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Agrify Plans For Up To $7M In Cost Savings In 2023, CFO Resigns

Benzinga Real-time News · Jan 23, 2023 08:17

AGFY -1.93%

Agrify Corporation(NASDAQ:AGFY) is actively taking steps to better align its resources and growth plan with the current operating environment,measures that the company believescould put it in a positionto be cash flow positive by the end of 2023.

Agrify hasreduced its manufacturing and production coststhrough more effective supplier agreements, volume discounts driven by increased purchasing power, and less of a reliance on contract manufacturers. Additionally, the company implemented a newenterprise resource planning system toward the end of 2022 and now has better visibility into its supply chain and inventory needs, allowing those needs to be...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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