologies, Inc.

Mission of the Company: "To sustainably nourish the world with fresh food."

Founded and Founders: No information is available.

Key People:
  • Matt Schwartz, CEO, Co-Founder

  • Nathan Fenner, President, Co-Founder

  • Dain Charette, Chief Revenue Officer

  • Kristina Kemmer, SVP of Engineering

  • Evan Kravitz, VP of Sales

  • Katie Tokars, VP of People

  • Erica Hanson, VP of Strategy and Finance

  • Cynthia Carpio, Director of Finance and Accounting

  • Sean Meador, Director of Product Engineering

  • Aria Jelinek, Director of Product Marketing


Headquartered: Oakland, CA, USA

Number of Employees: No information is available.

Revenue: No information is available.

Known For:
Afresh Technologies is known for leveraging artificial intelligence (AI) and machine learning to optimize fresh food inventory management for grocery retailers. The company aims to reduce food waste, enhance operational efficiency, and improve product freshness.

Products



Fresh Operating System
  • Description: Afresh's Fresh Operating System is a suite of AI-powered tools designed to optimize inventory management, ordering, and merchandising in the fresh food departments of grocery stores.

  • Key Features:

  • Intelligent Order Recommendations: Utilizes machine learning to minimize waste and maximize shelf life by making accurate ordering recommendations.

  • Inventory Visibility: Provides dynamic inventory positions with unprecedented accuracy.

  • Labor Efficiency: Streamlines time-consuming tasks like downstacking and simplifies inventory processes.

  • Sustainability Impact: Reduces food waste, GHG emissions, and water usage by improving order and inventory accuracy.


Store Ordering
  • Description: Efficient and accurate store orders across core fresh departments.

  • Key Features:

  • AI-Powered Automation: Uses machine learning to translate complex data into smart recommendations and auto-orders.

  • Easy-to-Learn Workflows: Intuitive technology that helps store teams of any skill level.

  • Tailored Order Automation: Adapts to unique needs of each store.


Intelligent Inventory
  • Description: AI-enhanced perpetual inventory designed for fresh departments.

  • Key Features:

  • Intelligent Inventory Estimates: Provides accurate inventory estimates.

  • Proactive Alerts: Identifies discrepancies and provides alerts to maintain inventory accuracy.

  • Targeted Inventory Reviews: Helps in precise inventory auditing.


Operations and Merchandising
  • Description: Enhances competitive advantage throughout the fresh supply chain.

  • Key Features:

  • Flexible Display Management: Adaptable management of fresh displays.

  • Tailored Order Guides: Customized guides to meet specific store requirements.

  • Seamless Delivery Schedule Management: Optimizes delivery schedules for better inventory control.


Recent Developments



Recent Developments:
  • Afresh has expanded its collaboration with Albertsons Companies to include the meat and seafood departments in over 2,200 stores, building on their previous success in the produce category.

  • Afresh's AI has been actively managing fresh inventory and ordering processes, reported significant improvements:

  • 80% stockout reduction

  • 25% shrink reduction

  • 7% faster inventory turns


New Products Launched:
  • Intelligent Inventory Solutions: Launched enhancements to their AI inventory management solutions to improve accuracy in fresh departments.


New Features Added to Existing Products:
  • Cutting-Edge Machine Learning Enhancements: Incorporated advanced machine learning algorithms to further optimize inventory accuracy and ordering recommendations.


Partnerships:
  • Albertsons Companies: Expanded partnership into meat and seafood departments chainwide.

  • Pacific Coast Food Waste Commitment (PCFWC): Collaborated on a study to reduce food loss and waste in the fresh strawberry supply chain.


Recognition:
  • Featured in various media for their innovative use of AI to tackle food waste and improve fresh grocery management.


With the comprehensive suite of AI-powered tools tailored specifically for the challenges of fresh food management, Afresh Technologies stands out as a pioneer in optimizing grocery store operations while promoting sustainability.