CT-TERRA-TECHNOLOGY
27.10.2015 13:01:43 CET | Business Wire | Press release
Land O’Lakes, Inc. , one of America's premier agribusiness and food companies, has purchased Terra Technology’s Multi-Enterprise Demand Sensing software-as-a-service solution. Land O’Lakes chose Terra after successful pilots demonstrated significant gains in forecast accuracy from modelling customer order patterns and incorporating retailer data into the forecast.
“Terra Multi-Enterprise Demand Sensing delivered the step-change in planning performance Land O’Lakes was looking for,” said Yone Dewberry, Vice President, Supply Chain Planning and Logistics, Land O’Lakes. “Pilot results showed we could use available data across the supply chain, including retailer point of sale, to more efficiently drive our supply chain and reduce forecast error dramatically.”
"We are very excited to welcome Land O’Lakes as a customer,” said Robert F. Byrne, CEO of Terra Technology. “Their use of retailer data to sense demand underscores Land O’Lakes’ commitment of adopting cutting-edge practices to power its business and achieve outcomes that were previously not possible.”
Multi-Enterprise Demand Sensing improves planning performance by synchronizing supply chain decisions with what is happening on the store shelf. This is especially important in volatile markets and for new product introductions where history is a poor indicator of future performance or simply not available. Aligning daily demand predictions with market realities allows manufacturers to better serve customers, reduce inventory and free working capital to invest in new growth opportunities.
About Land O’Lakes
Land O'Lakes, Inc., one of America's premier agribusiness and food companies, is a member-owned cooperative with industry-leading operations that span the spectrum from agricultural production to consumer foods. With 2014 annual sales of $15 billion, Land O'Lakes is one of the nation's largest cooperatives, ranking 203 on the Fortune 500. Building on a legacy of more than 94 years of operation, Land O'Lakes today operates some of the most respected brands in agribusiness and food production including LAND O LAKES® Dairy Foods, Purina Animal Nutrition and WinField Solutions. The company does business in all 50 states and more than 60 countries. Land O'Lakes, Inc. corporate headquarters are located in Arden Hills, Minn.
About Terra Technology
Terra Technology helps companies outperform in volatile markets through automated and mathematically-sophisticated supply chain software solutions that drive profitable growth, raise shareholder value and improve operational efficiency.
Terra senses demand, optimizes inventory and predicts transportation and warehousing requirements in more than 160 countries for some of the world’s largest companies including Shell, Procter & Gamble, Unilever, Mondelēz International, Kimberly-Clark, Kraft Heinz, General Mills, ConAgra Foods, AkzoNobel, Kellogg, Reckitt Benckiser and Campbell Soup. Terra invented demand sensing in 2002, which was the first solution to systematically use customer data to enhance service, cut inventory and reduce waste. Information on how Terra enables a truly integrated supply chain can be found at terratechnology.com .
View source version on businesswire.com: http://www.businesswire.com/news/home/20151027005545/en/
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