Ventura Foods, Hormel seek profitable pricing with SignalDemand solution deployment
SignalDemand reports successful deployment of its PriceConsistency and PriceOptimization 2.0 for food processors at Ventura Foods, and a contract with Hormel.
SignalDemand , a supplier of pricing and demand-management solutions for commodity and food manufacturers, reports successful deployment of SignalDemand PriceConsistency and PriceOptimization 2.0 for food processors at Ventura Foo ds, a branded and private label food processor.
SignalDemand provides patent-pending on-demand software solutions and advisory services that help manufacturers and food processors set optimal margins, prices and product mix, while aligning production capacity, to generate significant revenue and margin benefits. With the deployment of SignalDemand, Ventura has been able to adjust margins and prices to be more attuned with its customers' preferences in value-added products.
"After deploying SignalDemand, we have increased insight into the demand and profitability for our products and are able to know exactly how pricing decisions impact our financial performance in every market," says Rick Mazer, CEO and president of Ventura Foods. "As a result, we have improved company performance and increased consistency in our pricing decisions across all regions. We believe this visibility will help us better serve our customers."
The SignalDemand application enables Ventura to make fair and uniform pricing decisions that benefit both the company and its customers. The application recommends optimal prices including ensuring the product volumes resulting from the pricing will use production capacity optimally.
Hormel Foods , a multinational manufacturer and marketer of consumer-branded food and meat products, also will use SignalDemand to enhance its pricing and demand management processes.
"We selected SignalDemand because of its unique platform and ability to improve pricing decisions while considering business constraints, such as supply and related costs," says Gary Ray, president of protein business units, Hormel Foods. "We believe this will ultimately help us better serve our customers."
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
- Survey Prize Winners
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey