DecisionNext and IQ Foods Partnership Provides Retail and Food Service Customers More Buying Power
DecisionNext and IQ Foods have partnered to deliver industry-leading technology and information to retailers that utilize cold storage opportunities for fresh meat products. DecisionNext is a prescriptive analytics firm that offers decision makers in food, agriculture and mining actionable and transparent recommendations that allow for better informed decisions when buying and selling commodities.
The combination of DecisionNext and IQ Foods – a cold storage provider – gives beef buyers more flexibility in purchasing, allowing them to take advantage of market opportunities. The combination of the DecisionNext risk-aware forecasting tools and insights combined with the opportunity IQ Foods provides strategic partners, enables IQ’s customers to leverage seasonal pricing swings and marketing opportunities.
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The most recent USDA cold storage report indicates cold storage stocks of meat and poultry are at 2.12 billion pounds, approximately 13% below year ago levels. As production continues to ramp up to pre-COVID-19 rates at processing facilities, cold storage may be an option for meat buyers looking to take advantage of seasonal shifts in the market.
“The partnership with DecisionNext gives our customers the opportunity to make buying decisions more accurately timed to the market, taking advantage of seasonal opportunities to meet supply demands,” said Brandon Lobaugh, President of IQ Foods. “The industry-leading market analytics of DecisionNext, combined with our team and customers is a natural synergy.”
DecisionNext technology combines artificial intelligence and human intelligence for overall stronger decision making on a variety of levels for a protein market that is forecast to value $62 billion by 2026.
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“The partnership with IQ Foods is unprecedented in the industry,” said Arden Arnold, President of DecisionNext. “Our machine-powered data analytics and forecasting tools combined with the cold storage opportunities provided by IQ Foods, gives progressive buyers the flexibility they have not had in the past.”
Within the protein industry, DecisionNext provides data analytics and forecasting focused on helping customers in the agribusiness and global protein industries gain a better understanding of risk management to make better, faster decisions from procurement to sales.