New Company Launches Through Joint Product Development Process
Veterans in the oil and gas industry wanted to launch a new company providing service parts for that industry. While they had expertise in the application of the service parts, they needed a strategic partner to help them develop drawings and manufacturing processes for the many parts that would make up a whole product line of service parts. This work would require joint development with a partner they could trust to not only bring the ability to machine large complex, precision parts, but the expertise and willingness to provide engineering and quality services needed to create the parts.
Beyond Precision Solution
Acme provided the new company with a quality analysis of other parts used in the industry along with close collaboration on the engineering of the new parts to be produced. Acme worked with the foundries involved to optimize the casting design for manufacturability and produced prototypes for each part. Upon the completion of the initial approval phase, Acme produced production quantities of 10 different parts for the new company to sell in their market.
Acme Industries’ Value
The new company, utilizing their strategic partnership with Acme Industries, successfully launched their business and claimed a vital niche in their market with their new service parts. Acme’s engineering and manufacturing experience enabled this customer to re-enter the marketplace without making any substantial financial investments in capital equipment or personnel. This benefit allowed the customer to quickly recapture its market share.