Close cooperation between Britain and Croatia as Cambridge University students join forces with the Fortenova Group.
As Poslovni Dnevnik writes on the 18th of April, 2019, consultants from the University of Cambridge are working on a project to find the best solutions in the field of artificial intelligence and automation for Fortenova’s operative companies. It seems that Croatia’s Foretnova, the former Agrokor, is entering a new era indeed.
Fortenova Group’s values also include a leading role in the implementation of new technologies and cooperation with leading educational institutions in Croatia and across the world. Within this direction, Collaboration with the University of Cambridge, whose team of consultants, presented selected solutions in the field of artificial intelligence and automation to the management of the operative companies of the Fortenova Group. At the same time, companies with great potential to be partners of Fortenova in this area were presented.
Today, artificial intelligence and automation are used in 40 percent of large retail chains and consumer goods manufacturing companies, and it is expected that by 2021, their share will grow to as much as 80 percent. Since these solutions have a significant impact on both revenue and company operating costs, their implementation is totally unavoidable in any company that wants to really be competitive and a have a chance at being a market leader.
Therefore, Fortenova’s management has started collaborating with the esteemed British Cambridge University in order to find proper solutions in the field of artificial intelligence and automation that have the greatest potential.
The collaboration of Fortenova’s management team and a team of consultants from the University of Cambridge resulted in a detailed review of the international ”ecosystem” of artificial intelligence and automation and a short selection of potential solutions, and after that, a meeting with the management teams of Fortenova’s operative companies and an attempt at identifying the solutions with the greatest potential for application in those companies in the future took place.
Preferred solutions come from the field of image recognition, frameworks, image optimisation, shop-based optimisation on customer-led shopping, advanced customer analytics, which are focused on personalised access and micro segmentation, an extensive insight into market trends and the needs of consumers, and finally, inventory management optimisation. The team of consultants from the University of Cambridge will elaborate business cases for selected solutions in the next stage, followed by the implementation of the chosen pilot project.
Dragan Mrkajić, Fortenova’s strategy director said on this occasion: “This cooperation supplements Fortenova’s values, which wants to be a leader in the implementation of new technologies and to broaden its cooperation with educational institutions both in Croatia and the rest of the world. As leaders in its business areas, we’re privileged to be able to cooperate with Cambridge University’s MBA study consultants, as this business management study is considered to be the world leader in education. I consider this cooperation to be extremely productive and useful to our company, as it will definitely bring added value to our way of selling our products and the services we offer to our customers, as well as our supply chain.”
Ivan Babić, director of Fortenova’s transformation, expressed his satisfaction with selected solutions: “The quality of final solution choice largely depended on the fact that consultants from the MBA study at the University of Cambridge were able to gain a comprehensive understanding of the way Fortenova does business. This was of crucial importance to the success of the project, including its organisational structure, its business objectives, its operational business and its product portfolio. The project has brought significant benefits to both sides in understanding key global trends, players, and case studies where artificial intelligence has improved business performance in the retail and food industry.”
Antonija Kožul, senior project manager at Fortenova, said: “The gathering together of the best talent and the most advanced technologies together with the enthusiasm of Fortenova’s operative companies in their adoption make up the fundamental values of our group. This project is about just that and this is precisely why I consider it to be a privilege that I’m the head of it.”
Chayanika Ranasinghe, an MBA consultant from Cambridge University, described the collaboration as follows: “I was very interested in participating in this unique transformation which the Fortenova Group has begun to work on, with a highly motivated and dynamic team.”
Shuntaro Horiuchi, an MBA consultant from the University of Cambridge said on this occasion: “The Fortenova Group’s project is striving to introduce new value in established and sophisticated work based on the latest technologies. I’m excited to have had the opportunity to take part in this ambitious project and I expect that this opportunity will accelerate further increase of value for buyers.”
Slaven Štekovic, an MBA consultant at the University of Cambridge, also stressed the regional impact of the project: “The focus of the Fortenova Group’s introduction of state-of-the-art technologies in its business to enhance value for its customers was a key factor which motivated me to join this dynamic and intellectually stimulating environment. Along with the experience I’ve gained at the core of some of the leading high tech innovation projects, I recognise the tremendous value of cooperation with such an influential company in building a pilot project for the entire region of Central and Eastern Europe, and South East Europe.”
This project is the beginning of collaboration between Croatia’s Fortenova Group and Britain’s University of Cambridge, which will continue in the future through the transfer of knowledge, experience and the best business practices.
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