CJ Freshway bets on digital transformation. It is designed to build the industry’s top-tier big data network for food raw materials.
The company has put all the stops to change everything it can do regardless inside or outside ones.
CJ Freshway said on Oct. 25 the company plans to put major information in all business areas into database sets, develop a platform to analyze and utilize them and implement data-based management in earnest.
The move is designed to cope with rapidly changing markets in advance and endlessly explore new business opportunities.
CJ Freshway’s digital transformation is designed not simply to meet customers’ needs, but it is pursued in all business areas.
The company is pursuing data-based management in all areas ranging from product planning to sales and logistics.
CJ Freshway’s digital transformation strategy takes on significance in the food raw material transaction market.
It is expected to raise the levels of the traditional food raw material transaction market, based on person-to-person and B2B networks.
CJ Freshway has already launched a project to gather, sort out and standardize data the company has accumulated for the past 20 years.
The data is known to have contained information such as customers, products, sales and other inside and outside information, including trends, business districts, bands and weathers.
The accumulated data are classified according to value levels and they are to be shared by CJ Freshway employees for utilization.
They are to be utilized not only for decision-making, but also for developing solutions tailored to meet customers’ needs.
Types of customers have so far been classified into simple categories such as restaurant, school and hospital, but digital transformation will reclassify them into favorite products and order patterns.
It will look into customers’ needs in a speedy and exact fashion by taking into outside factors and offer solutions tailored to meet their needs, CJ Freshway officials said.
A CJ Freshway official demonstrates a food scanner technology designed to look at leftover foods via big data and AI technologies. (Photos: CJ Freshway)
AI technologies will be also utilized. Curation services will be introduced in the group catering sector so that optimized food menus can be offered.
B2C companies have so far offered curation services tailored to meet customers’ needs, but CJ Freshway is the first company to introduce such services in the group catering sector.
CJ Freshway’s pilot curation service project has proved to have raised its product purchase rate to a 15-fold jump.
The jump is owed to the company’s reclassifying customers and grasping customers’ needs in an exact fashion through AI-based curation services.
CJ Freshway plans to have all customers utilize AI-based curation services.
A CJ Freshway official said the company is stepping on the gas to aggressively invest and expand infrastructure in order to introduce a system based on data analysis in all business areas.
Digital transformation will not only focus on IT technology upgrade and offer differentiated products and services, but also realize fundamental management innovation, the official said.
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