Demand forecasting, planning and inventory optimization system operational within three weeks
Belmont, MA — March 2, 2004 — Monsanto Co. announced it has selected Smart Software's SmartForecasts Enterprise demand forecasting, planning and inventory optimization system to improve inventory and production management in its approximately $2 billion Seed and Genomics business segment.
SmartForecasts is integrated with Monsanto's Oracle database, which stores demand data and forecast results and shares information with several of the company's planning systems. Monsanto said the purchase is part of its Six Sigma effort to improve core company operations, such as improving forecasting accuracy and optimizing safety stock levels.
Additionally, Monsanto said it would use SmartForecasts to develop long-range production plans and forecast crop yields, as well as produce in-season sales and production forecasts.
According to Jim Most, Global Seed Supply Process improvement manager, Monsanto was looking for a forecasting system that was easy to use, would gain quick acceptance by selected users, and eliminate the overhead expenses normally associated with enterprise resource planning (ERP) forecasting modules and other demand planning systems.
"To meet our goals, we need to have acceptance of statistical forecasting as a key part of our planning process," said Most. "It is critical that we are able to cut through the noise, observe demand patterns and understand our product mix better. Our old system didn't have the power to do that."
Headquartered in St. Louis, Missouri, Monsanto is a $4.5 billion Fortune 500 provider of agricultural products and solutions. The company's Seed and Genomics segment produces leading seed brands, including DEKALB and Asgrow, and develops biotechnology traits that integrate insect control and weed control into the seed itself.