Software Enables Smucker to Improve Short Term Forecast Accuracy
NORWALK, Conn.--Terra Technology (www.terratechnology.com), the leading provider of demand sensing and inventory optimization solutions for consumer products companies, today announced that The J.M. Smucker Company (NYSE:SJM), the leading marketer and manufacturer of fruit spreads, peanut butter, shortening and oils, ice cream toppings and health and natural foods beverages in North America, has implemented Terra’s demand sensing software companywide to improve short term weekly forecast accuracy.
Andy Platt, chief information officer for The J. M. Smucker Company, said, “Smucker selected Terra Technology’s demand sensing solution because it met our needs within the supply chain area to improve forecast accuracy.”
Robert F. Byrne, president and CEO of Terra Technology, said, “Terra is able to solve inventory challenges because of our integrated demand sensing and inventory optimization solutions. To maximize the benefits of inventory optimization, manufacturers must first improve forecast accuracy.”
Terra’s Demand Sensing software analyzes daily demand signals, applying advanced mathematics to downstream data and decreasing forecast error by up to 50 percent. More accurate forecasts enable better planning, lower inventory and manufacturing costs, and improved service levels.
About The J.M. Smucker Company
The J. M. Smucker Company is the leading marketer and manufacturer of fruit spreads, peanut butter, shortening and oils, ice cream toppings and health and natural foods beverages in North America. Its family of brands includes Smucker's®, Jif®, Crisco®, Pillsbury®, R.W. Knudsen Family®, Hungry Jack®, White Lily® and Martha White® in the United States, along with Robin Hood® and Bick's® in Canada. The Company remains rooted in the Basic Beliefs of Quality, People, Ethics, Growth and Independence established by its founder and namesake more than a century ago. Since 1998, the Company has appeared on FORTUNE Magazine's annual listing of the 100 Best Companies to Work For in the United States, ranking number one in 2004. For more information about the company, visit www.smuckers.com.
About Terra Technology
Terra Technology is the leading provider of demand sensing and inventory optimization software for consumer goods companies. Terra’s solutions work with traditional planning systems to monitor daily demand signals and reduce forecast error by up to 50 percent and inventory up to 20 percent. More accurate forecasts and inventory targets improve customer service, lower inventory, decrease unplanned changeovers and reduce costs. Based in Norwalk, CT, Terra’s customers include Campbell Soup, Procter & Gamble, The J.M. Smucker Company and Ventura Foods. For more information, please visit www.terratechnology.com or call 203-847-4007 x108.
