LIOF and COMPUTD Collaborate to Combat Bakery Food Waste with AI
Limburg, Monday, 9 December 2024.
LIOF invests in COMPUTD’s AI tool to improve bakery sales forecasts, aiming to significantly reduce food waste, aligning with global sustainability goals.
Strategic Investment to Combat Food Waste
In a significant development for food waste reduction, LIOF (Limburg’s regional development company) has announced its investment in COMPUTD, an AI consultancy and technology company founded in 2019 [1]. This collaboration addresses a critical issue in the Netherlands, where an astounding 700,000 loaves of bread are discarded daily [1]. The partnership aims to accelerate the development of COMPUTD’s AI-driven sales forecasting tool specifically designed for bakeries [1].
AI-Powered Solution for Accurate Forecasting
COMPUTD’s innovative AI solution analyzes historical sales data to provide precise forecasting for bakeries [1]. This technology is particularly crucial as approximately one-third of food globally goes to waste before consumption [3]. The system’s advanced AI capabilities enable bakeries to optimize their production planning and significantly reduce surplus inventory [1]. By implementing specialized AI for demand forecasting, businesses can better align their inventory with customer demand patterns [3].
Local Impact and Future Development
Under the leadership of CEO Marcell Igneczi, COMPUTD is preparing to enter the next phase of product development with leading bakeries in Limburg [1]. The investment from LIOF will enable COMPUTD to expand its technological capabilities and scale its operations [1]. This initiative represents a significant step forward in the bakery sector’s digital transformation, as the global food automation and robotics market is projected to grow by approximately 5.4 billion units by 2030 [4].
Sustainability and Economic Benefits
The implementation of AI-driven forecasting systems offers dual benefits: environmental sustainability and economic efficiency. Advanced supply chain technology can significantly reduce fresh food overstock and prevent waste [3]. As LIOF’s investment manager Lenn Houbiers notes, this investment not only supports a promising company but also promotes a sustainable future by leveraging AI technology to address societal challenges like food waste [1].