ATLANTA (December 16, 2005) — Invistics, a developer of manufacturing performance optimization solutions was recently featured in the presentation “Opening Doors to Technology” given by National Science Foundation (NSF) Small Business Innovation Research and Technology Transfer (SBIR/STTR) advisors to part of the House Committee on Small Business, the Subcommittee on Workforce, Empowerment and Government programs.
The National Science Foundation is an independent federal agency created by Congress to promote the progress of science and is the major funding source for cutting-edge fundamental research in many fields including mathematics, physical science, computer science, engineering and the social sciences.
Invistics has received four grants from the NSF to promote development of its patented manufacturing methodologies and software. The NSF and its SBIR program provide incentives to small companies enabling them to undertake research and development with great promise but also great risks that might otherwise inhibit discoveries.
The presentation highlighted results achieved by Invistics customers like Bristol Myers Squibb, who was selected as Pharmaceutical Manufacturing’s 2005 team of the year, given their success in reducing cycle times by 80% and work-in-progress by 75% while achieving a five-fold increase in inventory turns.
“We featured Invistics as an example of the kind of successful businesses we look for,” says Dr. Joe Hennessey, senior advisor, NSF Office of Industrial Innovation. “They understood their customers’ needs, used SBIR funds for research, leveraged academia in their research and developed a product that helps large corporations.”
Invistics helps manufacturers in complex, asset intensive industries such as consumer packaged goods and pharmaceuticals achieve operational excellence in an often overlooked, yet core, element of their supply chain — production operations. Built on Lean and Six Sigma principles, our manufacturing performance optimization solution, Invistics MachSixTM, is specifically designed to handle complex plant-level tradeoffs between inventory costs, customer service, production throughput, and cycle times. Customers use our methodology and software to identify and manage sources of variability while breaking down organizational silos. They achieve dramatic, sustained results including over 99% on-time deliveries, an average reduction of 50% in inventory, and cutting cycle times by more than half. Designed to enhance existing ERP, SCM and MES systems, our solution can be deployed quickly, without having to alter production strategies, and start delivering results within weeks. For more information, please visit www.Invistics.com or call 800-601-3456.