The contract will ensure that UK armed forces around the world have access to essential night vision equipment. It’s predicted that with Qioptiq’s support, the MoD will save £47 million, while helping troops to stay safe.
As a result of the win, Qioptiq has opened a £3.7 million warehouse in North Wales to deliver the contract and increased its staff numbers.
Qioptiq supplies photonic devices to the medicine, manufacturing and defence industries.
Previously, it had difficulty in predicting how many of its products would be ordered, and how many returned. This affected its ability to set prices, meet demand and plan operations.
When Thanos Goltsos – an expert in forecasting and inventory control at Cardiff Business School – began working with the company through the KTP, his first priority was understanding how Qioptiq’s operations worked.
Through his experience as a KTP associate, Thanos benefited from personal and professional development.
I had very good supervision from top academics in the field – you have access to the best training, conferences, workshops and academic practitioners.
I also developed a can-do attitude and am now able to tackle diverse problems.
Business and academic partnerships
The KTP scheme is designed to help UK businesses to innovate and grow by linking them with a research or academic organisation.
Together they recruit a qualified graduate to work at the company for between 12 and 36 months, looking at a specific, strategic innovation project.
On why to take part in a KTP, Thanos said:
My advice to businesses would be to look at the success of other projects.
If you have a problem you get subsidised access to world-renowned expertise and academics, you recruit a person suited to the company to sort the problem out, you transfer the knowledge in-house and have the opportunity to retain this person. What’s not to like?