Company Filing History:
Years Active: 1976-2011
Title: Innovations by Richard A. Leavitt: A Journey of Cost-Effective Supplier Solutions
Introduction: Richard A. Leavitt, an accomplished inventor based in Longmont, Colorado, has made significant contributions to the field of supply chain management through his innovative patents. With a total of three patents to his name, Leavitt focuses on developing systems that aid in selecting suppliers based on cost efficiency and demand forecasting.
Latest Patents: One of Leavitt's most notable patents is the "System and program product for selecting a lower cost supplier based on total cost and forecasted demand." This invention involves collecting componentized costs from multiple suppliers, which encompass both fixed and variable costs related to raw materials and production for specific items. When a buyer is ready to place an order, they provide specific order details along with a demand forecast. Leavitt's system calculates the optimal order quantity based on these factors and identifies the supplier with the lowest projected total lifetime cost for the item.
Career Highlights: Richard A. Leavitt currently works with International Business Machines Corporation (IBM), a testament to his innovative capabilities in the corporate world. His focus on cost efficiency and supplier selection methodologies has positioned him as a significant player in the supply chain sector.
Collaborations: Leavitt's work includes collaborations with several esteemed colleagues, including Gerald W. Baumann and David H. Goldstein. These partnerships highlight the importance of teamwork in the pursuit of innovation, allowing for shared insights and advancements in technology.
Conclusion: As an inventor, Richard A. Leavitt continues to push the boundaries of innovation in supplier selection and cost management. His contributions not only enhance operational efficiencies but also provide valuable tools for companies looking to optimize their supply chains. Through his patents, Leavitt demonstrates the vital role of innovation in driving business success and responding to market demands.