Co-creation is a business strategy that focuses on customer interaction for joint innovation of new products. Alcatel-Lucent's Wireless business has adopted co-creation: bringing customers directly into our R&D facilities to partner with us to develop new products for their networks. Co-creation has many benefits and challenges. Early and frequent feedback from customers from ideation through production is a key benefit. Managing intellectual property rights, export control and legal requirements in different countries are some of the challenges.
In this talk, we'll walk through the process of co-creation, looking at two models. The first is an arms-length model that enables customer interaction, however in a limited way. The second is a model where engineering teams from the customer and the supplier work side-by-side everyday, creating and innovating together.
We'll take a close look at the benefits and challenges of co-creation, describing some of our real-world experiences co-creating on telecom products. This is an opportunity to explore new ways of engaging your customers, creating an innovation partnership which offers early value creation for both customers and their suppliers.