ASSET is a National Reinvention Laboratory initiated in 1994 by Oklahoma State University to address Department of Defense (DOD) procurement problems. ASSET is a government-academic-business partnership. Current principal  partners include the Defense Logistics Agency, Oklahoma City Air Logistics Center, Oklahoma State University, Knowledge Base Engineering, Mercer Engineering Research Center and Sverdrup Technologies Inc. ASSET technology development, insertion activities and virtual manufacturing capabilities have resulted in grouped parts databases, parts-demand forecasting models, parts-on-demand manufacturing, new materials technologies for ceramic bearings, new processes for reducing corrosion of aging systems, and new training materials. The technologies and processes developed in the ASSET program increase the DOD supply base, reduce the time and cost associated with parts procurement, and enhance military readiness.