Moncton, NB-based Fiddlehead Technology uses predictive forecasting and machine learning to help food and beverage manufacturers more accurately predict consumer demand and improve competitiveness.
We sat down with Fiddlehead co-founder and CEO Shawn Carver to discuss his company’s growth, and how data analytics is transforming the food sector.
Q: Why did you start Fiddlehead, and what’s your mission?
A: I started Fiddlehead Technology in 2013 with the mission to help the world produce more food with less waste using data science. Our primary focus has been on providing professional services centered around predictive analytics, simulation, and optimization projects for the fast-moving consumer goods (FMCG) industry, with a focus on food and beverage manufacturers. We strive to leverage the power of data science and advanced analytics to enable food manufacturers and retailers to optimize their operations, reduce waste, and ultimately increase global food production.
Q: What are your goals for your company?
A: Our focus in 2024 is to scale the company. We are growing our team and plan to have 50 full-time employees by the end of this year, and recently opened our Toronto office, which gets us closer to some of our key customers. We are also adding managed service offerings that leverage causal AI for solutions like forecasting, process optimization and pricing.
Q: Who are your food industry customers? What services do you offer them?
A: McCain Foods, one of the largest frozen foods manufactures in the world, is a major customer and also a minority shareholder in Fiddlehead. We are currently helping McCain leverage AI across its business, from forecasting to crop prediction to leveraging optimizing their global network of manufacturing plants. In recent years, we have added several large companies to our list of clients, including Wilton Brands and Day & Ross among others. The key areas where we have the most experience are:
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Supply chain optimization (forecasting, inventory management, and network optimization)
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Manufacturing optimization (optimizing production schedules, predictive maintenance, and improving food safety and quality)
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Pricing and profitability optimization (identifying opportunities for profitable growth)
A: Data analytics empowers food companies with actionable insights that allow them to remain competitive by optimizing operations, enhancing customer experience, and diving profitability.
A: Every stage of manufacturing has the potential for improvement with a data mindset. With a data-driven model of their company, food manufacturers of all sizes become more resilient to the growing complexities of today’s markets, which in turn improves their overall profitability and mitigates risk. COVID is a recent and stark example of this. Companies with a strong data foundation were much more capable of navigating changing consumer preferences and the upheaval across global supply chains, which ultimately allowed them to maintain, and in many cases gain, market share in their categories. In short, a data mindset allows large food companies to act small and small food companies to act large. For example, data allows large manufacturers to remain nimble by quickly responding to changing market trends like their smaller competitors. While small companies can optimize their operations and benefit from the kind of efficiency gains enjoyed by category leaders.
A: We offer a unique combination of data science and in-depth understanding of FMCG – particularly food and beverage. Providing advanced analytics and AI solutions for food manufacturers over the last 10 years has given us a solid understanding of the industry’s business challenges, IT infrastructure, processes, products, and, of course, datasets. This experience combined with our managed service approach to data science allows us to develop and deploy solutions that deliver real ROI on an accelerated time.