4 ways IoT data is decreasing commercial food waste
One year ago, European-based publisher and marketer I-Scoop, called 2017 “the year the Internet of Things will die.” “Good old principles of true usefulness are all too often put aside for applications and ‘smart’ devices that you don’t need or want,” said a post on the company’s site.
To be sure, these are strong words—but as I’ve covered before, there’s some truth in them.
However, if there’s a dark side to IoT results, there are also plenty of bright spots where purposeful IoT shines and companies are benefiting. One story worth telling is about progress being made in the food industry, which, according to one 2015 report, loses $160 billion a year in waste.
“We’re still seeing 30-40% food waste levels post harvest, and half of this waste is occurring before food even gets to consumers,” said Peter Mehring, CEO of Zest Labs, which provides food supply chain technology solutions. In fact, the waste is so bad, that Mehring said the standard practice for food retailers is to automatically figure in a drop of 15 points of their 38 point profit margins for produce due to food waste and spoilage.