Procter & Gamble Signs Global License for Terra Technology's Real-Time Forecasting
Terra Technology (www.terratechnology.com), the leading provider
of Real-Time Forecasting and Inventory solutions, today announced that
The Procter & Gamble Company (NYSE:PG), manufacturer of one of the
strongest portfolios of consumer products in the world, has selected
Terra's Real-Time Forecasting (RTF) solution to improve customer
value, increase supply chain stability and improve inventory
management. Procter & Gamble is live on RTF in Europe and plans to
roll the software out globally over the next two years. P&G has been
able to reduce short-term forecast error by over 30 percent and
anticipates more than a 10 percent reduction in inventory.
Dick Clark, associate director, demand planning for Procter &
Gamble, said, "Procter & Gamble selected Terra Technology's Real-Time
Forecasting as part of our Supply Visibility Program to improve
short-term forecast accuracy, cutting inventory and increasing cash
flow. RTF adds a new level of demand visibility in the near term,
helping us predict changes in demand efficiently and cost-effectively.
This will enable cutting inventory by more than 10 percent and
significantly reducing costs in a number of areas."
Real-Time Forecasting monitors daily demand signals and uses
pattern recognition to generate a significantly more accurate
forecast. Because the forecast responds to what is happening right now
rather than just historical trends, forecast error is typically
reduced by 50 percent. This decreases inventory by as much as 20
percent without compromising service levels.
Robert F. Byrne, president and CEO of Terra Technology, said,
"Procter & Gamble is a global supply chain leader who is adept at
leveraging technological advances to its benefit. By implementing
Real-Time Forecasting, P&G is not only improving its customers'
experience but also significantly increasing the company's cash flow
at the same time."
About Procter & Gamble
Three billion times a day, P&G brands touch the lives of people
around the world. The company has one of the strongest portfolios of
trusted, quality, leadership brands, including Pampers(R), Tide(R),
Ariel(R), Always(R), Whisper(R), Pantene(R), Mach3(R), Bounty(R),
Dawn(R), Pringles(R), Folgers(R), Charmin(R), Downy(R), Lenor(R),
Iams(R), Crest(R), Oral-B(R), Actonel(R), Duracell(R), Olay(R), Head &
Shoulders(R), Wella, Gillette(R), and Braun. The P&G community
consists of almost 140,000 employees working in over 80 countries
worldwide. Please visit http://www.pg.com for the latest news and
in-depth information about P&G and its brands.
About Terra Technology
Terra Technology is the leading provider of Real-Time Forecasting
and Inventory solutions for consumer goods companies. Terra's pattern
recognition technology works with traditional demand planning systems
to monitor daily demand signals and reduce near-term forecast error by
up to 50 percent. More accurate forecasts and inventory targets
improve customer service, lower inventory, decrease unplanned
changeovers and reduce costs. Headquartered in Norwalk, CT, Terra's
customers include Campbell Soup, Georgia-Pacific, McCain Foods,
Procter & Gamble and Ventura Foods. For more information, please visit
www.terratechnology.com or call 203-847-4007 x108.