**Bentonville**: Crisp, a retail data solutions provider, has acquired Shelf Engine, enhancing its platform with AI-driven demand forecasting technology. This move aims to improve inventory management, reduce food waste, and support retailers amid economic pressures and tight profit margins.
Crisp, a prominent retail data solutions provider based in Bentonville, Arkansas, has announced the acquisition of Shelf Engine, a company renowned for its expertise in AI-driven demand forecasting and automated ordering. The integration of Shelf Engine’s technology into Crisp’s collaborative commerce platform is expected to significantly enhance retailers’ ability to manage their inventory, reduce food waste, and improve shelf management, all while navigating a challenging retail landscape characterised by tight profit margins.
Are Traasdahl, the CEO and founder of Crisp, highlighted the importance of this acquisition, stating, “Retailers are going through a digital transformation. Integrating Shelf Engine’s comprehensive demand data into our platform will empower retailers to make real-time inventory decisions that directly impact their bottom line.” This approach aims to provide retailers with the data necessary to respond effectively to market demands and optimise stock levels, particularly concerning perishable goods.
Shelf Engine’s technology is designed to predict consumer demand at a granular level, potentially reducing spoilage and increasing fill rates across various retail channels. In light of current economic pressures, this integration promises to provide retailers with real-time insights that support data-driven decision-making. Traasdahl pointed out that, “In an era of tight margins and rising costs, precise data is the key to unlocking new revenue streams while reducing waste.”
Stefan Kalb, CEO and co-founder of Shelf Engine, expressed optimism about the partnership, stating, “Joining forces with Crisp allows us to scale our proven technology and deliver greater value to retailers and their supplier partners.” He further emphasised the goal of setting “a new standard in forecasting and inventory management” to help customers succeed despite market challenges.
The acquisition is seen as a pivotal development for Crisp, reinforcing its goal to leverage data to enhance operational efficiency for various stakeholders in the retail sector, including Consumer Packaged Goods (CPG) brands, distributors, and convenience stores. While the financial terms of the deal remain undisclosed, the move signals a strategic effort by Crisp to expand its capabilities and offerings in the retail data domain.
The Business Wire is reporting that Crisp’s commitment to merging these technologies aims to provide a robust framework for building resilient operational practices, ultimately benefiting both retailers and consumers alike.
Source: Noah Wire Services
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