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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - FRISCO (Food Retail Industry Supply Chain Optimization (FRISCO): Food Discount Intelligence toReduce Food Waste through the implementation of the FoodLoop Platform)

Teaser

Summary

The urgency in developing innovative IT services & communication strategies with clear win-win messaging to reduce avoidable food waste has been addressed with this project: The SME Instrument Phase 1 FRISCO food discount intelligence platform project led us to the specific identification of a highly promising business opportunity in the field of circular economy in conjunction with of sustainability and digital technology.

Key project objectives were to prove the technical, practical and financial feasibility of the FoodLoop platform in the food retail industry, broken down in three specific project objectives:
i) to develop and introduce consumers & grocers to a digital platform that connects ones smartphone to all retailerâ€™s point of sale checkout computer in a way that security, real-time communication, a cost-efficient implementation and large scalability are ensured for both stakeholders;
ii) to measure the interest and motivation of consumers to engage with such a digital system in order to reduce food waste and save money and
iii) to provide a ROI analysis for grocers of the project\'s potential to contribute to reduce waste & increase profits.

Work performed

The work performed according to the objectives of Phase-1 includes:
1. assessment of retailer IT infrastructure, requirements and possible interface solutions;
2. development and prototyping of scalable, standardized API;
3. research & prototyping in Optical Character Recognition (OCR) device hard- & software, using incumbents as combined device solution provider;
4. implementation of standardized process for GS1 Databar expanded stacked composite interpretation, validation and automatic discounting at the checkout;
5. development and prototyping barcode generator and reading app-solutions for independent device combinations;
6. testing backend and apps in a field pilot;
7. carrying out consumer panel surveys;

Final results

Through novel combinations of existing technology along with completely new technology, both stakeholders can be incentivized to change their behavior and existing management processes towards an increased level of sustainability.

This project suggests high potential to become a supporting optimization platform tool, contributing to reduce avoidable food waste & increase profits for multiple stakeholders along the food supply chain.

As a result we generated a business plan within the Phase 2 approach, supported together with an R&D plan for Phase 2 and a scalable go-to-market strategy for internationalization.