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ConAgra Foods Signs up for Terra Technology's Multi-Enterprise Demand Sensing
Food giant looking to solution to help shape demand to deliver superior customer service and help reduce forecast error up to 40 percent
Norwalk, CT — October 13, 2009 — ConAgra Foods has tapped a demand management solution from Terra Technology as part of an initiative to reduce inventory and improve customer service, the solution provider has announced.
One of the top U.S. food companies, ConAgra has signed a North American license to use Terra's Multi-Enterprise Demand Sensing (MDS) solution, which reconciles daily demand signals from all participants in the supply chain.
MDS uses pattern recognition mathematics to decipher which information is predictive and in a recent pilot, the software reduced forecast error by 40 percent for all retail items.
"ConAgra Foods selected Terra Technology's Multi-Enterprise Demand Sensing solution to improve short-term forecast accuracy, reduce inventory and improve cash flow," said Steve Vielmetti, vice president for demand planning and supply chain optimization at ConAgra. "MDS will help enable us to more capably predict changes in consumer behavior, helping us reduce safety stock by up to 15 percent and reduce costs in our supply chain."
"ConAgra Foods is a leading food company with a best-in-class supply chain," noted Robert F. Byrne, president and CEO of Terra Technology. "MDS will enable ConAgra Foods to use POS data to respond quickly and efficiently to shifts in consumer preferences, improving cash flow and reducing costs for the company."
Other companies using Terra's technology include Procter & Gamble, Unilever, Kraft Foods and Campbell Soup.
One of the top U.S. food companies, ConAgra has signed a North American license to use Terra's Multi-Enterprise Demand Sensing (MDS) solution, which reconciles daily demand signals from all participants in the supply chain.
MDS uses pattern recognition mathematics to decipher which information is predictive and in a recent pilot, the software reduced forecast error by 40 percent for all retail items.
"ConAgra Foods selected Terra Technology's Multi-Enterprise Demand Sensing solution to improve short-term forecast accuracy, reduce inventory and improve cash flow," said Steve Vielmetti, vice president for demand planning and supply chain optimization at ConAgra. "MDS will help enable us to more capably predict changes in consumer behavior, helping us reduce safety stock by up to 15 percent and reduce costs in our supply chain."
"ConAgra Foods is a leading food company with a best-in-class supply chain," noted Robert F. Byrne, president and CEO of Terra Technology. "MDS will enable ConAgra Foods to use POS data to respond quickly and efficiently to shifts in consumer preferences, improving cash flow and reducing costs for the company."
Other companies using Terra's technology include Procter & Gamble, Unilever, Kraft Foods and Campbell Soup.
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