Do you have supply chain resilience concerns? Are you struggling to find suppliers? Or are you dissatisfied with the your existing suppliers? Perhaps you’re thinking about manufacturing a products in-house, rather than purchasing externally?
Through technology scouting, we uncover internal manufacturing opportunities that organizations might not have considered and position our clients for growth.
Since 1956, family-owned company VT Industries has been making commercial and residential doors and countertops. Historically, the company sourced the fireproof core for its commercial doors from an outside supplier. Disappointed with the product quality and availability, the company decided to explore manufacturing its own fireproof door cores.
In collaboration with the Iowa State University Center for Industrial Research, we embarked on a technology scouting project to uncover answers to our client’s questions. After researching and identifying materials with the greatest potential, we conducted due diligence and recommended two options. Using one of the materials we recommended, VT Industries developed a proprietary formulation and manufacturing process.
Our strategic advising led to significant economic and financial impact. VT Industries:
- invested $10 million in a new plant
- hired 12 skilled professionals who manufactured the material for use in the fireproof doors
- sold the material in the construction industry
- estimated that the project impact was $24 million over three years, including $2 million in new sales in the first year.
Is your manufacturing organization looking for opportunities for growth? Get in touch to learn how we can help.