Shelf Engine provides an automated prediction engine that utilizes daily sales data and real-world factors to generate optimal orders for perishable goods, minimizing waste and stockouts. This technology enhances grocery supply chain efficiency, reduces shrink, and increases sales by ensuring that fresh items are accurately ordered and readily available.
Funding
$60.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Grocery retailers face the challenge of accurately predicting demand for perishable goods, leading to significant waste from overstocking and lost revenue from stockouts. Traditional ordering processes often rely on manual forecasting, which is time-consuming and prone to errors due to fluctuating factors like weather and local events. This inefficiency results in reduced profitability and negative environmental impact.
Solution
Shelf Engine provides an automated forecasting and ordering solution specifically designed for perishable items in grocery stores. The platform uses machine learning algorithms to analyze historical sales data, real-world factors, and store-specific information to generate precise order recommendations. By automating the ordering process, Shelf Engine reduces waste, minimizes stockouts, and optimizes inventory levels, leading to increased sales and improved profitability for grocery retailers. The system integrates directly with suppliers, automatically submitting orders based on the intelligent forecasts.
Target Audience
The primary target audience is grocery retailers, convenience stores, and other businesses that sell perishable goods and seek to optimize their inventory management and reduce waste.
Features
- Automated order generation based on machine learning algorithms
- Integration with existing sales data and supplier systems
- Real-time adjustments based on weather, local events, and other external factors
- Reduction of food waste through optimized inventory management
- Minimization of stockouts to maximize sales and customer satisfaction
- User-friendly dashboard for monitoring performance and managing inventory
- Automated submission of orders to suppliers