Version 3.0 promises improved forecast accuracy for holidays, promotions and new product introductions
Norwalk, CT — June 9, 2005 — Forecasting specialist Terra Technology this week debuted the latest version of its Real-Time Forecasting (RTF) solution, saying that version 3.0 improves forecast accuracy over periods of time containing holidays, promotions and new items, and provides increased accuracy during periods of greater demand uncertainty.
Key enhancements in RTF version 3.0, according to Terra, include more accurate forecasting over irregular periods such as holidays and maintenance shutdowns; improved handling of product promotions, taking into account the differences in the models required for different increases in demand; and flexibility in handling new items and items without orders, with the solution recognizing inconsistencies between orders and item forecasts and adjusting accordingly.
The new version of the solution also offers flexibility in adding new customers, new product rollouts and distribution center changes, as well as role-based user configurations for easy rollout to plants and remote users. Users may be assigned different access rights depending on their business responsibilities.
Finally, version 3.0 provides for standard integration with Manugistics, enabling implementation in less than 90 days for Manugistics users, according to Terra.
Terra customer Ventura Foods upgraded to RTF version 3.0 in April 2005. Wayne Olson, director of logistics at Ventura, said: "Our business is becoming more diverse and dynamic and the old rules for forecasting don't hold. RTF version 3.0 provides a more accurate forecast in a more difficult and unpredictable environment."
Additional Articles of Interest
— Working to improve demand visibility at your company but stumped on how to improve demand accuracy? For some tips to get you started, read "Overcoming Forecast Error with Real-time Forecasting," an In Depth article on SDCExec.com.
— For more information on demand planning and forecasting, see the analyst articles in the April/May 2004 and February/March 2005 issues of Supply & Demand Chain Executive.
Norwalk, CT — June 9, 2005 — Forecasting specialist Terra Technology this week debuted the latest version of its Real-Time Forecasting (RTF) solution, saying that version 3.0 improves forecast accuracy over periods of time containing holidays, promotions and new items, and provides increased accuracy during periods of greater demand uncertainty.
Key enhancements in RTF version 3.0, according to Terra, include more accurate forecasting over irregular periods such as holidays and maintenance shutdowns; improved handling of product promotions, taking into account the differences in the models required for different increases in demand; and flexibility in handling new items and items without orders, with the solution recognizing inconsistencies between orders and item forecasts and adjusting accordingly.
The new version of the solution also offers flexibility in adding new customers, new product rollouts and distribution center changes, as well as role-based user configurations for easy rollout to plants and remote users. Users may be assigned different access rights depending on their business responsibilities.
Finally, version 3.0 provides for standard integration with Manugistics, enabling implementation in less than 90 days for Manugistics users, according to Terra.
Terra customer Ventura Foods upgraded to RTF version 3.0 in April 2005. Wayne Olson, director of logistics at Ventura, said: "Our business is becoming more diverse and dynamic and the old rules for forecasting don't hold. RTF version 3.0 provides a more accurate forecast in a more difficult and unpredictable environment."
Additional Articles of Interest
— Working to improve demand visibility at your company but stumped on how to improve demand accuracy? For some tips to get you started, read "Overcoming Forecast Error with Real-time Forecasting," an In Depth article on SDCExec.com.
— For more information on demand planning and forecasting, see the analyst articles in the April/May 2004 and February/March 2005 issues of Supply & Demand Chain Executive.
- More articles about Terra Technology.
