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Fortenova Group cooperates with University of Cambridge06/26/2019
Fortenova Group’s values include leadership in the implementation of new technology and cooperation with the top educational institutions worldwide. As part of that orientation the team of MBA consultants from the University of Cambridge presented to operating companies management teams selected Artificial Intelligence and automation solutions and companies with high potential to partner with Fortenova Group.
Today AI and automation are used in 40 percent of large retail and consumer good companies and their share is expected to grow to 80 percent by 2021. As these solutions have significant impact both on the revenue and cost side of the businesses, their application is inevitable for every company that aims to be competitive and market leader. Hence, Fortenova Group management team started collaboration with the University of Cambridge to identify the most high-potential AI and Automation solutions.
The collaboration of Fortenova Group management team and the team of Cambridge MBA consultants resulted in systematic overview of international Artificial Intelligence and Automation ecosystem, short-list of potential solution and, after yesterday’s meeting with the management teams of operating companies, in identification of solutions with the highest potential to be implemented in Fortenova Group’s companies in the near future. The preferred solutions are in the area of image recognition driven shelf and SKU management, customer flow based in-store layout optimization, advanced customer analytics focused on personalized approach and micro segmentation, comprehensive market & consumer insights and optimization of inventory management. As the next step, the team will develop business cases for the selected solutions which will be followed by the pilot project.
Dragan Mrkajic, Director of Strategy in Fortenova Group has pointed out on that occasion: ”This cooperation builds on the Fortenova Group’s values of being the new technology implementation leader and on the extensive cooperation with the educational institutions in Croatia and all around the world. We are privileged, as the leaders in our business, to have the opportunity to cooperate with the Cambridge MBA students, as worldwide educational leaders. I found this cooperation to be extremely productive and beneficial for our company, since it will definitely bring additional value in the way we sell our products and service our customers, as well as in the supply chain.”
Ivan Babic, Director of the Turnaround stated his content with the selected solutions: “The quality of the finally selected solutions depended very much upon the comprehensive understanding of the Fortenova Group’s business by the Cambridge MBA students/consultants. This was critical for the project’s success, and it included organizational structure, business objectives and operations as well as product portfolio. This project brought important benefits to both sides in understanding key global trends, players and case studies where AI improved business performance in Retail and Food industry. “
Antonija Kožul, Senior Project Manager in Fortenova Group emphasized the following: “Gathering the best talents and most advanced technologies, together with the enthusiasm of the operating companies to adopt them, comprise the fundamental values of our Group. This project is exactly about that and therefore it is my privilege to be leading it.”
Chayanika Ranasinghe, Cambridge MBA consultant described the cooperation in the following statement: “I was keen to be a part of this unprecedented transformation embarked on by the Fortenova Group, working with a highly motivated and dynamic team. It is inspiring that the project carried out by the Cambridge MBA Consultants focusing on innovation and automation could have a real impact on improving Fortenova Group’s business operations in food and retail, as the group further leverages its brand and position in the CEE region.”
Shuntaro Horiuchi, Cambridge MBA consultant stated on the occasion: “The project by Fortenova Group is the effort to bring new value in established and sophisticated business based on cutting edge technologies. I am excited about participating in this ambitious project between Fortenova Group and Cambridge MBA, and expect this opportunity to be a catalyst for further value enhancement to customers provided by a player who has excellent presence in CEE region.”
Slaven Štekovic, Cambridge MBA consultant also emphasized the regional impact of the project: “Fortenova Group's focus on introduction of state-of-the-art technologies to their operations in order to improve value provided to their customers was crucial for me to join this dynamic and intellectually motivating environment. With experience in roles in the center of some leading high-tech and innovation-focused projects, I recognize the enormous value in working with such an influential player in building a showcase for the whole CEE and SEE region.”
This project is just the beginning of the cooperation between Fortenova Group and University of Cambridge,that will continue in the future through the transmission of knowledge, experience and best business practices as well as through the internship and employment opportunities for the MBA students. In addition, this builds on Fortenova Group’s dedication to partnerships with all other educational institutions in Croatia and worldwide.
About University of Cambridge
Founded in 1209, the mission of the University of Cambridge is to contribute to society through the pursuit of education, learning and research at the highest international levels of excellence. To date, more than 100 affiliates of the University have won the Nobel Prize.
The University comprises 31 autonomous Colleges, which admit undergraduates and provide small-group tuition, and 150 Departments, Faculties and institutions. It is a global university: its 19,000 student body includes 3,700 international students from 120 countries. Cambridge researchers collaborate with colleagues worldwide, and the University has established larger-scale partnerships in Asia, Africa and America.
The University sits at the heart of one of the world’s largest technology clusters, one which has created 1,500 hi-tech companies, 14 of them valued at over US$1 billion and two at over US$10 billion. Cambridge promotes the interface between academia and business, and has a global reputation for innovation. For more detailed information, including a history of Cambridge University and how the University works, visit our About the University page.
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