AkzoNobel, the paints and coatings company, has purchased Terra Technology’s demand sensing and multi-enterprise inventory optimisation software.
It chose the system following a pilot in Europe which demonstrated “a 29 per cent reduction in forecast error and the opportunity to reduce several days of inventory,” said Alain Crottaz, EMEA planning director at AkzoNobel.
“Better forecast accuracy and an optimized safety stock engine provided by Multi-Enterprise Inventory Optimization will help us achieve our key goals of lowering stock while improving customer service.”
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 will use the software to capture current information from across the supply chain to predict demand better and drive down inventory.