Tesco has launched a new online platform that will allow its suppliers to sell or donate surplus stock or products, i.e. crops, by-products, ingredients or packaging, to other suppliers.
The aim of Tesco Exchange is to match suppliers who have too much of a product with other Tesco suppliers that need said product, thereby cutting production costs and reducing waste.
“Excess stock or waste for one supplier could be a valuable commodity to another,” Sarah Bradbury, Tesco quality director said.
“By linking different farmers, producers and manufacturers together, our suppliers can find new ways to trim their bills, reduce waste, and keep delivering great value for our customers.”
On the platform, suppliers can advertise their surplus stock for sale, post requests for things they need and agree sales between each other.
They can also set alerts for when items they need are posted.
One of the first listings was made by food manufacturer, G’s Group, which supplies pickled beetroot to Tesco. The manufacturing process leaves them with tonnes of beetroot peelings that could be used by a livestock farm as cattle feed.
Commenting on the new platofrm, Dr. Julian Parfitt, technical director at Anthesis, the sustainability activator and developer of Tesco Exchange said:
“Tesco Exchange is a great example of an initiative that the food industry needs to embrace and support in order to directly address commitments on food waste, the circular economy, and move towards more sustainable and resilient supply chains.”
