Manufacturing

About 12 years ago, McCormick & Company, Inc. embarked on an initiative to develop close, collaborative relationships with a number of its retailers and national food wholesaler customers. This initiative evolved into its customer collaboration platform, which has allowed McCormick to develop formal vendor managed inventory relationships today, among many other unexpected benefits along its supply chain.

Most consumer goods companies have traditional R&D organizations that are driven by marketing and operations and completely focused on new product innovation. Yet, the word innovation has become more of a charter or strategic goal as companies strive to innovate in process areas across the business, even challenging fundamental business models. This months Straight Talk takes a look at how innovation can lead to success beyond product extensions and how new thinking can disrupt the status quo.