The commercial impact of this project is huge, since waste in any company/organization represents lost revenue. Based on several industrial feedbacks, the most important discovery was finding, that the team?s system will work best in small to medium size manufacturing facilities, which account for approximately 90% of the companies in NJ and the USA. These groups of wastes will be analyzed and quantified using mathematical equations, algorithms, as well as visualization methods and tools, including our novel computerized, multimedia, interactive dashboards, and others. The team?s goal is to eliminate waste by deploying measurable and quantifiable waste reduction methods and technologies, such as waste relating to (1) waiting, (2) inventory, (3) motion, (4) rework, (5) over-production, (6) over-processing, (7) transportation, and (8) talent. The broader impact/commercial potential of this I-Corps project is to provide an in-depth market analysis of waste reduction, and eventually complete waste elimination in small to medium size companies / organizations.
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