Our Innovation Customers Achieve Great Results

Innovation Management Customer Success Story

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Digitizing Innovation for the Largest US Steel Company

Nucor Steel is an American steel manufacturer known for its innovative and efficient production processes. With a focus on electric arc furnaces and recycling scrap metal, Nucor Steel has become a leading producer of high-quality steel products, consistently adapting to market demands while prioritizing sustainability.

The Challenge

Establish an innovation function for the company that leverages best practice innovation processes and tools. Train and engage innovation services team to learn processes and use toolkit. Fill the front end of the funnel with disruptive opportunities that create new solutions and business models.

The Solution

Nucor engaged Praxie on a comprehensive multi-month process to assess its current innovation capabilities and build a simple yet robust innovation process. Working with the innovation services team, Praxie led a strategic innovation initiative that resulted in a portfolio of disruptive new growth opportunities. The approach built new skills in the team, established a best practice approach for scaling innovation, and generated a number of investment opportunities for growth.

The Value

  1. Best Practice Innovation Process
  2. Front-End Opportunity Funnel
  3. Team Skills & Capabilities

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Scott Russel, Manager, Innovation Services

“When the Vulcraft-Verco business unit of Nucor Steel decided to get serious about innovating, we discovered the Praxie team and their world-class methods and solutions. The Praxie team includes true innovation experts who provided insightful guidance and an organization and tracking platform that ensures a focused approach and more consistent results across all phases of our innovation process. We now have tools and procedures which help us to ideate, brainstorm, prototype, and pitch solutions to market opportunities that fit our culture and teammates. I would heartily recommend the Praxie team to any organization seeking to seriously undertake a lasting and successful innovation process.”

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