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9 of the 10 Largest CPG Companies Explore Real-Time ForecastingCompanies Look for New Opportunities to Save Millions of DollarsRIDGEFIELD, CT. – August 28, 2003 – Terra Technology, the leading provider of Real–Time Forecasting software, announced today that 9 of the 10 largest consumer product goods (CPG) companies are actively exploring the benefits of Real–Time Forecasting. "Real–Time Forecasting is attracting tremendous attention from the industry, including interest from 9 of the 10 largest CPG companies in the world," said Robert Byrne, President of Terra Technology. "With today's economic uncertainly, Real–Time Forecasting enables companies to save millions of dollars, yet it is easy to implement and complementary to existing demand planning solutions.– Real–Time Forecasting enables companies to reduce their forecast error by more than 50% resulting in millions of dollars in savings. In addition, Real–Time Forecasting lowers statistical safety stock by 60%, creates more accurate forecasts for new products, raises service levels without increasing costs and establishes lower transportation, warehousing and storage costs. "Real–Time Forecasting means CPG companies no longer have to accept high forecasting error as being a reality for their supply chains," said Byrne. "Real–Time Forecasting changes world class forecasting error from 35% to 15%, a decrease that can save companies millions of dollars," adds Byrne. About Terra Technology Terra Technology is the leading provider of demand sensing and inventory optimization software for consumer goods companies. Terra's solutions incorporate demand signals from throughout the supply chain including retailer data, reducing forecast error by up to 50 percent and inventory up to 20 percent. More accurate forecasts and inventory targets improve customer service, lower inventory, decrease unplanned changeovers and reduce costs. Terra's customers include Campbell Soup, Procter & Gamble and Ventura Foods. For more information, please visit www.terratechnology.com or call 203-847-4007 x111.Contact: |
