Enhanced Tool Provides Dynamic Forecasting and Efficient Data Integration
Provides Enhanced Ability to Manage Costs
BELVIDERE, NJ, July 19, 2023 (GLOBE NEWSWIRE) — Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (NASDAQ:EDBL, EDBLW))))), a leader in controlled environment agriculture (CEA), locally grown, organic and sustainable produce and products, today announced the launch of GreenThumb 2.0, an enhanced version of the Company’s proprietary, cloud-based, GreenThumb greenhouse management and demand planning system, which provides the ability to manage goods throughout the entire supply chain.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, stated, “I am pleased to announce the launch of GreenThumb 2.0, the next generation of our advanced, state-of-the-art, greenhouse management system. With an improved degree of automation, this upgraded system offers us a substantial enhancement in dynamic forecasting abilities, making the most efficient use of real-time data. This more precise predictive capacity is designed to predict our distribution partners’ needs with greater precision and fine-tune our growing plans to meet these needs, incorporating year-over-year trends, sales velocity, and seasonality fluctuations. In addition, GreenThumb 2.0 now features an upgraded purchase order screen, enabling seamless integration and consolidation of all purchase order data from Oracle’s Netsuite platform. This enhancement eliminates the need for manual data entry.”
“Another significant improvement in GreenThumb 2.0 is the integration of a real-time inventory system that meticulously tracks all raw materials, work-in-progress, and finished products. This improvement will empower us to scrutinize our costs down to the smallest detail for each component involved in plant growth. We believe this level of detail will be valuable in managing our expenses.”
“By closing the loop on the production cycle and incorporating real-time data, we are able to optimize our processes, and identify opportunities to reduce cost of goods sold. The dynamic generation of forecasting and aggregation of purchase order data has saved countless manhours and provided real-time transparent access to the data for all departments. This gets us one step closer to a fully self-learning system that can dynamically optimize the forecasting algorithm based upon historical accuracy and identify cost of goods sold fluctuations in real-time and make any necessary adjustments,” commented Scott Prendergast, Chief Data Officer at Edible Garden.
