SPE.L Regulatory News (SPE)

20 Mar 2007 13:45

Sopheon, the international software and services company,announced today that Land O'Lakes, Inc., a leading dairy cooperative,is implementing Sopheon's Accolade product life cycle management (PLM)system as the technology foundation for its product innovationprocesses. The solution will be used initially within the company'sDairy Foods business unit, where it will support cross-functionalteams responsible for developing and commercializing new products.Plans include subsequent enterprise-wide deployment. £ Headquartered in St. Paul, Minn., Land O'Lakes generates annualrevenues of more than $7 billion and is one of the largest dairyco-ops in the U.S. It markets milk, spreads, cheeses and deli productsto consumers, food services and food manufacturers throughout theworld. Land O'Lakes also offers an extensive line of agriculturalsupplies and state-of-the-art production, distribution and businessservices. During its 86-year history, the company has established areputation for quality, strong brands and innovation. £ Land O'Lakes has stated that one of its principal strategic goalsis to incorporate best practices into all aspects of its operations.This focus is part of an overarching plan for driving additionalrevenue and profit growth from core businesses. Actions include aninitiative aimed at enhancing the company's processes for productinnovation. £ Sopheon's system will be used to automate the Stage-Gate productdevelopment methodology being deployed by Land O'Lakes. Accolade willstreamline the process, making it easier to use and reducing theadministrative burden otherwise associated with its implementation.Step-by-step task guidelines and Land O'Lakes' best-practice basedreport templates have been embedded in the software to aid efficientprocess execution and successful completion of deliverables. Thesystem will strengthen innovation process governance by providingdecision support and controls that enable more informed prioritizationof product development projects. £ "Innovation is essential to our business success," said TomGruetzmacher, vice president of research and development at LandO'Lakes. "Accolade will automate our product development process andassist us in setting project priorities. Its capabilities will help toensure that the right new products get to market, and get there ontime. In designing our system we benefited from Sopheon's domainexpertise in product-development best practices and the fact that theyhave installed and supported similar, successful systems for asubstantial number of consumer packaged goods companies. Theirindustry-specific know-how gave us an important leg up in developing aprocess in which we can have confidence." £ "Business process improvement is a central strategic thrust formost companies today," said Andy Michuda, chief executive officer ofSopheon. "And recent surveys consistently place product and servicedevelopment processes among the top improvement priorities. Thereasons are all about business. Improved innovation means substantialincreases in portfolio net-present-value and, ultimately, higherprofits, revenues and stakeholder returns. Land O'Lakes' aim is tocompete not only with superior products, but also with superiorproduct development processes. We are committed to helping themachieve that goal." £ Land O'Lakes' deployment continues an extended pattern of Accoladeadoption by major consumer goods manufacturers. Ten of the 100companies comprising Consumer Goods Technology magazine's currentregistry of the world's largest consumer goods producers are using theSopheon system. Examples include Cadbury Schweppes, Electrolux,Nestle, and Reckitt Benckiser. £ Accolade(R) is a registered trademark of Sopheon plc. £ Stage-Gate(R) is a registered trademark of the Product DevelopmentInstitute. £ All other trademarks and registered trademarks are the soleproperty of their respective owners. £ About Land O'Lakes £ Land O'Lakes, Inc. is a farmer-owned food and agriculturalcooperative with annual sales of more than $7 billion. Land O'Lakesdoes business in all 50 states and more than 50 countries. It is aleading marketer of a full line of dairy-based consumer, foodserviceand food ingredient products across the United States; serves itsinternational customers with a variety of food and animal feedingredients; and provides farmers and ranchers with an extensive lineof agricultural supplies (feed, seed, crop nutrients and cropprotection products) and services. Land O'Lakes also providesagricultural assistance and technical training in more than 25developing nations. For more information, please visitwww.landolakesinc.com. £ About Sopheon £ Sopheon (LSE:SPE) is an international provider of software andservices that help organizations improve the business impact ofproduct innovation. Sopheon's Accolade system automates and governsthe innovation process, enabling companies to increase revenue andprofits from new products. Sopheon is listed on the AIM Market of theLondon Stock Exchange and on the Euronext in the Netherlands. For moreinformation, please visit www.sopheon.com. Copyright Business Wire 2007