Article by: Hari Yellina
Because of rising energy, production, and labour costs, the entire fresh produce supply chain is under strain, and food waste has long been a matter of controversy. Is it possible for technology to assist shops in delivering fresher products to customers while simultaneously lowering their costs? For the past 20 years, IMS Evolve has been integrating disruptive IoT solutions in stores and across the supply chain. “Keeping produce at the right temperature is a significant expense for a retailer; at IMS Evolve, we offer real-time monitoring and management of refrigeration systems to ensure they are compliant, optimised, and incorporate external factors such as weather conditions, stocking levels, and energy consumption while focusing on quality,” says Jason Kay, CCO at IMS Evolve.
There’s a lot of pressure in the food supply chain to cut down on food waste and product loss, and rising energy prices are prompting people to think about methods to cut back on consumption while preserving product quality.” Food storage costs account up a significant chunk of a retailer’s expenses, and energy costs are expected to rise by 200 percent to 300 percent in the following year. IMS Evolve introduced seven alternative cooling levels in collaboration with a major UK retailer, saving roughly 100,000 degrees of overcooling per year. “We’ve had a period of significant disruption due to Covid, but things are again returning to normal, and we’re focusing on the supply chain in a fresh effort to reduce operational expenses.”
Refrigeration control systems are frequently outdated, and new technology can revolutionise the way this is done, allowing businesses to shift fast and focus on digital innovation.” The issue is always asked: what is the return on investment for installing this new technology? “Because of the controls agnostic approach, it is not essential to replace all of the fridges and freezers in the store to adopt this technology.” Essentially, the system can sit on top of any current equipment, both old and new, and retrieve raw data. It could also be as simple as connecting a few different systems, such as weather data, maintenance management systems, or electricity usage during off-peak hours.
“We strive for a one-year return on investment, but in some cases when the technology can be implemented remotely, the ROI can be as little as a few weeks.” We are always aware of a company’s business model and devise the optimal approach for them, collaborating with them to reach their objectives.” Although IMS Evolve has previously worked mostly with retailers, the technology can be used to make smaller businesses more energy efficient. The technologies can also be utilised in cold storage and warehouses, with data management being used to demonstrate compliance and help obtain future financing.