Tarragon Systems
Staying one step ahead in fresh
Introduction
At Tarragon Systems, we are on a mission to reduce the environmental impacts of food waste by helping multi-unit restaurants cut back on excess perishable inventory. Our predictive intelligence platform helps managers forecast demand and replenish their perishable inventory, boosting profits and reducing food costs stemming from excess inventory and spoilage.
Problem
More than one-third of all food produced is wasted or lost, and according to the World Wildlife Fund (WWF), food waste accounts for 8-10% of global greenhouse gas (GHG) emissions. To put this in perspective, the GHG impact of global food waste is greater than the entire airline industry combined.
Of this waste, 40% can be attributed to grocery and food-services, and the restaurant industry sheds $162B in food waste costs every year. Given the tight operating margins in foodservice, store owners and managers are looking for tools to reduce spoilage and manage time-sensitive perishable items. And this is where Tarragon Systems come in.
Opportunity
Tarragon Systems is a demand forecasting solution for multi-unit restaurant chains. We help restaurant owners and managers reduce food costs through demand forecasting, optimized ordering, and production planning. Moving beyond historical sales, Tarragon trains machine learning models on demand signals at the individual store level, so managers can place the perfect order to replenish their inventory and line cooks can know how much to prepare for the dinner shift. We aggregate demand signals, such as weather forecasts, holidays, sports games, and local school schedules, that could influence consumer behavior at specific restaurant locations.