ArrowStream, Inc., a supply chain innovator that combines expertise in data science and analytics to improve the way supply chains perform, announced the successful conclusion of its 2016 Executive Summit, hosted for ArrowStream customers and other supply chain and foodservice professionals.
A select group of 35 executives from major food industry companies such as US Foods, Popeyes, and Einstein Noah Restaurant Group came together for a conference focused on technology innovation, supply-chain collaboration, and sharing of best practices. Panelists and discussion groups, including restaurant chains, distributors, suppliers, and technology experts addressed top industry challenges such as food safety and traceability, supplier sourcing, and the evolving role of supply chain intelligence.
The conclusion shared among attendees was that technology innovations in data science and guided analytics are poised to change the way the foodservice industry operates.
"The industry is quickly moving beyond data visibility as its top goal," says Frank Morgiewicz, chief executive officer at ArrowStream. "Users want to be told where to go to take action. The technology platforms that will drive the industry will be those that can combine data science with deep industry intelligence in order to draw attention to the right issues and opportunities and make concrete recommendations for action."
Deb Lukacsko, chief executive officer at Original Review, presented at the conference and described the growing impact that "Big Data" analytics is having on the restaurant business.
"Data is driving every significant supply chain decision for restaurant chains today," said Lukacsko. "By applying data science into price elasticity modeling and promotions forecasting, restaurants are able to uncover more efficiencies and achieve greater savings."
Food safety and traceability were also top-of-mind for many attendees, as regulatory changes and product tracking standards gain momentum to protect the consumer.
"Every foodservice supply chain executive has whole chain visibility and product traceability at the top of their priority list today," says Telly Smith, VP of purchasing and distribution at Golden Corral. "The impact of less-than-stellar supply chain safety practices can have a significant effect on the brand. Technologies that provide robust product traceability have become increasingly valuable and integral to foodservice supply chain operations."
Other highlights of the Executive Summit included an engaging discussion of supplier sourcing strategies, a roundtable conversation on distribution trends, and a session on best practices for managing limited time offers. Attendees such as Jeffrey Amoscato, vice president of supply chain and menu innovation for Shake Shack, one of the fastest growing chains in America, found the conference as a whole to be especially impactful.
"It was fantastic to partake in discussions with other executives from top restaurant chains around the country," adds Amoscato. "We covered so many pertinent topics, and I can't wait to apply some of these insights to Shake Shack."
John Dunion, chief supply chain officer at CKE, also joined in on touting the Summit, "ArrowStream is focused on delivering efficiencies to those managing foodservice supply chains. This conference provided yet another example of their thought leadership and innovation, and we're looking forward to their continued support."