There’s got to be a better way... Stefan had discovered the problem of food waste first hand while running Molly's, a grab & go food company he started in 2009. By 2014, Stefan had grown the company to over 400 regional retail locations. But ordering accurately proved to be challenging, as growing Molly’s food waste was at 28% and was eating into their bottom line.
Hungry for a better solution, Stefan talked to his friend (and co-founder) Bede Jordan about the problem. At the time, Bede was working at Microsoft as the HoloLens Principle Software Engineering Lead. With Stefan’s actuarial science background and Bede’s engineering brilliance, they were able to build a model and app to considerably improve perishable food forecasting.
The result? Cutting Molly’s food waste in half, down to 13%. In 2016, Stefan and Bede quit their day jobs to launch Shelf Engine—with the mission of transforming the food supply chain by helping grocery stores reduce waste and increase sales through intelligent forecasting. They were fortunate to have funding since day one, thanks to Initialized, Liquid2, and the Founders Co-op.
Today, Shelf Engine is managing orders for the best grocers in thousands of stores nationwide. Drastically increasing their customer’s profits by eliminating shrink and out-of-stocks.****