Science of Business, Inc. - Theory of Constraints

Background

Overview

Science of Business, Inc. specializes in applying the Theory of Constraints (TOC) to enhance profitability for custom manufacturers, including machine shops and job shops. Established in 2002, the company offers consulting, coaching, training, and self-learning programs centered around TOC principles. Their mission is to help clients achieve better business results by focusing on critical constraints and leveraging existing resources. The company's vision is to be a leading provider of TOC-based solutions that drive sustainable growth and operational excellence.

Mission and Vision

Mission: To maximize profitability for custom manufacturers by applying scientific principles, particularly the Theory of Constraints, to business operations.

Vision: To be the premier provider of TOC-based solutions, enabling clients to achieve sustainable growth and operational excellence.

Primary Area of Focus

Science of Business, Inc. focuses on improving operations, pricing, quoting, and sales/marketing for custom job shops, machine shops, and manufacturers. Their services include the Velocity Scheduling System, Job Shop Pricing, Throughput Accounting, and Mafia Offer Boot Camps.

Industry Significance

By implementing TOC principles, Science of Business, Inc. has helped numerous manufacturers enhance their operational efficiency and profitability. Their approach has been recognized for its effectiveness in streamlining manufacturing processes and improving financial performance.

Key Strategic Focus

Core Objectives

Profit Maximization: Identify and manage constraints to increase throughput and reduce operational expenses.

Operational Efficiency: Implement TOC methodologies to streamline processes and reduce lead times.

Sustainable Growth: Enable clients to achieve long-term profitability through continuous improvement.

Specific Areas of Specialization

Velocity Scheduling System (VSS): A visual manual scheduling system that integrates with existing ERP systems or operates independently, focusing on increasing job throughput to reduce lead times and improve due date performance.

Job Shop Pricing: A coaching program that analyzes capacity, quoting, and pricing to understand profit drivers and increase return on sales by 5 to 30%.

Throughput Accounting: Consulting services to transition to throughput accounting while maintaining GAAP for reporting.

Mafia Offer Boot Camp: A program to create compelling offers that are irresistible to prospects and unmatched by competitors.

Key Technologies Utilized

Science of Business, Inc. employs proprietary tools and methodologies based on TOC principles, including the Velocity Scheduling System and Throughput Accounting, to optimize manufacturing operations and financial performance.

Primary Markets Targeted

The company primarily serves custom job shops, machine shops, and manufacturers seeking to improve operational efficiency and profitability through the application of TOC principles.

Financials and Funding

Funding History

Specific details regarding the total funds raised and recent funding rounds for Science of Business, Inc. are not publicly disclosed.

Notable Investors

Information about individual investors or investment firms backing Science of Business, Inc. is not publicly available.

Intended Utilization of Capital

While specific plans for capital utilization are not detailed, it is likely that any funding would be directed towards expanding consulting services, developing new TOC-based tools, and enhancing client support capabilities.

Pipeline Development

Key Pipeline Candidates

Science of Business, Inc. continues to develop and refine its suite of TOC-based tools and programs, including the Velocity Scheduling System, Job Shop Pricing, and Mafia Offer Boot Camps, to address the evolving needs of custom manufacturers.

Stages of Development

These programs are in various stages of development, with some being actively implemented with clients and others in the refinement phase.

Target Conditions

The primary focus is on improving operational efficiency, profitability, and sales effectiveness for custom job shops, machine shops, and manufacturers.

Anticipated Milestones

Milestones include the successful implementation of these programs with clients, leading to measurable improvements in operational performance and profitability.

Technological Platform and Innovation

Proprietary Technologies

Velocity Scheduling System (VSS): A visual manual scheduling system designed to increase job throughput and reduce lead times.

Throughput Accounting: A financial management approach that focuses on maximizing throughput while minimizing inventory and operating expenses.

Significant Scientific Methods

Theory of Constraints (TOC): A management philosophy that identifies and addresses the most critical limiting factor (constraint) that hinders a system from achieving its goal.

Thinking Processes: A set of tools within TOC that help organizations systematically identify and solve problems.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, the company's methodologies may incorporate data analysis techniques to optimize scheduling and pricing strategies.

Leadership Team

Key Executives

Lisa Lang: President & CEO, specializing in job shop and machine shop scheduling and TOC expertise.

Brad Stillahn: General Manager, focusing on company-wide implementation of TOC and pricing of custom manufactured products.

Brett G.: Throughput Accounting Guru, providing expertise in throughput accounting methodologies.

Brad S.: Job Shop & Machine Shop Pricing Expert, specializing in pricing strategies for custom manufacturers.

Professional Backgrounds and Contributions

Lisa Lang: As President & CEO, Lisa leads the company's strategic direction and oversees the development of TOC-based solutions for clients.

Brad Stillahn: With a background in implementing TOC at Adstick Custom Labels, Brad brings practical experience in TOC applications to the company.

Brett G.: An expert in throughput accounting, Brett provides guidance on financial management strategies aligned with TOC principles.

Brad S.: Specializing in pricing strategies, Brad helps clients optimize their pricing models to enhance profitability.

Competitor Profile

Market Insights and Dynamics

The market for TOC-based consulting services is competitive, with several firms offering similar services. Science of Business, Inc. competes with companies like Vector, Syncore, and Pinnacle Strategies. These competitors vary in size, with some having larger teams and broader service offerings.

Competitor Analysis

Vector: A competitor in the professional services industry, offering services that may overlap with TOC consulting.

Syncore: Another competitor providing services in the same domain, with a focus on operational efficiency and profitability.

Pinnacle Strategies: Offers consulting services that may include TOC applications, targeting similar markets.

Strategic Collaborations and Partnerships

Specific details about collaborations or partnerships for Science of Business, Inc. are not publicly disclosed.

Operational Insights

Science of Business, Inc. differentiates itself through its specialized focus on custom manufacturers and its results-based consulting approach, which often ties fees to actual bottom-line results.

Strategic Opportunities and Future Directions

The company has opportunities to expand its service offerings, enhance its technological platforms, and explore new markets to further solidify its position in the TOC consulting industry.