Terra Technology today announced a global partnership with Wipro Ltd. (NYSE:WIT), a global information technology, consulting and outsourcing company. Effective immediately, Wipro will offer Terra’s Demand Sensing and Multi-Enterprise Inventory Optimization software as a cloud-based business process as a service. Terra’s solutions help improve customer service, free cash from excess inventory and reduce operating costs by better predicting customer demand and setting optimal stock levels.
Achieving a healthy inventory that balances customer commitments and cost to serve is important to generating profitable growth, especially in volatile markets. Inventory is a large investment for multinational manufacturers, often representing between 25 and 35 percent of current assets. This inventory frequently includes tens to hundreds of millions of dollars of excess stock that can be safely cut with Terra’s solutions. The new business process as a service (BPaaS) offering enables quicker adoption and lower initial costs, making it more accessible to a larger number of companies.
“This new service allows business leaders with limited information technology resources or those who prefer operational expenditures instead of capital investments to gain the financial benefits of sensing and responding to demand in today’s fast-moving markets,” said Robert Byrne, CEO of Terra Technology. “Wipro’s global cloud and supply chain process expertise provides an excellent platform to extend our reach and help more manufacturers gain the cash flow, earnings and balance sheet benefits of a modern demand-driven supply chain.”
“Extracting value from big data to deliver growth, control costs and manage risks provides an important competitive advantage,” said Brian Nolf, global supply chain practice leader of Wipro. “A better understanding of customers is also a key enabler in cutting waste and building sustainable supply chains, a strategic initiative for many of our clients. We look forward to working with Terra Technology to provide innovative cloud and business process services that harness the full potential of big data.”