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Walmart Selects Agritask as Partner to Enhance Produce Sourcing Decisions

Walmart Selects Agritask as Partner to Enhance Produce Sourcing Decisions

 


BENTONVILLE, Ark. and TEL AVIV, Israel, June 20, 2024 – Walmart (NYSE: WMT), the world's leading omnichannel retailer, today announced a strategic partnership with Agritask, a produce supply intelligence company. Working with Walmart Global Tech's Sparkubate program, the company will pilot a technology solution that empowers procurement managers to make more informed decisions about harvesting seasonal fruits such as cherries and blackberries. This first-of-its-kind Agritask initiative aims to ensure supply certainty, reduce food waste and guarantee fresh produce to shoppers. Pending pilot results, the retailer may consider leveraging Agritask's solutions and insights at scale for a second season.

The pilot will deploy Agritasks' remote sensing and data analytics tools across various regions in the United States and Mexico to provide real-time, hyper-local insights into in-season blackberry and cherry harvests from Walmart's select suppliers. These crops were selected because they are highly sensitive to temperature fluctuations and moisture levels that can significantly affect growth, quality, transportation and shelf life. Through real-time monitoring, the collaboration will facilitate faster responses to adverse environmental conditions and better manage supply, thereby improving overall produce quality.

Examples of insights include: Immediate alerts about emerging or forming risks and their potential impacts to targeted crops, such as an unexpected frost negatively impacting cherry harvest, allow Walmart to quickly adjust sourcing strategies. Real-time assessment of expected harvest timing, delays, or advances allows Walmart to proactively manage inventory levels and consider alternative sourcing options. Up-to-date metrics to meet yield targets throughout the growing season enable Walmart to optimize supply chain logistics and ensure sufficient product is available to customers.

“Challenges around purchasing and planning accuracy in agriculture can be difficult to address due to data inconsistencies and environmental uncertainty. Agritasks' technology has the potential to fill critical information gaps that procurement managers often face when forecasting yields,” said Kyle Carlisle, vice president of procurement innovation and supply assurance at Walmart.

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2/ https://corporate.walmart.com/news/2024/06/20/walmart-cherry-picks-agritask-as-partner-to-enhance-produce-sourcing-decisions

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