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LTPlabs: The INESC TEC spin-off born in 2015 that is growing 60% a year

It was born in a room on the third floor of the main building of INESC TEC. In the beginning of 2015, LTPlabs was established by three researchers and professors at FEUP: Pedro Amorim, Bernardo Almada-Lobo and Luís Guimarães. Teresa Bianchi de Aguiar, Pedro Campelo, Horácio Neri and João Alves, researchers at the Centre for Industrial Engineering and Management (CEGI) of INESC TEC, later joined the three founders in this adventure. Three years later, the spin-off moved to another building for the second time, now employing 25 LTPeers and growing 60% a year.

09th January 2018

What is the recipe for this success?

The management consulting company works with the aim of improving the performance of its clients in a significant and sustainable manner, using an analytic approach that is part of its DNA.

“We solve complex management problems, we improve decision-making processes and we make business environments more productive and efficient, working mainly in areas related to the supply chain, operations, marketing and sales”, explains Pedro Amorim, founding partner of LTPlabs and coordinator of the Centre for Industrial Engineering and Management (CEGI) of INESC TEC.

Another secret is the fact that LTPlabs provides recommendations that are customised in accordance with the business needs of every client, and that it employs innovative methodologies heavily based on mathematics. The spin-off also takes great care in explaining the reasons behind certain performance indicators and in easing and following the change towards new processes. “With more mathematics, more comfort in decision-making and better results”, says Pedro Amorim.

Furthermore, the individual quality of LTPeers is exceptional, with a very solid profile in terms of business processes, analytic methods (predictive and optimisation) and soft skills. LTPlabs employs the best students from the degrees in Engineering and Industrial Management of the Faculty of Engineering of the University of Porto, which is the degree with the third highest mark requirement on a national level, but also from Bioengineering, Computer Science and Mechanics.

What type of company does LTPlabs work with?

Since its creation, LTPlabs has had the good fortune and the audacity to work with big and demanding companies such as Sonae MC, Worten, Super Bock Group, Medlog, Colep, Cabelte, NOS or Symington. LTPlabs works in several markets: retail, consumer goods, transportation and logistics, manufacturing industry, among others.

The projects have usually tackled challenges of a tactical-strategic nature, such as supply chain design, integrated planning of production and distribution, focused promotional campaigns, workforce sizing and demand planning.

How was LTPlabs born?

In 2010, Pedro Amorim, who was then a researcher at CEGI, and who is now a coordinator of the Centre, Bernardo Almada-Lobo, who was then a coordinator of CEGI and who is now a Member of the Board of INESC TEC, and Luís Guimarães, senior researcher at CEGI, came up with the idea of creating custom solutions capable of tackling several issues related to the sizing, planning and scaling of resources with the help of more science. Back then, Pedro and Luís were PhD students and Bernardo was the supervisor.
“When we began advancing in the work, we realised that there was a hole in the market. There was a need to develop more sophisticated and effective processes for the industry. With that in mind, we allied our scientific vision to the needs of the business, focusing on what could be valuable for the company”, says Pedro Amorim.Fundadores LTPLabs

That is how the first work with the Super Bock Group (then Unicer) came about. The name itself is associated with that project - Long Term Planning. The initials have since been adapted to Long Term Partnership with the goal of reflecting the bond of trust and the path that LTPlabs has taken alongside the companies with which it works. The value of the approach was tested, still within the scope of INESC TEC, with regard to other sectors, such as the retail sector.

What does the future hold?

In the short term, LTPlabs will focus on reinforcing its Lisbon office, on consolidating its position in the Portuguese market and in taking advantage of opportunities in some of the markets in which its clients operate. According to Pedro Amorim, “there is yet much sea to sail, we must know how to invest our time in order to tackle every request that we receive”. The change of headquarters to a new building near the industrial area of Porto will allow consolidating growth and increasing responsiveness.

The INESC TEC spin-off has also just launched a new website: http://ltplabs.com/

The INESC TEC researchers mentioned in this news piece are associated with UP-FEUP.