Terra Technology CEO Invited to Speak at Top-Ranked Carnegie Mellon UniversityRobert F. Byrne will discuss real-world application of advanced mathematics to enhance supply chain performanceNorwalk, CT, October 14, 2005 - Terra Technology ( www.terratechnology.com ), the leading provider of Real-Time Forecasting (RTF) solutions, today announced that Terra's Chief Executive Officer, Robert F. Byrne, has been invited to speak at Carnegie Mellon University's Tepper School of Business on November 21. The Tepper School of Business, ranked fifth in the country in supply chain management, invited Mr. Byrne to talk about applying advanced mathematics to improve supply chain performance. "Terra Technology's Real-Time Forecasting demonstrates the value of understanding and utilizing advanced mathematics in the business world," said Ilker Baybars, Deputy Dean of the Tepper School of Business. "The forecasting model Terra Technology developed uses pattern recognition technology and advanced mathematics to solve the single greatest manufacturing pain point for consumer goods manufacturers, which is accurately forecasting demand for their products. The future executives we educate at Tepper will benefit from understanding that the mathematical tools we teach them have significant real world impact." Mr. Byrne developed an advanced mathematical model which cuts forecast error in half, enabling significant improvements in demand planning for Terra's clients. When accuracy improves, excess inventory decreases and companies save money. Campbell Soup, Terra's first client, has saved over $10 million in inventory since adopting the software one year ago. "I spent 20 years in supply chain and I was shocked by the high level of error that manufacturers were forced to live with," said Mr. Byrne. "I knew that we could solve the high error rate by applying the right math to the problem, and RTF is the result of that math. The real lesson for our business leaders of tomorrow is to look creatively for better ways to solve problems, and not just accept the status quo if the performance is poor."About the Tepper School of BusinessFounded in 1949, the Tepper School of Business at Carnegie Mellon is a pioneer in the field of management science and analytical decision making. The school's notable distinctions include a unique contribution to the intellectual community including six Nobel prizes in economics and a consistent presence in the top tier of national and international business school rankings including being named the No. 2 business school in the U.S. by The Wall Street Journal. More information on the school and its programs can be found at business.tepper.cmu.edu . About Terra TechnologyTerra 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. |
