Jeon Hwa-seong's Startup Morning Coffee: Redefining Needs

In the YouTube program 'Startup Morning Coffee,' hosted by CEO Jeon Hwa-sung, Neads, an innovative startup aiming to solve chronic inefficiencies in the restaurant industry, was introduced and received significant attention. Neads, currently participating in CNTTech's Seongnam Startup Rising support program, aims to overcome the limitations of burdensome purchase ordering systems that rely on manual processing of dine-in and delivery sales aggregation, ingredient inventory tracking, and phone calls or manual ERP registration in the restaurant industry. Neads' service, 'Miri,' aims to dramatically reduce store owners' workload and optimize food ingredient operating costs through a big data and AI-based automation solution. The core of 'Miri' lies in its recipe linkage and real-time inventory management system. It meticulously manages ingredient receipt quantities and expiration dates as data, and links recipes for each menu item to the system, automatically deducting the corresponding ingredient stock whenever a menu item is sold. This allows restaurant owners to accurately grasp real-time inventory status, which was previously difficult to track visually, and further utilize AI-based precise demand forecasting and automatic ordering functions. Such automation in food ingredient management significantly contributes to labor cost reduction and minimization of inventory loss (loss rate). Neads' business model generates revenue by charging a subscription fee for its SaaS on a per-store basis and through distribution commissions generated during the automatic food ingredient ordering process. CEO Jeon Hwa-sung emphasized that Neads' 'Miri' service will establish itself as a core infrastructure for digital transformation (DX) in the restaurant industry by innovating food ingredient management and ordering tasks, which are among the biggest inefficiencies in restaurant operations.