Key Points:
- Walmart collaborates with Cropin to enhance forecasting for its fresh produce supply chain using artificial intelligence technology.
- Cropin’s agri-intelligence platform and AI-powered solutions will be utilized by Walmart to improve yield forecasting, monitor crop health, and predict seasonal transitions more accurately.
- This partnership aims to strengthen Walmart’s sourcing solutions in the U.S. and South America, building on previous tech collaborations to enhance the food supply chain.
Insights:
As businesses seek to fortify their supply chains against disruptions like extreme weather and market fluctuations, Walmart’s alliance with Cropin is timely.
Cropin acknowledges the challenges posed by climate change in today’s world, emphasizing the need for proactive measures.
According to a report by Everstream Analytics, extreme weather events pose the biggest risk to supply chains in 2024, impacting food production and distribution.
Cropin’s technology leverages crop insights and risk assessments to optimize shelf life, tracking sustainability metrics and providing valuable insights for retailers.
By utilizing automated tools for forecasting and monitoring, retailers like Walmart can improve product availability, reduce waste, and enhance produce quality in response to market demands.
In a previous initiative, Walmart piloted agriculture technology from Agritask to improve sourcing decisions and crop management, showcasing the retailer’s commitment to leveraging innovation for sustainable practices.