Shelf Engine Revs Up for More Growth With New Advisory Board Member
Shelf Engine, which uses artificial intelligence and statistic models to forecast and order perishables for grocers to improve their stock and reduce food waste, has brought on industry veteran Michael Schall to help guide its future as a member of its advisory board.
A longtime senior leader in the industry, Schall has worked with a variety of brands and retailers over the past four decades, including Whole Foods Market, Unilever and Wise Foods, and understands supply chain challenges and opportunities for fresh foods. Currently, he is co-leader of the food and beverage practice at Los Angeles-based FocalPoint Partners, an investment firm that provides advisory services to high-growth companies.
"Shelf Engine's ordering technology addresses food waste in a way that I have never encountered in my 40 years of working in retail and CPG," Schall declared. "What most drew me to this company and its management team is the fact that we fully guarantee that our retail partners will have 0% waste; many platforms are out there charging plush licensing and software fees, but Shelf Engine guarantees results by absorbing 100% of food waste, and that's the type of company I am excited to partner with to help retailers increase margin, reduce in-store and commissary labor, make more sales, and solve a problem that dramatically helps the environment."
Stefan Kalb, CEO of the Seattle-based Shelf Engine, said that Schall is a welcome addition at a key time. "Mike understands firsthand the challenge of balancing out-of-stocks with food waste and in-store labor in order to maximize both sales volume and profitability. We are delighted to have Mike on our advisory board and feel fortunate to glean the insights and experience from such a stellar leader in our industry to help fuel Shelf Engine's incredible growth trajectory,” he remarked.
Schall’s appointment reflects the company’s rapid expansion. Shelf Engine reports that its revenue growth has climbed more than 540% over the last year as it partners with retailers including The Kroger Co., Target and Whole Foods Market. As the company builds its advisory board and teams up with celebrity supporters such as Ellen DeGeneres, Portia de Rossi, Shaun White and Shawn Mendes, it is also scaling up internal talent, going from 23 to 200 employees.
