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Press Release Monsanto Selects Smart Software's SmartForecasts to Improve Forecasting Process
Demand forecasting, planning and inventory optimization system operational within three weeks
Belmont,
Mass., February 25, 2004 - Smart Software today announced that Monsanto Company
(NYSE: MON) has selected the SmartForecasts Enterprise demand forecasting,
planning and inventory optimization system to improve inventory and production
management in its approximately $2 billion Seed and Genomics business segment.
SmartForecasts is integrated with Monsanto's Oracle database which stores demand
data and forecast results and shares information with several of the company's
planning systems. The purchase is part of Monsanto's Six Sigma effort to improve
core company operations. Monsanto plans to improve forecasting accuracy and
optimize safety stock levels with the help of SmartForecasts.
Additionally, Monsanto will use SmartForecasts to help it develop long-range
production plans and forecast crop yields, as well as produce in-season sales
and production forecasts.
After evaluating a number of systems, Monsanto's Seed and Genomics business
chose SmartForecasts, because it satisfied many of the company's selection
criteria. According to Jim Most, Global Seed Supply Process Improvement Manager,
Monsanto was looking for a forecasting system that was easy to use, would gain
quick acceptance by selected users, and eliminate the overhead expenses normally
associated with ERP forecasting modules and other demand planning systems.
"To meet our goals, we need to have acceptance of statistical forecasting as
a key part of our planning process," said Most. "It is critical that we are able
to cut through the noise, observe demand patterns, and understand our product
mix better. Our old system didn't have the power to do that. SmartForecasts
does. Its Excel-like user interface will also facilitate transition from our
former Excel-based forecasting process."
Monsanto also wanted a system that was easy to implement. SmartForecasts'
universal database connectivity and Database Wizards simplify the implementation
process and enable companies like Monsanto to easily integrate SmartForecasts
with their Oracle, SQL Server or IBM DB2 corporate database.
"The startup went very smoothly," according to Most. "From the time we
received SmartForecasts until we started doing real, productive work was only
three weeks. So far, SmartForecasts is doing everything we expected of it."
Headquartered in St. Louis, Missouri, Monsanto is a $4.5 billion Fortune 500
provider of agricultural products and solutions. The company's Seed and Genomics
segment produces leading seed brands, including DEKALB and Asgrow, and develops
biotechnology traits that integrate insect control and weed control into the
seed itself.
Smart Software
Founded in
1984, Smart Software, Inc. is a leader in providing businesses with
enterprise-wide demand forecasting, planning and inventory optimization
solutions. Smart Software's flagship product, SmartForecasts, has thousands of
customers worldwide, including midmarket enterprises and Fortune 500 companies,
such as Mitsubishi, Siemens, Labatt Breweries, Coca-Cola and Bristol-Myers
Squibb. SmartForecasts gives demand planners the tools to handle sales
seasonality, promotions, new and aging products, multi-dimensional hierarchies,
and intermittently demanded service parts and capital goods items. It also
provides inventory managers with accurate estimates of the minimum inventory and
safety stock required to meet future orders, thereby ensuring the most
cost-effective inventory allocation to achieve desired service levels. Smart
Software is headquartered in Belmont, Massachusetts and can be found on the
World Wide Web at www.smartcorp.com.
SmartForecasts and SmartWeb Collaborator are trademarks of Smart Software,
Inc. All other trademarks are the property of their respective owners.
For more information, please contact Smart Software, Inc., Four Hill Road,
Belmont, MA 02478.
Phone: 1-800-SMART-99 (800-762-7899);
FAX: 1-617-489-2748; E-mail: info@smartcorp.com
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