The software allows manufacturers to extract data from its records using pattern recognition algorithms to predict sales for every item in every location.
Patrick Folan, VP, Supply Chain, Campbell Soup Company, said the upgrade means it can make supply decisions using forecasts reflecting current market realities rather than historical estimates.
“Following our recent implementation of SAP’s Advanced Planner and Optimizer (APO) tools for supply chain management, upgrading to Demand Sensing 5.0 was the next logical step,” he said.
Access to accurate daily forecasts helps manufacturers improve customer service, grow revenue by increasing on-shelf availability, free cash and improve return on capital.
Terra’s Demand Sensing is currently used by manufacturers to plan and execute operations in more than 160 countries.
Robert Byrne, CEO, Terra Technology, told FoodProductionDaily.com Campbell Soup Company was its first customer when it set up the company in 2003 and it’s happy to see it still uses its software 10 years on.
Expanding into Europe
Other customers include Unilever, Kellogg’s, General Mills, Kraft, Mondelēz International and ConAgra Foods.
“We’re half way through the installation of the software because it involves a lot of integration with its current systems but we hope to be finished by March,” he said.
“We are doing a lot of work in North America right now but we have won a lot of business in Europe as well, which is gratifying as it’s a new market for us.
'Volatility of the market'
“Manufacturers are struggling with the volatility of the market and there is a lot of demand from retailers regarding expectation of service and new promotions.
“There is a lot of complexity, certainly more than 10 years ago so we have to help them manage their software in the right way. Our customers mainly come from the UK, France and The Netherlands.”
Byrne added its last product introduction was Transportation Forecasting, which is currently implemented at General Mills, Mondelēz International and Kraft, but the company plans to make a product announcement Q3 this year.