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Innovation in Business

10 July 2019

Innovation Impact
Left to right: Peter White, Qioptic Managing Director, Athanasios Goltsos, Research Associate, Dr Fionnuala Costello, Head of Open Programmes, Innovate UK, Professor Aris Syntetos, Director of PARC

A knowledge transfer partnership between Cardiff Business School and Qioptiq, a leading-edge North Wales photonics company, has won the Innovation in Business accolade at this year’s Cardiff University Innovation and Impact Awards.

The collaborative project saw Cardiff Business School Professors Aris Syntetos and Mohamed Naim and Dr Thanos Goltsos, an expert in ‘lean’ inventory forecasting, provide the knowhow to develop a ‘remanufacturing’ inventory forecasting toolkit.

Qioptiq, a St Asaph based company, designs and manufactures photonic products and solutions for national and international defence and aerospace customers.

Thanks to the efforts of the academic and industry-based team they have created a state-of-the-art business model to facilitate leaner supply chains and reduce costs through enhanced inventory management.

Peter White, Managing Director, Qioptiq, said: “We are delighted to win this award with Cardiff Business School. It reinforces our long-standing reputation as a pioneering company with a hands-on approach to innovation…”

“The KTP led us to simplify our supply chain and utilise a new toolset to support our logistics supply operations, allowing us to effectively pinpoint demand, forecast returns and plan inventory orders.”

Peter White Managing Director Qioptiq

Professor Syntetos added: “It’s a tribute to everyone involved, from Thanos’s outstanding research as KTP Associate – bringing real benefits to one of Wales’s most innovative companies – to the dedicated supervision of Professor Naim…”

“Innovate UK judged the KTP to be ‘outstanding’ – and we are thrilled that our research continues to win top awards whilst contributing to leaner, greener business around the world.”

Professor Aris Syntetos Distinguished Research Professor, DSV Chair

Research on leaner inventories and environmental sustainability aligns closely with Cardiff Business School’s Public Value strategy, reflecting the increasing interest of UK and Welsh Governments in the circular economy, sustainability and remanufacturing.

The Awards, held on 3 June, were organised by Cardiff University Innovation Network, which has promoted business-university interactions for more than 20 years.

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