Seventeen percent of the total food available in 2019 worldwide was wasted, while 4.8 percent of the perishable food that entered an Argentine supermarket was thrown away, and only 2 percent of what is not sold is donated. These data led Maximiliano Dicranian (an industrial engineer with experience in energy and oil) and Mauricio Kremer (a graduate in rural administration with experience in food companies) to come up with an innovative and impactful solution to this problem.
The entrepreneurs, who met during their MBA at IAE, had experience with retailers: they knew the problem first-hand and had the technical knowledge to found SaveTic, which was born as a thesis project and saw the light of day in 2020.
What do they do?
SaveTic is a technological platform that provides accurate information in real time on the expiration dates of each product on the shelf. In this way, it collaborates with the task of the restocker, if necessary suggests promotions (finding the price just before the expiration date) to minimize shrinkage, and encourages donations.
Through product traceability and data analysis, it provides accurate information on stock and expiration dates, and prevents unsold packaged food from remaining unsold.
How does it work?
It is an online platform that is easy to implement. By means of a code, validated by GS1, and data intelligence, the location and expiration date of the product on the shelf can be accessed. With this information, specific actions can be taken, for example, adjusting the promotion before reaching the expiration date, and adjusting it when there are fewer days left.
The platform’s main clients are large and small supermarkets, as well as food suppliers. They work with a subscription model, and the platform itself allows them to measure the savings that are being generated for the customer through better management of products by expiration date. “We know that the problem we are solving is global. That is why we also plan to start operating in other countries in the region around the beginning of 2022,” they project.
Initial investment: US$ 50,000
Turnover 2021 (projected): $15 million.
Number of employees: 3.