Global paints and coatings company AkzoNobel has purchased Terra Technology’s Demand Sensing and Multi-Enterprise Inventory Optimisation solutions, hoping to improve demand predictability and reduce inventory across Europe and Africa.
The company, which also produces speciality chemicals, said that chemical firms are increasingly interested in becoming demand driven to improve supply chain efficiency and gain a competitive advantage.
It said it chose Terra’s solutions after a successful trial in Europe showed a 29 per cent reduction in forecast error, as well as the opportunity to cut inventory.
