The client was involved in an industry that was dominated by one central processing and marketing business that was failing to invest in the long-term and driving prices below the cost of production to the determent of the entire industry. The client and industry needed to make use of innovation and a new business model to make it viable again.
The introduction of a new industry competitor that adopted a different mindset that begun by:
- Adopting existing industry research and picking up ideas that simply had not yet been implemented
- Partnering with both industry experts and others to create significant efficiency and sustaining innovations
The combination of those two activities allowed for:
- The elimination of a large proportion of the production process – reducing product damage and increasing production efficiencies and customer value
- A new way of transporting and drying the product that also reduced product damage – increasing production efficiencies, product differentiation and customer value
- The transfer of knowledge from other industries and adopting automation to improve processing efficiency and lower costs
- A dogged focus on quality improvement and product differentiation to secure premium prices
- The education of the market in respect to the product’s key points of difference and to drive market uptake
The combination of increased prices resulted in increased revenue and the efficiency improvements resulted in lower costs thereby returning profitability to sustainable levels and the industry to growth.