For both retailers and suppliers, shrink is a massive problem. It can even reach up to 20% of operating profits for some retailers which is a staggeringly large number. One of the main causes of shrink is food waste. Every year, America alone wastes up to 160 billion pounds of food. When your profits are…
Knowing or appreciating the value of our food can be hard to do nowadays. With so many different options for everything you could want at the grocery store, it’s easy to overlook the fact that the food does not just magically grow right on the shelves. We produce way more than is necessary to live…
Roughly 33 percent of the food produced in the world never reaches the mouths for which it was intended. Wealthy individuals waste more than they consume and even more, food spoils during transport. Roughly $1 trillion worth of food is annually tossed needlessly aside—causing a burden on the environment. This fact is even more morally disturbing considering the over 800 million people who go to bed hungry each day and the thousands who die because of hunger.
For fans of protecting the environment, composting organic waste and foodstuff should be common practice. Both inexpensive and convenient, composting can significantly reduce local disposal costs while enriching the soil for future food growth. Composting is a win-win situation for environmentalists and city dumps. For those unaware of the benefits of composting, let’s explore four key reasons many are doing it.
The United States Environmental Protection Agency (EPA), in a continued effort to educate businesses and food entrepreneurs on proper food disposal, have established a food recovery hierarchy. The agency explains that although normal food disposal routines may reduce leftover waste, plenty of inedible components remain that cannot be reduced without proper composting.
The never-ending goal of ending world hunger starts with caring about the exorbitant food waste that is prevalent across the globe. One way that corporations and manufacturers could assist the many US food banks currently suffering from shortages of food donations would be to loosen restrictions on donating unsold food items.
Loss prevention is a huge part of retail. Regardless of size and the amount of shrink, controlling loss of products impacts retail as a whole.