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The Terra implementations resulted in a $10m savings in inventory in the first year. Safety stock has decreased 20 percent across the food service business and order fill improved 5 percent. Unplanned changeovers due to demand declined significantly, increasing manufacturing stability.
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Terra has opened an office in Madrid, Spain to support growth in Europe and Asia. Paul Conyngham, general manager, will head the office which will include sales, consulting and marketing. The company selected Madrid because of its proximity to many consumer products companies, ease of travel throughout Europe and its pleasant climate.
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This newest addition to Terra's demand sensing product portfolio decreases forecast error by an additional 20 percent or more by incorporating demand signals from throughout the supply chain including Point-of-Sale (POS) data, channel inventory and retailer forecasts. Multi-Enterprise Demand Sensing improves forecast accuracy by applying better mathematics to combine multiple streams of daily channel data. When consumer products companies implement MDS, forecast accuracy increases, customer service improves, planners are more productive and sales revenue and profitability increase.
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The Customer Experience list identifies companies that received special accolades from readers for excellence in customer satisfaction. "The forecast accuracy improvement delivered by Demand Sensing enabled significant reductions in safety stock while maintaining service levels. Demand Sensing is an important part of P&G’s Consumer-Driven Supply Network, helping us win at the first moment of truth," said Mark Kremblewski, global business expert, demand planning, P&G.
"Once again Terra Technology has been ranked No. 1 in Customer Experience by Consumer Goods Technology readers, clearly indicating consistent and successful delivery of results for its customers."
Lori Castle, Publisher, CGT Magazine
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Andy Platt, chief information officer for The J. M. Smucker Company, said, "Smucker selected Terra Technology’s demand sensing solution because it met our needs within the supply chain area to improve forecast accuracy." Terra’s Demand Sensing software analyzes daily demand signals, applying advanced mathematics to downstream data and decreasing forecast error by up to 50 percent. More accurate forecasts enable better planning, lower inventory and manufacturing costs, and improved service levels.
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