The IoT Solution to the World Food Waste Problem
The advance of the Internet of Things (IoT) has gone from the novelty of asking Alexa silly questions to an integral part of consumers’ lives. Consumers have synchronized and automated everything from mundane tasks to leading a healthier lifestyle. According to a recent study by Gartner, there will be 20.4 Billion connected IoT devices by the end of 2020.
Bain predicts the IoT market will grow to $520B in 2021, more than double the $235B spent in 2017. They predict that the bulk of that growth will come from data, analytics and integration.
Although many see this stat as nothing more than a big brother or corporate marketing scheme, Noble Patriarch has found a way to leverage the integration of IoT and the resulting analytics to improve profitability and sustainability throughout the food supply chain and more importantly, provide for The Food Insecure.
In addition to understanding the food supply and demand, Noble Patriarch will help facilitate the process of diverting food from waste and directing it to tables.
Leveraging the latest in automation and realtime decisioning, Noble Patriarch has developed a patented new technology that will help ease the burdens throughout the food supply chain by increasing efficiencies, creating a 360° feedback loop, substantially reducing food waste, helping the average family save money and putting food on the tables of those in need.
HOW IT WORKS
- A consumer uses the software app to review food inventory.
- A retailer receives data from consumer IoT devices to forecast needs for store shelves.
- A producer receives signals from retailer stakeholder via the app, adjusting production levels based on need data
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