Faustson Tool Attends White House Meeting on Supply Chain Innovation

    WASHINGTON, DC, August 01, 2015 /24-7PressRelease/ -- Executives from Faustson, a worldwide leader in the machining industry, participated in the White House Supply Chain Innovation Roundtable earlier this month to discuss U.S. manufacturing and supply chains. The Supply Chain Innovation Initiative was a first-ever convening of manufacturing leaders discussing how to strengthen the innovation capabilities of U.S. supply chains.

Presidential cabinet members, senior White House officials, and representatives from more than 25 manufacturers attended the meeting. Faustson was one of eleven small manufacturers invited by Vikrum Aiyer, senior policy advisor to the National Economic Council, to participate as part of the Administration's continuing emphasis on strengthening small businesses to ensure that the U.S. remains competitive in the manufacturing industry.

"We were honored to be part of this important White House panel," said Heidi Hostetter, Faustson vice-president. "The roundtable, as well as the policies going forward, emphasized the importance of manufacturing and small business to the US economy and the White House's continuing commitment to innovation and technology."

The meeting focused on innovation in manufacturing, something Faustson is doing every day for its customers. With the company motto of "We Accept Your Challenge," Faustson is devoted to investing in the latest technology, working on projects that require the company to push boundaries, and remain on the forefront of technological advancements. The company has a history of "firsts," including being the first to use electric discharge machining technology (EDM), as well as the first to use five-axis milling, the most precise milling machines available.

Continuing to strengthen their commitment to innovation today, Faustson is the first Colorado manufacturer using 3D metal printing. According to the White House, less than 60% of small businesses are using 3D printing at all, while more than 75% of large firms are using 3D printing technology. Faustson's commitment to innovation puts them ahead of many manufacturers in their class.

In addition to executives from Faustson, the CEO of Manufacturer's Edge, Tom Bugnitz, attended the roundtable. As a Colorado non-profit, Manufacturer's Edge works with manufacturers to provide training, assessments, and other services to grow their businesses. One of their initiatives, Manufacturer's Connect Tool, specifically focuses on strengthening the supply chain by connecting companies to local suppliers.

The White House emphasizes the importance of having a collection of many small manufacturers across the county, a network of which Faustson Tools is a part. Moving forward, several White House initiatives will help make small manufacturing companies more competitive and forward-thinking, in order to make that network a reality.

Among the proposals is a new supply chain matching service facilitated by the Small Business Administration. Connecting small businesses with larger manufacturers who want to bring their supply chains to America will increase investment in the small businesses and stimulate economic growth. The White House also states that "the Departments of Energy, Defense, Commerce, and the Small Business Administration are helping more than 40,000 small manufacturers leverage federal innovation assets to upgrade their capabilities, adopt new technologies, and unlock new business opportunities."

For more information visit http://www.faustson.com, and use the hashtag #MadeInAmerica on social media to see more about the Supply Chain Innovation Roundtable.

About Faustson Tool

Faustson Tool, a worldwide leader in the machining industry, provides services for clients worldwide in the medical, aerospace, aeronautics, defense, semiconductor and other industries. The company, founded in 1982, provides 3-, 4- and 5-axis milling and 5-axis EDM services, as well as turning capabilities for cutting-edge custom part production, and efficient production of standard parts. Faustson Tool is woman owned and operated small business. For more information, visit http://www.faustson.com, email [email protected] or call (303) 420-7422.

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