Campbell Soup Selects Terra Technology for Improved Forecast Accuracy; Real-Time Forecasting Provides Greater Visibility of Customer Demand and Decreases Forecast Error by 50%.Business Editors/High-Tech Writers RIDGEFIELD, Conn.--(BUSINESS WIRE)--March 22, 2004 Terra Technology, the leading provider of Real-Time Forecasting solutions, today announced that the Campbell Soup Company Campbell Soup Company (NYSE: CPB) (also known as Campbell's) is a well-known American producer of canned soups and related products. Campbell's products are sold in 120 countries around the world. It is headquartered in Camden, New Jersey. (NYSE NYSE See: New York Stock Exchange :CPB CPB see cardiopulmonary bypass. CPB Cardiopulmonary bypass. See Port-Access cardiopulmonary bypass. ), a global manufacturer and marketer of high-quality soup, sauces, beverage, biscuits, confectionery confectionery, delicacies or sweetmeats that have sugar as a principal ingredient, combined with coloring matter and flavoring and often with fruit or nuts. In the United States it is usually called candy, in Great Britain, sweets or boiled sweets. and prepared food products, has selected Terra's Real-Time Forecasting (RTF (Rich Text Format) A document format from Microsoft for encoding text and graphics. It was adapted from IBM's DCA format and supports ANSI, IBM PC and Macintosh character sets. ) software to enable accurate, detailed customer demand visibility. The North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Soup, Sauces, and Beverage division will use Terra's RTF solution to gain greater visibility into day-to-day demand changes and order flows. Results from a successful pilot showed that the company can decrease its short-term forecast error by 50%. This improvement in accuracy will enable Campbell Soup to realize significant reductions in inventory and increase customer service levels. "By accurately predicting demand, Terra's solution will help stabilize our production schedules, reduce safety stock, and improve service levels," said Mike Mastroianni, the Vice President of North American Planning and Operations Support for the Campbell Soup Company. "One of our major objectives for 2004 is to optimize finished goods inventory while improving service levels and decreasing costs. Terra's Real-Time Forecasting capabilities will be a major enabler to help us achieve this objective." Terra's Real-Time Forecasting solutions create accurate short-term forecasts every day. Customer order flow is monitored to detect demand changes, which are then used by the patent-pending statistical techniques to generate accurate daily forecasts for the next month. "Like most leading consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and companies, the Campbell Soup Company has diligently explored other options to reduce forecast error," said Robert Byrne Robert Eugene Byrne (born April 20, 1928, New York City) is a leading American chess player, a Grandmaster, and a chess author. He won the U.S. Championship in 1972, and was a World Chess Championship Candidate in 1974. , President of Terra Technology. "Terra's new pattern recognition technology provides consumer products companies with a reliable and proven solution to decrease forecast error by 50%." About the Campbell Soup Company Campbell Soup Company is a global manufacturer and marketer of high quality soup, sauces, beverage, biscuits, confectionery and prepared food products. The company is 135 years old, with nearly $7 billion in annual sales and a portfolio of more than 20 market-leading brands. In North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , leading brands include "Campbell's" soups and "Swanson" broths, "Pepperidge Farm Pepperidge Farm was founded in 1937 by Margaret Rudkin, who named the brand for a property her family owned in Connecticut (which itself was named for the pepperidge tree, Nyssa sylvatica). In 1961, the company was purchased by Campbell's. " cookies, crackers, breads and frozen products, "V8" vegetable juices, "V8 Splash" juice beverages, "Pace" Mexican sauces, "Prego" pasta sauces, and "Franco-American" canned pastas and gravies. In Europe, leading brands include "Erasco" soups in Germany and "Liebig" soups in France, and the company also has several dry soup and sauce brands: "Batchelors," "Oxo," "Lesieur," "Royco," "Liebig," "Heisse Tasse," "Bla Band," "Erin," and "McDonnells." Additional European brands include "Homepride" sauces and "Fray Bentos Fray Bentos (frī`bān`tōs), city (1996 pop. 22,577), capital of Río Negro dept., SW Uruguay, a port on the Uruguay River. It was founded in 1859 as Independencia and renamed for an 18th-century religious hermit of the region. " canned meats in the United Kingdom, and "Devos Lemmens" mayonnaise and cold sauces in Belgium and France. In the Asia Pacific region, the company markets "Arnott's" biscuits, "Campbell's" soups and stock, and "Swanson" broths. "Godiva" chocolates are sold around the world. The company is ably supported by 25,000 full-time employees worldwide. For more information on the company, visit Campbell's website at www.campbellsoup.com. About Terra Technology Terra Technology is the leading provider of Real-Time Forecasting (RTF) solutions for consumer goods companies. Terra's patent-pending, pattern recognition technology monitors order flow to provide accurate daily forecasts. Complementary to traditional demand planning systems, Terra's solution typically cuts near-term forecast error by at least 50%. This minimizes manufacturing disruptions, improves customer service and saves money. Terra's clients include the Campbell Soup Company, Georgia-Pacific, McCain Foods and Ventura Foods. For more information, please visit Terra on the Web at www.terratechnology.com or call (866) 677-8191. |
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