From designing t-shirts and developing drugs to solving technical challenges and creating new products, open innovation is a philosophy and set of strategies that have been successfully adopted by numerous industries.
We can also add the beef industry to the list as it’s now looking at new ways to expand innovation practices and better serve customers, by reaching out to others.
Novus International Inc., an animal health and nutrition company recently hosted its Global Beef Roundtable in the western United States. The meeting was attended by more than 20 beef industry representatives from the US, Brazil, Mexico and Australia.
“We don’t want to restrict where good ideas come from, even if they are from outside our walls,” said Jim Gerardot, Novus Executive Director, and Global Marketing.
“We recognize the value in perspectives outside Novus, and in the spirit of ‘open innovation’ we want to affiliate ourselves with others who are knowledgeable about the businesses we want to grow in.”
The key discussion points between customers and industry leaders at the meeting were based around market needs and future opportunities.
Novus believes that opportunities are going to come from working closely with customers and prospective customers. To maximize the opportunities that open innovation affords it will approach product and solution development with both internal and external inputs.
Open innovation does not mean ignoring internal resources, and numerous parties within the beef industry are keen to see how those within and those without can work together to discover and develop new ideas.