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Food Waste & Markdown Budget Ownership

by Elizabeth Harris, Morrisons

Description

While the motivation for retailers to reduce food waste is far beyond just simply the cost of lost profits, it is still the case that the lost profits from food waste and markdowns is staggering, often at over 3% of total retail sales, meaning lost profits in ten's, hundred and thousand of millions. The question this session will explore is where the budget for these lost profits sit within the organisation, and the key performance indicators set for each function in the business.

To initiate the discussion, Elizabeth (Morrisons) will share the current thinking at Morrisson's and where the budget and "ownership" of food waste and markdowns sits within their organisation, and the changes they are exploring to see whether if the budget was moved to another function and silo, more significant progress on food waste would be made. In the discussion that follows, other retailers would share their current thinking and where the budget sits within their organisation, with stores, supply chain or the buyer, and any learnings they have of changing the ownership

This session is part of the two day working group meeting [Virtual background setting = Lyon] - the sessions are for retailers, producers and academics only. To register for this session or any of the others in this two day meeting or the rest of the year, click to register

May 19th - Store Level Forecasting & Ordering - Retailer Case Study on the introduction of Machine Learning to Sell More and Waste Less

May 19th - Understanding the True Cost of Food Waste - Introducing a new financial model to count the true cost of food waste

May 20th - Retailer Case Study - One retailers journey towards zero waste

May 20th - Smart Labels - The X5 business case

May 20th - Tesco and Olio - Introducing new ways to manage surplus food

19

May

12:00

REGISTER
Date and Time
Wednesday May 19th - 12pm BST
Location
Virtual

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