San Francisco-based DecisionNext has appointed Michael Farrand as global head of food. In this role, he will lead DecisionNext’s efforts to partner with leading food companies to better utilize data in purchasing, sales, operations and risk management.
Farrand brings 30 years of food industry experience to DecisionNext, having held a variety of roles in corporate development, sales leadership, marketing, business development and strategy roles at Hormel Foods Corp., most recently as director of new channel development. He has recently served as an advisor to DecisionNext helping shape its approach to the meat packers, processors, retailers and the restaurant industry.
“Having had the pleasure of working with the talented DecisionNext team over the past few months it became clear to me that our values and goals aligned well, and that there was real value in creating increased rigor around the food space, especially in our current business climate. The timing is perfect,” Farrand said.
“Michael is going to be tremendously important in DecisionNext’s mission to create massive value for our customers by combining DecisionNext’s machine learning engine with the unique market insights of our customers in the food space,” said Arden Arnold, president of DecisionNext. “He has a unique understanding of the key levers of profitability across the food value chain and where improved risk management and predictive analytics can drive value.”
Powered by proprietary machine-learning algorithms, DecisionNext allows market experts to bring together the best of human and machine intelligence to improve market visibility and forecast accuracy through transparent, interactive software. By having the ability to not just forecast markets but simulate market outcomes, decision-makers can more effectively evaluate options in high value, high frequency decisions across sourcing, operations and sales.
