IoT to tackle US $57 billion food waste problem
Admit it. We’ve all hung around waiting for the price-reduced pizza to drop into the chiller in the hope of snapping up a bargain dinner. But now the technology’s here which will allow prices across the store to drop automatically as products approach their sell-by.
US tech start-up Wasteless has introduced a dynamic pricing system into the retail environment to help supermarkets sell more and ultimately, waste less.
The system works by combining RFID sensing of individual items, a dynamic pricing engine and electronic shelf labelling. As well as reducing the price of food that’s nearing the end of its shelf life, the system lets stores know when popular items are running low so they can manage their inventories more effectively.
Good news for the food retail industry, and for bargain pizza hunters too.