Farmer Bros. Co. (NASDAQ:FARM) Q3 2024 Earnings Call Transcript

Eric Des Lauriers: All right. That’s helpful. And then on the technology upgrades, nice to see these handheld device upgrades and the expected improvement there, in inventory management and customer service. Can you give us a high level update on what other technology upgrades you’re focusing on? I know last quarter you mentioned the, or you touched on the CRM upgrade. Maybe just an update there and on any other technology upgrades you’re working on? Thanks.

John Moore: Sure. We refer to that sort of suite of improvements internally as Project Symphony, because essentially what we’re doing, we’re seeing RIT capability as really a partner in the business, not sort of as an isolated or siloed activity. And as such, I think it’s touching every piece. So, we’re implementing new software programming around everything from risk mitigation and sourcing when it comes to commodities driven purchasing. We’re utilizing it when it comes to the CRM activities, and we have rolled that out. What we’re referring to as Phase 1 is now complete. We’re into Phase 2 of the rollout with the CRM. We’re utilizing that when it comes to street level operations and the handheld technologies, both in terms of hardware, but also software.

So improvements there to be expected. And let’s not forget, we had significant upgrades to the ERP over the last six months. So a great deal of work happening on that side. So again, we’re seeing that the IT integration is a key part of what we’re doing driving the business forward.

Eric Des Lauriers: Very helpful. I appreciate the color. Thanks for taking my questions.

John Moore: Sure. Thanks, Eric.

Operator: This concludes our question and answer session. The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.