Fresh Food for Supply Chains (with Richard Lubienski)


00:00 Introduction
01:28 How does one find the balance between rotating stock levels, perishability, and minimizing stock waste?
04:00 Do mainstream supply software tools miss important granularity when it comes to perishable items?
06:52 Discussion of National Retail Federation (NRF) tradeshow
09:48 Does data on freshness influence willingness to buy and willingness to pay?
11:42 What is the biggest challenge when trying to optimize a network of grocery stores?
15:47 How does one manage the various forces of randomness (e.g., weather affecting harvests, in-store promotions causing sales fluctuations)?
18:33 What is Richard’s overarching vision with All Futures?
23:26 What value is there in dedicating resources and staff to investigating supply chains in this manner?
27:29 What are the benefits of employing a supply chain network that focuses on well-aggregated decisions (rather than pursuing the illusion of perfect forecasting)?
31:41 How can one implement a forecast that factors in multiple optimization considerations across several departments (e.g., transport, pricing, etc.)?
35:44 How do you see the food retail market changing in the future?

Description

How do the principles of supply chain forecasting apply to a business dealing with perishable stock? Are there unique supply chain challenges for companies in this space? What additional layers of complexity and randomness must this sector contend with when forecasting stock levels?

In this conversation with Joannes, Richard Lubienski - Managing Director of All Futures - outlines his insights on the crucial variables, methods and considerations for companies in this space. Their thoughts on the role perishability plays in a company’s forecasting model is especially interesting.