NORWALK, Conn.--(BUSINESS WIRE)--AkzoNobel, the largest global paints and coatings company and a major producer of specialty chemicals, has purchased Terra Technology’s Demand Sensing and Multi-Enterprise Inventory Optimization solutions to improve demand predictability and reduce inventory across Europe and Africa.
“AkzoNobel chose Demand Sensing and Multi-Enterprise Inventory Optimization after a successful pilot in Europe demonstrated a 29 percent reduction in forecast error and the opportunity to reduce several days of inventory,” said Alain Crottaz, EMEA Planning Director, AkzoNobel. “Better forecast accuracy and an optimized safety stock engine provided by Multi-Enterprise Inventory Optimization will help us achieve our key goals of lowering stock while improving customer service.”
The chemical industry is capital intensive, so managing working capital and cash flow is particularly important, especially during times of economic volatility. Chemical companies are increasingly interested in becoming demand driven to improve supply chain efficiency and gain a competitive advantage. Demand Sensing and Multi-Enterprise Inventory Optimization will help AkzoNobel capture current information from across the supply chain to better predict demand and drive down inventory.
“We are delighted to have AkzoNobel as a customer,” said Robert F. Byrne, CEO of Terra Technology. “Balancing inventory investments with demand is challenging in today’s volatile markets. Terra’s solutions can help AkzoNobel improve operational efficiency to streamline its supply chain and assist in its goal of building lasting and profitable customer relationships.”
About AkzoNobel
AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 50,000 people around the world are committed to excellence and delivering Tomorrow’s Answers Today™.
About Terra Technology
Terra Technology uses better mathematics to sense demand, optimize inventory and predict transportation and warehousing requirements for some of the world’s best-known companies including Shell, Procter & Gamble, Unilever, Mondelēz International, Kimberly-Clark, AkzoNobel, Kraft Foods, ConAgra Foods, General Mills, Kellogg and Campbell Soup. Terra invented demand sensing in 2002 and offered the first solutions to use retailer data systematically to improve supply chain efficiency, enhance service, cut inventory and reduce waste. Information on how Terra enables a truly integrated supply chain can be found at terratechnology.com.
