KTP helps land MoD contract for Qioptiq

Posted on 30 Jun 2018 and read 639 times
KTP helps land MoD contract for Qioptiq A Knowledge Transfer Partnership (KTP) co-funded by the Welsh Government, the EPSRC and Innovate UK enabled researchers at Cardiff Business School to spend two years developing a tool-set to improve Denbighshire-based Qioptiq’s inventory forecasting operations, and this has helped the company to secure a six-year contract the Ministry of Defence (MoD) to service night vision equipment.

It has also led Qioptiq to build a new £3.7 million warehouse next to its plant on St Asaph Business Park.

Economy Secretary Ken Skates said: “Qioptiq is one of our most innovative high-value manufacturing companies, operating in a priority sector, and I have no doubt that the partnership has helped to secure the long-term future of the plant in St Asaph.

"This is turn has had a significant economic impact on the local economy, providing high-quality local employment and benefitting the wider supply chain.”

The KTP enabled Thanos Goltsos, a knowledge transfer associate in ‘lean’ inventory forecasting business operations, to work with Qioptiq under the supervision of two Cardiff Business School professors — Aris Syntetos and Mohamed Naim.

His research showed that the business could reduce its inventory by up to 25%. It provided sound inventory forecasting for sales and returns, supporting Qioptiq’s revamped ‘service and remanufacture’ circular economy model.

Peter White, Qioptiq’s managing director (www.qioptiq.com), said: “The KTP has produced outstanding results. Historically, we operated a complex supply chain, but Thanos’s expertise developed a tool-set that we could use to support our integrated logistics supply operations.

"The partnership has helped us to secure a contract from the MoD to support equipment that is vital to the safety of British soldiers in front-line operations.”

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