Procter & Gamble Co. has licensed a proprietary technology for improving manufacturing efficiency to an undisclosed company -- and is exploring licensing opportunities for this technology with a range of other companies. The technology, called Reliability Engineering, has enabled P&G to realize significant savings in manufacturing costs over the past decade. It consists of a "toolbox" containing 23 ways to "overhaul" virtually any production line. The agreement is part of P&G's ongoing program to fully leverage its intellectual property. This includes licensing and selling select technologies that continue to provide substantial value to P&G as well as those that are no longer considered strategic.