NORWALK, Conn.--(BUSINESS WIRE)--Terra Technology congratulates Unilever, Procter & Gamble, Kimberly-Clark and General Mills for being recognized in the August 12, 2014, 2014 Gartner Supply Chain Top 25: Consumer Products report. According to the report, “The consumer products top 10 is an annual recognition of achievement and advancement of supply chain capabilities. This research acknowledges leading consumer products supply chains, discusses the characteristics of leaders and the relevant leadership requirements for the coming decade.” Four of the top ten manufacturers honored by Gartner for supply chain excellence are Terra customers, including the two top-ranked companies.
Terra customers listed in Gartner’s Top 25 all use Demand Sensing software to harness big data from across the supply chain to better understand customer behavior and create accurate demand predictions based on current market conditions. Findings from an annual forecasting benchmark study show that Terra Demand Sensing provides an average 38 percent reduction in forecast error. More accurate predictions allow manufacturers to improve service, reduce operating expenses and free cash by cutting unnecessary inventory.
“We congratulate our customers for their commitment to having the most advanced supply chains,” said Robert F. Byrne, CEO of Terra Technology. “It is an honor that our solutions are being used by industry leaders to make better decisions and gain a competitive advantage in today’s volatile markets.”
The consumer products industry is known for leading the way in supply chain prowess and adopting advanced technology to perform in highly competitive and volatile markets. Other industries often turn to consumer products leaders as the source of best practices and field-proven technology. For instance, a study by McKinsey & Company found that the fast-moving consumer goods industry is more than a decade ahead of life sciences in terms of supply chain capability and performance; and that the healthcare sector has the potential to improve margins by $130 billion by adopting supply chain advances, which are well-established in other industries.
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, General Mills, ConAgra Foods, Kellogg, Campbell Soup and others. 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. Terra’s solutions are currently used in more than 160 countries. Information on how Terra enables a truly integrated supply chain can be found at terratechnology.com.