Sonae Invests More Than €110mn In Innovation In 2016
Portuguese multinational Sonae invested a total of €110 million in innovation and R&D during 2016, involving more than 300 partners in 25 countries.
The company, which is a leading player in the retail sector in Portugal, generated and implemented 652 innovative projects that also helped strengthen its presence globally.
Total investments in innovation have surpassed €600 million over the last ten years.
According to a preliminary assessment, the innovation initiatives involved more than 8,000 employees.
The innovations that were developed and implemented enabled Sonae to increase its sales, reduce costs and save time spent in several processes, contributing positively to the results achieved, the company said.
Sonae published the "Retail Book of Innovation 2016" that features a selection of 71 innovations developed and implemented by Sonae's retail brands. These include the Omni-channel Supply Engine & Supply Stores, a new algorithm to support order management taking into account different variables; PAM - Product Allocation Management, a new algorithm for the commercial area of SportZone; Touchless, an automatic invoice approval process; and the new kitchen robot Yammi 2.
Sonae's retail business currently has more than 300 innovation partners worldwide – compared to more than 150 partners in 2015 - involving institutions from 25 countries on four continents.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine