W.L. Gore & Associates, best known as the developer of GORE-TEX® fabrics, is a $1.2 billion company. It develops innovative fluoropolymer products for applications in next-generation electronics, medical implants, and high-performance fabrics. Gore has repeatedly been named one of the '100 Best Companies to Work for in America.' Its culture is acclaimed as a model for organizations seeking growth by unleashing creativity and fostering team-work.
The Challenge
Gore relies heavily on R&D to develop new products to generate future revenues. Like any research-driven company, it must make careful decisions about which projects to fund based on expected return over time, subject to available R&D funds. These decisions should be informed by careful expert forecasts of the probabilities of technical and market success, the uncertain time and costs of R&D and bringing the products to market, as well as future revenue estimates. The process must be consistent and open so that R&D executives and managers understand and buy into the decisions.
Why Analytica?
According to project leader, Joseph DiGiacomo, Gore chose Analytica because it offers (1) representation of uncertainties, with Monte Carlo for probabilistic simulation and sensitivity analysis, (2) transparency by providing a visual interface and well-documented model structure, and (3) scalability with flexibility and modularity to allow it to "grow without growing out of control".
The Solution
Gore has developed a standard process employing Analytica with a common framework for reviewing R&D projects. Each project has a "Facilitator" who is a champion of the assessment process, with skills in modeling and guiding the ...