Dive Brief:
The inefficient supply chain is one of the main reasons for food waste. Almost one-third of global food production ends up wasted, according to WEF.
These loses then lead to added procurement and distribution costs, resulting in both business and final consumer spending more on the products, the report said.
Food loss can be the result of a number of circumstances, from lack of best practice on the farmer's part to not enough space on the cold chain, but knowing where exactly the problems arise is not typically known, WEF said.
Greater implementation of IoT technologies could be the helping hand
the food supply needs — providing a digital trail of the food's
journey.
The report provided estimates for how different technologies could reduce food loss: