Tesco Exchange provides the platform for our suppliers to match their excess stock or waste with other suppliers’ resource demands, ultimately saving cost and reducing waste in our supply chain. Building upon the success of the Livestock Marketplace on the Tesco Supplier Network with our trusted partner Anthesis, Tesco Exchange connects suppliers and unlocks opportunities for us to work towards our shared targets of net zero by 2050, and halving global food waste by 2025.”Andrew McGregor – Sustainability Programme Manager, Tesco
Anthesis has been a trusted advisor to Tesco for over eight years, supporting the company to reach its ambitious food waste and net zero targets. This has included developing and managing its Tesco Supplier Network (TSN) platform.
A recent report by Tesco and WWF exploring on-farm food loss found that more than three million tonnes of food waste occurs before the product even makes it to the store. In November 2022, Anthesis supported Tesco to launch the Tesco Exchange to support over 3,500 of its suppliers to cut production costs and reduce waste by selling or donating surplus stock or products to other suppliers who can make use of them, hosted on the TSN.
With aim of creating a circular economy by keeping sources of production within its supply chain, the Tesco Exchange turns one supplier’s waste into something that can be reused by another supplier. Anthesis outlined detailed specifications for the waste marketplace and developed the Tesco Exchange platform.
Anthesis supports onboarding suppliers and managing its listing on Tesco Exchange. Alongside posting items for offer, suppliers can also post requests for items which they require and set alerts for when items they need are posted. Anthesis will continue to support Tesco by monitoring the platform.
Anthesis will produce an annual report on the volume and types of produce exchanged through the project, highlighting associated waste reductions and the most common waste products to inform future supply chain developments.
Tesco Exchange will support Tesco’s suppliers not only reduce the amount of waste generated but also cut production costs. It demonstrates how initiative and collaboration are effective in addressing the challenges of food waste and the surplus amount which the food industry creates.
In addition, The Tesco Exchange has also led to improved communication between Tesco and its suppliers.
This project supports Tesco’s long-term Net Zero goal and its near-term aim of halving food waste across its supply chain by 2025.
Dr Julian Parfitt, former Technical Director at Anthesis, commented, “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.”