NORWALK, CT – Paint and coating manufacturer AkzoNobel has purchased Terra Technology’s Demand Sensing and Multi-Enterprise Inventory Optimization solutions to improve demand predictability and reduce inventory across Europe and Africa.
According to a company spokesperson, AkzoNobel made the selection after a successful pilot in Europe that demonstrated a 29 percent reduction in forecast error.
The chemical industry is capital intensive, so managing working capital and cash flow is particularly important, especially during times of economic volatility. Chemical companies are increasingly interested in becoming demand driven to improve supply-chain efficiency and gain a competitive advantage. Demand Sensing and Multi-Enterprise Inventory Optimization will help AkzoNobel capture current information from across the supply chain to better predict demand and drive down inventory.
Terra Technology uses mathematics to sense demand, optimize inventory, and predict transportation and warehousing requirements for a variety of companies. Terra invented demand sensing in 2002 and offers solutions that use retailer data systematically to improve supply-chain efficiency, enhance service, cut inventory and reduce waste. For more information, visit www.terratechnology.com.