DUBAI, United Arab Emirates,
Feb. 22, 2021 /PRNewswire/ --
Majid Al Futtaim, the leading
shopping mall, communities, retail and leisure pioneer across the
Middle East, Africa and Asia – owner and operator of the Carrefour
franchise in these regions – and IBM (NYSE: IBM) today
announced that Majid Al Futtaim has
joined IBM Food Trust, a blockchain-enabled global ecosystem for
the food industry run on IBM Cloud.
Carrefour will become the first retailer in the region to
offer new levels of insight and transparency to its
customers about the provenance of their food via
end-to-end visibility on products throughout its supply chain,
promoting increased quality, credibility and safety for
its shoppers.
The initiative will start with two initial
product categories, Carrefour's own fresh chicken brand
and microgreens harvested from select
in-store hydroponic farms, before expanding into more product
lines. All participants in this initiative across the
supply chain will benefit from a smarter, and more sustainable
food ecosystem. The digitisation of transactions and data provides
a more efficient way of working across the supply chain for
growers, processors, shippers, retailers, regulators, and
consumers.
By simply using their smartphone to scan a QR code on
participating products such as Carrefour's fresh chicken,
customers will be able to get immediate access to actionable
food supply chain data, from farm to store shelf. The history of
the product, including production process, halal and hygiene
certifications, date of birth, nutrition information and
temperature data, will be readily available once uploaded onto the
blockchain.
The growing demand for food traceability is evidenced by
research conducted by the IBM Institute for Business Value (IBV),
showing that 73 per cent of those responding to a survey said
traceability of products is important to them. Of those who said it
was very important, 71 per cent of respondents indicated they are
willing to pay a premium for brands that provide it.
"Trust in the food supply is becoming increasingly important
worldwide, a trend accelerated by changing consumer demands and the
subsequent health and wellbeing concerns arising from the COVID-19
pandemic," said Hani Weiss, Chief Executive Officer, Majid Al
Futtaim Retail. "It is therefore imperative for us to
invest in ensuring quality throughout the value chain while
simultaneously working to build robust customer trust and loyalty.
In meeting the new market expectations, we are now offering
enhanced food traceability for our valued Carrefour customers and
improved operational efficiency for our business."
Majid Al Futtaim is engaging with
its supplier partners to enable broader participation in this
initiative, giving Carrefour customers access to traceability
details across diverse products throughout the UAE, before
introducing it to other Carrefour markets operated by the company
in the Middle East, Africa and Asia.
"Thanks to the availability of advanced cloud-based,
blockchain technology and the commitment of Majid Al
Futtaim to deliver the highest quality to its customers, we are
proud to be using this supply chain solution to provide the very
best in quality, safety and trust to our customers in the markets
we operate in," Nalla
Karunanithy, Chief Digital Officer at Majid Al Futtaim
Retail said.
IBM Food Trust uses decentralised ledgers to record transactions
in a verifiable way. Through a collaborative blockchain network,
critical information such as product origin, transportation, and
ingredients, can be logged effectively and accessed quickly by
permissioned participants across the value chain and ultimately
customers.
Today's announcement is the latest tech-forward initiative in
Majid Al Futtaim's digital
transformation of its Carrefour operations, following numerous
innovative developments including Automated Click & Collect,
Mobile Scan & Go and the launch of an online marketplace,
utilising the latest in state-of-the-art technology.
About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim
is the leading shopping mall, communities, retail and leisure
pioneer across the Middle East,
Africa and Asia.
A remarkable business success story, Majid Al Futtaim started from one man's vision
to transform the face of shopping, entertainment and leisure to
'create great moments for everyone, every day'. It has since grown
into one of the United Arab
Emirates' most respected and successful businesses spanning
17 international markets, employing more than 43,000 people, and
obtaining the highest credit rating (BBB) among privately-held
corporates in the region.
Majid Al Futtaim owns and
operates 27 shopping malls, 13 hotels and four mixed-use
communities, with further developments underway in the region. The
shopping malls portfolio includes Mall of the Emirates, Mall of
Egypt, City Centre malls, My City
Centre neighbourhood centres, and five community malls which are in
joint venture with the Government of Sharjah. The Company is the exclusive
franchisee for Carrefour in over 30 markets across the Middle East, Africa and Asia, operating a portfolio of more than 350
outlets and an online store.
Majid Al Futtaim operates more
than 500 VOX Cinemas screens as well as a portfolio of world-class
leisure and entertainment experiences across the region including
Ski Dubai, Ski Egypt, Dreamscape, Magic Planet, Little Explorers
and iFLY Dubai. The Company is
parent to the consumer finance company 'Najm', and a Fashion, Home
and Specialty retail business representing international brands
such as Abercrombie & Fitch, Hollister, AllSaints, lululemon
athletica, Crate & Barrel, Maisons du Monde, LEGO and THAT, a
Majid Al Futtaim fashion concept
store and app. In addition, Majid Al
Futtaim operates Enova, a facility and energy management
company, through a joint venture operation with Veolia, a global
leader in optimised environment resource management.
www.majidalfuttaim.com
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About IBM
For additional information please
visit: http://www.ibm.com/
IBM Media Contact
Lina El Desouky
lina.eldesouky@ae.ibm.com
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SOURCE IBM