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."
Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.