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Kshitija from FOBOH
August 2023

Future of F&B Ordering

We are an AI-enabled SAAS platform simplifying and connecting wholesale trade starting with the $182b food and beverage industry. We leverage smart tech (NLP / ML) to streamline ordering, inventory and cash flow management (especially focussed on reducing manual & error-prone processes) allowing suppliers to scale, effortlessly. Our vision extends to unlocking data to reduce food waste and emissions.

Wholesale Ordering Is Fragmented

 

In 2023 the $182b F&B wholesale industry, specifically foodservice distributors and manufacturers  rely on tools, processes and systems that are clunky and outdated.  We are talking excel sheets to manage everything from orders to logistics, carbonised invoices for payment collection and reams of paper storing customer details and in best case scenarios really old legacy systems that are inefficient and insufficient.

 

Wholesale ordering currently is a fragmented and offline challenge. In foodservice, orders are submitted via SMS, whatsapp, email, phone calls and even fax machines. There is also a tremendous gap in the customer experiences that are delivered in B2C vs B2B. The future is better, with gen Z hitting the workforce and millenials getting into decision making roles, this gap and need for better solutions is salient. Customers are actively seeking better digital customer experiences as a differentiator. Growth of global B2B e-commerce is at a CAGR of 18%. For those that aren’t going digital today, with smart AI solutions like that of FOBOH we can still deliver the benefits by leveraging Natural Language Processing and AI.

 

Industry wide payment practices are not only fraught with errors but also non-compliant payment practices such as storing credit card details in team members notepads. The future is digital and automated, digital B2B Payments are growing at a CAGR of 10% globally.

 

Not evolving and leveraging available technology ultimately means a much higher cost to serve leading to reduced margins due to manual errors, non compliant payment practices, cashflow issues, manual labour dependency to scale. Unstructured, disorganised data is hard to drive precise forecasting leading to overstocking to maintain SLAs with increased cost of working capital. In the future with the right set of tools we make better forecasting and planning directly impacting food waste and emissions.

This technology deficit in wholesale has hindered this vital industry’s growth. It’s time for a change.

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We’re Reducing Trucks and Landfill

Our vision is to enable a simpler, smarter and more sustainable wholesale ecosystem. By supporting multiplayers of the ecosystem on the platform and the data that creates, we will be able to bring them together to realise synergies that are bigger than just an individual business.

 

Ultimately, we want to reduce the number of trucks on the road and the food that goes to landfill. 70% of food waste happens in the supply chain before food reaches the consumer. Supply chain impacts account for more than 80% of greenhouse gas emissions. This needs to change. We envision a world where food is distributed intelligently and equitably, where fewer trucks drive smarter routes and where economic opportunity is afforded to people from all walks of life.

 

We are solving a very complex problem very differently to most players. We are starting with the customer and truly designing tech to complement and support their existing behaviours rather than forcing them to change everything all at once. We are taking our customers on a journey to driving efficiency, scale and sustainability leveraging smart tech and their data.