Albertsons Companies Selects Afresh Technologies AI Platform

Rhea-AI Summary

Albertsons Companies (NYSE: ACI) has partnered with Afresh Technologies to enhance its fresh food offerings through AI-powered predictive ordering and inventory solutions. This collaboration aims to reduce food waste, optimize forecasting, and improve overall fresh product management. Afresh's technology will help Albertsons meet its goal of reducing food waste by 50% by 2030 and support its commitment to lowering greenhouse gas emissions. The partnership is expected to better predict demand and monitor inventory, ultimately providing customers with higher quality fresh products.

Positive

• Partnership with Afresh to utilize AI technology for fresh product management.
• Goal to reduce food waste by 50% by 2030.
• Enhanced forecasting and inventory management expected to improve product quality.

Negative

• None.

SAN FRANCISCO, Jan. 27, 2022 /PRNewswire/ -- Albertsons Companies (NYSE: ACI) will enhance its fresh offering with Afresh Technologies' AI-powered predictive ordering and inventory solutions to reduce waste and offer the freshest product for customers. Afresh will help Albertsons Cos.' optimize fresh forecasting, inventory, ordering, merchandising and operations.

Afresh Technologies enables Albertsons Cos. to deploy a state-of-the-art AI technology platform in all its stores to further differentiate its fresh offering to customers while helping to reduce food waste, ultimately reducing greenhouse gas (GHG) emissions and saving water.

"By partnering with Afresh, we are now able to improve our processes to better manage our fresh product supply and provide our store teams with a tool to better predict demand and monitor inventory," said Susan Morris, EVP and Chief Operations Officer of Albertsons Companies, "Managing these variables ultimately allows us to offer our customers even higher quality fresh products and further reduce our food waste."  

As one of the U.S. Department of Agriculture's Food Loss and Waste Champions, Albertsons Cos. will be able to achieve, with innovative solutions like Afresh, its goal to reduce food waste by 50% by 2030. Additionally, Albertsons Cos. is committed to setting a science-based carbon reduction goal, and food waste will help reduce the carbon footprint within the company's value chain.

"We know that fresh food drives the global grocery industry, yet the lack of technology for fresh departments causes immense food waste and expensive losses. We're honored to support Albertsons Cos.' investment in, and demonstrated velocity of, technology and innovation, which is making the grocery experience better and more efficient for both the retailer and its shoppers," said Matt Schwartz, CEO and co-founder of Afresh.  

About Afresh
Afresh is the world's leading fresh technology company. Afresh's AI-powered solutions optimize critical functions in fresh food, including ordering, inventory, merchandising, and operations. Afresh significantly reduces food waste, improves its partners' profitability, and makes fresher, healthier food more accessible to all. Founded in 2017 with the mission to eliminate food waste and make fresh food accessible to all, Afresh has grown rapidly with grocery customers across the US. Today Afresh has announced partnerships with grocers in over 3,000 stores and 40 states, including Albertsons, WinCo Foods, Heinen's, Save Mart, Bashas, CUB Foods, and more. Learn more at www.afresh.com. 

About Albertsons Companies
Albertsons Companies is a leading food and drug retailer that operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood.

 

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SOURCE Afresh Technologies

FAQ

What partnership did Albertsons Companies announce on January 27, 2022?

Albertsons Companies announced a partnership with Afresh Technologies to enhance its fresh food offerings with AI-powered solutions.

What is the stock symbol for Albertsons Companies?

The stock symbol for Albertsons Companies is ACI.

What are the goals of Albertsons Companies' partnership with Afresh?

The goals include reducing food waste by 50% by 2030 and improving fresh product supply management.

How will Afresh Technologies' solutions benefit Albertsons Companies?

Afresh's solutions will help Albertsons optimize forecasting, inventory, and ordering processes, ultimately enhancing product quality.

What impact does the partnership with Afresh have on Albertsons' environmental goals?

The partnership supports Albertsons' goal to reduce greenhouse gas emissions by minimizing food waste.