Ridgefield, CT, February 23, 2004 – Terra Technology, the leading provider of Real-Time Forecasting solutions, today announced that Ventura Foods, LLC, a leading manufacturer of edible oils, shortenings, dressings, margarines, sauces, and flavor bases, has selected Terra's Real-Time Forecasting (RTF) solution to improve the accuracy of its demand plans on a daily basis. After successfully piloting Terra's solution, Ventura began the implementation process and is anticipating going live by June.
Ventura Foods Director of Logistics, Wayne Olson, said, "Terra's Real-Time Forecasting solution holds significant promise for Ventura Foods since our planning and deployment plans are very much aligned with our customer's need for short lead times and fast response. With Real-Time Forecasting, we will be able to improve inventory visibility throughout the supply chain and increase our customer service levels at the same time."
Ventura will use Terra's Real-Time Forecasting solution to create accurate daily forecasts to help manage volatile demand. Patent-pending forecasting techniques will stabilize manufacturing schedules, improve equipment utilization, and synchronize the movement of product across Ventura's 12 plants and direct to customers. Implementation of Real-Time Forecasting will enable Ventura to improve customer service levels, optimize procurement, and increase inventory visibility throughout the supply chain.
"As a leader in their industry sector, Ventura is challenged with balancing volatile customer demand with daily fluctuations in edible oil prices," said Robert Byrne, President of Terra Technology. "We are pleased to provide a solution that will help them more effectively manage this process, while delivering better results to their customers and shareholders alike."