Terra Technology > Press Releases

Terra Technology Continues Growth around the World and Accumulates Industry Awards for Superior Products

Tue, 31 Jan 2012 00:00:00 -0500

Terra Technology Ranked in Deloitte’s Technology Fast 500.

Norwalk, Conn., January 31, 2012 – Terra Technology , the most trusted provider of innovative supply chain solutions for consumer products companies, today announced significant milestones achieved in 2011. Highlights include increased adoption of Terra’s Demand Sensing and Inventory Optimization solutions by consumer packaged goods (CPG) companies in Europe, Asia and the Middle East. The company also received a number of industry accolades and ranked 121 on Deloitte’s Technology Fast 500™ as one of the 500 fastest growing technology companies in North America. In addition, Terra launched the first public version of its annual Forecasting Benchmark Study, which identifies forecasting trends based on activity from one third of the North American CPG market and includes insights into performance during promotions and new product introductions.

Terra ranked fourth overall in supply chain planning solutions and services by Consumer Goods Technology (CGT) Magazine’s annual Reader's Choice Survey, securing its sixth consecutive appearance as a top five leader. For the seventh consecutive year, the company was recognized by Food Logistics magazine in its annual Food Logistics 100, an award that honors software and technology providers that better enable grocery, foodservice distributors and manufacturers to realize their business goals.

“Over the course of 2011, consumer products companies continued to face demand volatility and an unpredictable economy. We are delighted to help some of the largest consumer products companies improve forecast accuracy, reduce inventory and increase cash flow,” said Robert F. Byrne, president and CEO of Terra Technology. “As we head into 2012 we will continue our commitment to helping customers use demand sensing as a competitive advantage across the globe.”

About Terra Technology

Terra Technology is the most trusted provider of innovative supply chain solutions for consumer products companies. Terra Technology’s solutions use better mathematics and downstream data like point of sale to improve supply chain performance, reducing forecast error up to 50 percent and inventory up to 20 percent. More accurate forecasts save money, lower inventory, improve customer service and decrease waste. Some of the world’s largest consumer goods companies use Terra Technology, including Procter & Gamble, Unilever, Kraft Foods, Kimberly-Clark, General Mills, ConAgra Foods and Campbell Soup. For more information, please visit www.terratechnology.com or call +1 203 847 4007 x127.

Kimberly-Clark and Terra Technology to Present at the CSCMP Annual Global Conference on October 4

Tue, 27 Sep 2011 00:00:00 -0400

Greg Schroeder and Robert F. Byrne Will Present “Technology Advances in Measures and Metrics, Powering Up Supply Chain Capability”.

Norwalk, Conn., September 27, 2011 – Terra Technology, the most trusted provider of innovative supply chain solutions for consumer products companies, today announced that Greg Schroeder, Kimberly-Clark's senior manager for the Kimberly-Clark supply chain center of excellence, and Robert F. Byrne, president and CEO of Terra Technology, will present “Technology Advances in Measures and Metrics, Powering Up Supply Chain Capability” at the CSCMP Global Conference on October 4 at 3:00 p.m. in Philadelphia. The presentation will focus on Kimberly-Clark’s demand-driven transformation.

Byrne will discuss history and trends in forecast accuracy and Schroeder will present a case study of Kimberly-Clark’s successful transformation from supply-focused to consumer-driven. Session attendees will learn how point-of-sale data improves the planning process, the benefits of synchronizing supplier capability with customer demand, how to achieve S&OP improvements through collaborative planning and strategies to deliver end-to-end planning. Kimberly-Clark has improved service levels, decreased inventory and increased margins through its supply chain initiatives.

To learn more about Kimberly-Clark’s demand-driven journey, register for the conference here.

About Terra Technology

Terra Technology is the most trusted provider of innovative supply chain solutions for consumer products companies. Terra Technology’s solutions use better mathematics and downstream data like point of sale to improve supply chain performance, reducing forecast error up to 50 percent and inventory up to 20 percent. More accurate forecasts save money, lower inventory, improve customer service and decrease waste. Some of the world’s largest consumer packaged goods companies use Terra Technology, including Procter & Gamble, Unilever, Kraft Foods, Kimberly-Clark, General Mills, ConAgra Foods and Campbell Soup. For more information, please visit www.terratechnology.com or call +1 203 847 4007 x127.

Terra Technology CEO to Present at the IBF Leadership Business Planning & Forecasting Forum on September 19

Tue, 13 Sep 2011 00:00:00 -0400

Robert F. Byrne Will Share Insights from the 2011 Forecast Performance Benchmark Study.

Norwalk, Conn., September 13, 2011 – Terra Technology, the most trusted provider of innovative supply chain solutions for consumer products companies, today announced that Terra’s president and CEO Robert F. Byrne will present “2011 Forecast Performance Benchmark Study Insights” at the IBF Leadership Business Planning & Forecasting Forum in Henderson, Nevada on September 19 at 4:45 p.m. PDT.

The 2011 Terra Technology Forecasting Benchmark Study is the most comprehensive forecast performance report for the consumer packaged goods (CPG) industry and encompasses nine of the world’s leading CPG companies representing one third of the North American consumer packaged goods market. The scope embodies more than $100 billion in annual sales, over 72,000 items and 300,000 item locations and is the only study where the results are truly comparable across companies.

Byrne will explore the study results, as well as share further insights gained from benchmark study participants. The results reveal that forecasting consumer product sales remains exceptionally challenging. Yet despite the soft economy in 2010, the CPG industry maintained sales volumes and kept forecast error and bias at 2009 levels. The discussion will explore findings for promotions, new product introductions, demand sensing and how forecasters can better manage demand forecasting in periods of continued economic uncertainty.

About Terra Technology

Terra Technology is the most trusted provider of innovative supply chain solutions for consumer products companies. Terra Technology’s solutions use better mathematics and downstream data like point of sale to improve supply chain performance, reducing forecast error up to 50 percent and inventory up to 20 percent. More accurate forecasts save money, lower inventory, improve customer service and decrease waste. Some of the world’s largest consumer packaged goods companies use Terra Technology, including Procter & Gamble, Unilever, Kraft Foods, Kimberly-Clark, General Mills, ConAgra Foods and Campbell Soup. For more information, please visit www.terratechnology.com or call +1 203 847 4007 x127.

Terra Technology Receives Top Honors, Including Recognition as One of Connecticut’s Fastest Growing Companies for the Fourth Consecutive Year

Tue, 16 Aug 2011 00:00:00 -0400

Company Listed in the Marcum Tech Top 40 and Repeats as a SupplyChainBrain Great Supply Chain Partner.

Norwalk, Conn., August 16, 2011 – Terra Technology, the most trusted provider of innovative supply chain solutions for consumer products companies, today announced that Terra is once again recognized on the 2011 Marcum Tech Top 40 list of the 40 fastest growing technology companies in Connecticut. Winners are selected on the basis of revenue growth over the last four years. The Connecticut Tech Council and Marcum LLP will honor the winning companies on September 27, 2011 at the Oakdale Theater in Wallingford.

Terra was also recognized as a Great Supply Chain Partner by SupplyChainBrain Magazine for the fifth time. SupplyChainBrain’s 9th annual list of 100 Great Supply Chain Partners is the result of a six-month online poll in which supply chain professionals were asked to nominate vendors and service providers whose solutions have made a significant impact on their company’s efficiency, customer service and overall supply chain performance. Nominations were received for hundreds of trading partners in every aspect of supply chain management.

“The 2011 July/August issue of SupplyChainBrain magazine includes the select list of companies who have so impressed our readers that they deserve to be singled out and to be held up as examples for others in the industry,” said Brad Berger, Publisher, SupplyChainBrain. “Our compliments to Terra Technology on making the final cut of those 100 companies who received the most qualified nominations!”

“These awards reflect our commitment to helping our customers implement demand-driven strategies to manage continued economic uncertainty and demand volatility,” said Robert F. Byrne, president and CEO of Terra Technology. “We are honored to be part of some of the world’s top supply chains.”

About Terra Technology

Terra Technology is the most trusted provider of innovative supply chain solutions for consumer products companies. Terra Technology’s solutions use better mathematics and downstream data like point of sale to improve supply chain performance, reducing forecast error up to 50 percent and inventory up to 20 percent. More accurate forecasts save money, lower inventory, improve customer service and decrease waste. Some of the world’s largest consumer packaged goods companies use Terra Technology, including Procter & Gamble, Unilever, Kraft Foods, Kimberly-Clark, General Mills, ConAgra Foods and Campbell Soup. For more information, please visit www.terratechnology.com or call +1 203 847 4007 x127.

Terra Technology Benchmark Study Reveals Forecasting Results of Nine of the World’s Leading Consumer Packaged Goods Companies

Tue, 19 Jul 2011 00:00:00 -0400

Results Show Demand Sensing Reduces Average Weekly Forecasting Error by 40 Percent.

Norwalk, Conn., July 19, 2011 – Terra Technology, the most-trusted provider of innovative supply chain solutions for consumer products companies, today announced the release of the Terra Technology 2011 Forecasting Benchmark Study. The report identifies forecasting trends based on activity from one third of the North American Consumer Packaged Goods (CPG) market and includes insights about performance during promotions and new product introductions. The study, which spans the 2009-2010 period, encompasses more than 7 billion physical cases that represent more than $200 billion in sales from nine leading multinational consumer products companies.

Results show that weekly forecast error for Demand Planning systems remains high in CPG, at almost 50 percent, with bias remaining positive at 5 percent. Results also show that Demand Sensing provides a major improvement in forecast accuracy across all companies, reducing weekly error by 40 percent. Improving forecast accuracy is key to an efficient and cost-effective supply chain since demand uncertainty is the number one driver of safety stock.

“We believe this study is the most comprehensive examination of forecasting performance for the CPG industry,” said Robert F. Byrne, President and CEO, Terra Technology. “It is unique because it provides a truly comparable benchmark for manufacturers to evaluate demand planning performance against their peers. It also shows the potential of Demand Sensing to improve forecast accuracy, supported by real-life performance figures from leading manufacturers whose supply chains are among the most respected in the industry.”

Findings and insights from the analysis include:

Demand Planning weekly forecast error remains almost 50 percent in the CPG industry, despite the effort and expense invested in implementing Demand Planning systems. The 5 percent bias may be indicative of the optimistic nature of Marketing.
Promotional volume jumped more than 75 percent in 2010 as companies sought to drive sales by offering consumers additional value. Contrary to conventional wisdom about promotions, individual items are forecast as accurately when promoted as they are when not promoted. However, bias is more than five times higher during promotional periods.
High expectations and the absence of prior sales history make new product introductions particularly hard to forecast. In 2010, new items accounted for 13 percent of the volume and experienced weekly Demand Planning error rates of 65 percent over their first year compared to 46 percent for existing products.

Demand Sensing provides a consistent step change in forecast accuracy across all aspects of the business, including promotions, new products, fast-moving and slow-moving items. The 40 percent reduction in overall error provided by Demand Sensing confirms the benefits of an automated mathematical approach which harnesses real-time demand signals throughout the supply chain to improve forecast accuracy.

The Terra Technology Forecasting Benchmark Study differs from other benchmarks because all raw data is taken directly from the participants’ Demand Planning systems, then consistent metrics are used. The 2011 dataset includes 300,000 item/warehouse combinations with 55,000 base codes and 72,000 items across 350 locations.

Read and download the Terra Technology Forecasting Benchmark Study.

About Terra Technology

Terra Technology is the most trusted provider of innovative supply chain solutions for consumer products companies. Terra Technology’s solutions use better mathematics and downstream data like point of sale to improve supply chain performance, reducing forecast error up to 50 percent and inventory up to 20 percent. More accurate forecasts save money, lower inventory, improve customer service and decrease waste. Some of the world’s largest consumer packaged goods companies use Terra Technology, including Procter & Gamble, Unilever, Kraft Foods, Kimberly-Clark, General Mills, ConAgra Foods and Campbell Soup. For more information, please visit www.terratechnology.com or call +1 203 847 4007 x127.