The goal of US company Reserva Food Systems, Inc. (RFS) to create the most comprehensive electronic trading platform for the fresh produce industry has moved a step closer with the signing of a Memorandum of Understanding with Escavox, Australia’s leading supplier of supply chain intelligence.
Escavox’s ability to generate and provide analytical real-time supply chain data is the latest core feature added to RFS’s recently launched B2B electronic marketplace for the fresh produce industry.
The two companies’ pilot project is in association with a large-scale Mexican commercial avocado grower/exporter currently supplying the US market.
Scheduled to launch this quarter, the pilot will draw on Escavox’s proprietary technology and expertise in providing real-time visibility into the entire avocado supply chain as avocados move from harvest in Mexico to grocery and specialty produce stores in the United States.
Other integrated services scheduled to be introduced within the data-driven, cloud-based ReservaFS Marketplace will include free access to a proprietary produce-centric whole-of- supply-chain enterprise resource planning (ERP) platform.
The ERP platform will allow RFS subscribers to manage (with seamless integration between the user’s general ledger, inventory, and day-to-day trading activities conducted on the ReservaFS Marketplace) all the user’s operational activities, as well as proprietary real-time transactional data and trade finance facilities.
Proprietary precision irrigation recommendations and analytics to assist growers with climate change related water conservation measures, and a seamless foreign exchange payment processing hub are also available to subscribers of ReservaFS Marketplace.
According to RFS founder and CEO Jhonatan Sanchez, the inclusion of Escavox in the RFS ecosystem means users of the ReservaFS Marketplace will have real-time supply chain data at their fingertips, enabling food suppliers to make confident decisions about their logistic operations.
The enhanced supply chain visibility afforded by Escavox, Sanchez said, was also likely to accelerate the launch of RFS’s new traceability ReservaFS Produce TraceView® product to all users of the RFS Marketplace during the first quarter of the 2022 calendar year, provided key milestones in the pilot project were met.
“We and our customers are extremely excited to be moving forward with this joint pilot project to prove the value to all stakeholders of real-time farm to grocery shelf supply chain intelligence and analytics provided by Escavox’s world-class and cutting-edge technology,” Sanchez said.
Escavox co-founder and CEO Luke Wood said the pilot project settled on avocados due to Escavox extensively demonstrating its value proposition in the Australian avocado supply chain, an industry with an estimated gross value of production at $493 million AUD (Australian Dollars).
Data suggests Mexico’s avocado exports to the US alone in 2020 topped $2.2 billion USD (United States Dollars). According to USDA (United States Department of Agriculture) intelligence, Mexico’s exports to the US of avocados account for only about seven per cent of all Mexican agricultural exports to the US, Mexico’s largest agricultural export market.
“We are extremely excited after many months of discussions and getting to know the RFS team to finally have signed this MOU,” Wood said.
“We believe that through our joint pilot project, the transparency offered to all supply chain participants of Escavox’s proprietary technology will become the industry standard for imports of Mexican produce into the United States.”
About Reserva Food Systems, Inc.
Headquartered in Syracuse, New York, Reserva Food Systems, Inc. is a leader in the emerging fresh produce electronic marketplace field by helping to shorten the supply chain for all participants while making available unique tools and services to users of its B2B platform. For more information on Reserva Food Systems, Inc. visit https://reservafs.com/ or call +1 (954) 737-3782.
About Escavox Pty Ltd.
Based in Sydney, Escavox provides sustainable solutions to the fresh food industry, so its customers can deliver consistent fresh quality product, reduce losses, and protect their brand.
Escavox gives fresh produce a voice by monitoring fresh foods as they travel through the supply chain from farm to retail shelf and analyzing the data to provide real-time reports and analytics to support decision making.
Escavox data is live, independent, and objective, presented on easy-to-read dashboards in real-time.
The autonomously captured data gives food supply managers the confidence to make timely and informed decisions about their product’s supply chain arrangements.
For more information on Escavox visit https://www.escavox.com/ or call +61 2 7209 3858.