IoT may help to tackle food waste, fraud and changing consumer expectations. 1.3bn tonnes of food with a value of $750bn are wasted every year. Retail operators could account for as much as 25% of this figure through food loss in the supply chain. Meanwhile, consumers are becoming increasingly concerned with where their food comes from. IoT can improve traceability from farm to fork. A 4 barcode can be created as soon as a product is harvested, which can then be monitored at every stage of the supply chain. By ensuring better management of temperature in transit, there have been cases where customers add two days on to their sell- and use-by dates. This could save hundreds of millions, if not billions, of dollars by cutting waste.
IoT may help to tackle food waste, fraud and changing consumer expectations. 1.3bn tonnes of food with a value of $750bn are wasted every year. Retail operators could account for as much as 25% of this figure through food loss in the supply chain. Meanwhile, consumers are becoming increasingly concerned with where their food comes from. IoT can improve traceability from farm to fork. A 2D barcode can be created as soon as a product is harvested, which can then be monitored at every stage of the supply chain. By ensuring better management of temperature in transit, there have been cases where customers add two days on to their sell- and use-by dates. This could save hundreds of millions, if not billions, of dollars by cutting waste.