Implementing Terra's real-time forecasting solution to stabilize manufacturing schedules across 12 plants
Ridgefield, CT March 4, 2004 Ventura Foods has tapped Terra Technology to provide a real-time forecasting solution in a bid to improve the accuracy of its demand plans on a daily basis.
Founded in 1919, Ventura specializes in edible oils, shortenings, dressings, margarine, sauces and flavor bases. The company has 12 plants located around the country.
After successfully piloting Terra's solution, Ventura began the implementation process and is anticipating going live by June.
Ventura will use Terra's Real-Time Forecasting solution to create daily forecasts to help manage volatile demand. The company will use Terra's forecasting techniques to try to stabilize manufacturing schedules, improve equipment utilization and synchronize the movement of product across Ventura's plants and direct to customers.
The company is counting on the implementation to help it improve customer service levels, optimize procurement and increase inventory visibility throughout the supply chain.
"Terra's Real-Time Forecasting solution holds significant promise for Ventura Foods since our planning and deployment plans are very much aligned with our customer's need for short lead times and fast response," said Wayne Olson, Ventura's director of logistics. "With Real-Time Forecasting, we will be able to improve inventory visibility throughout the supply chain and increase our customer service levels at the same time."
Robert Byrne, president of Terra Technology, noted that Ventura is challenged with balancing volatile customer demand with daily fluctuations in edible oil prices. "We are pleased to provide a solution that will help them more effectively manage this process, while delivering better results to their customers and shareholders alike," Byrne concluded.