Belmont, Mass., February 25, 2004– Smart Software today announced that Monsanto Company (NYSE: MON) has selected the SmartForecasts™ Enterprise demand forecasting, planning and inventory optimization system to improve inventory and production management in its approximately $2 billion Seed and Genomics business segment.
SmartForecasts is integrated with Monsanto's Oracle database which stores demand data and forecast results and shares information with several of the company's planning systems. The purchase is part of Monsanto's Six Sigma effort to improve core company operations. Monsanto plans to improve forecasting accuracy and optimize safety stock levels with the help of SmartForecasts.
Additionally, Monsanto will use SmartForecasts to help it develop long-range production plans and forecast crop yields, as well as produce in-season sales and production forecasts.
After evaluating a number of systems, Monsanto's Seed and Genomics business chose SmartForecasts, because it satisfied many of the company's selection criteria. According to Jim Most, Global Seed Supply Process Improvement Manager, Monsanto was looking for a forecasting system that was easy to use, would gain quick acceptance by selected users, and eliminate the overhead expenses normally associated with ERP forecasting modules and other demand planning systems.
"To meet our goals, we need to have acceptance of statistical forecasting as a key part of our planning process," said Most. "It is critical that we are able to cut through the noise, observe demand patterns, and understand our product mix better. Our old system didn't have the power to do that. SmartForecasts does. Its Excel-like user interface will also facilitate transition from our former Excel-based forecasting process."
Monsanto also wanted a system that was easy to implement. SmartForecasts' universal database connectivity and Database Wizards simplify the implementation process and enable companies like Monsanto to easily integrate SmartForecasts with their Oracle, SQL Server or IBM DB2 corporate database.
"The startup went very smoothly," according to Most. "From the time we received SmartForecasts until we started doing real, productive work was only three weeks. So far, SmartForecasts is doing everything we expected of it."
Headquartered in St. Louis, Missouri, Monsanto is a $4.5 billion Fortune 500 provider of agricultural products and solutions. The company's Seed and Genomics segment produces leading seed brands, including DEKALB and Asgrow, and develops biotechnology traits that integrate insect control and weed control into the seed itself.