Nordson Corporation

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NASDAQ $123.22   +0.00

Innovation

Our innovative spirit propels new approaches in our products, processes and services. Innovation is part of our overall Corporate Responsibility & Sustainability strategy.  


Innovation

Overview 

We are driven by our innovative spirit to develop new approaches to our products, processes and services. Investing in technology, research and development is essential to our delivery of superior products that are designed to anticipate our customer needs and drive organic growth in new markets. 

Our Process

All Nordson Corporation leaders are evaluated annually for their competency in “Championing Innovation and Change.” Behaviors we encourage and develop include: 

Championing new initiatives within and beyond the scope of one’s own job;
Encouraging innovation and creativity;
Challenging "the way it has always been done";
Exhibiting good judgment about which creative ideas and suggestions will work;
Promoting new ideas and taking educated risks to create value for the business;
Creating an environment for open discussion and learning from mistakes; and,
Embracing change and working with people and their resistance to change.

Eric Nord






“My hope for Nordson is that we continue to be a venturesome company, operating somewhere out on the leading edge…we must encourage innovators and entrepreneurs.”   


- Nordson co-founder Eric Nord






We take a distinctive approach to our annual research and development spend, allocating funds among four key areas: Technology Development, Product Development, Sustaining Engineering and Customer Engineering.

Our Ideation to Commercialization process supports organic growth through the development of innovative, highly valued, differentiated products. For new product development, we use a methodology called nVision. This process leverages best practices in three methodologies: Phase-Gate, Lean Product Development and Six Sigma. The Phase-Gate process is an industry standard for project management of new products; Lean Product Development is based on minimizing waste and standardizing workflow; and Six Sigma uses data to identify and eliminate defects. The nVision process ensures that we can be selective of our suppliers and that we maintain global, precise and effective standards during the product development phase.

Collaborations

Nordson strategically partners with Case Western Reserve University in Cleveland, Ohio, The University of California, San Diego, and Georgia Institute of Technology in Atlanta, Georgia, to collaborate on research as well as offer internship programs for students. This research spurs engineering ideas for new projects and unique approaches to development while moving our Ideation to Commercialization KPI forward and providing valuable experience to students.   

In addition, the Company participates in venture investments, partnering with companies around the world for innovation and new product development.
We also maintain deep and long-term relationships with end-use customers, original equipment manufacturers, material suppliers (adhesives, coatings, paints, sealants etc.) and relevant industry associations.

Performance 


In 2016, we invested approximately $46.2 million, or three percent of total revenue, into research and development. As a technology-based company, we consider new product development a differentiating capability, and our success in measuring the output of this capability drives continuous improvement in this area. In 2018, we plan to introduce a new Key Performance Indicator (KPI) across Nordson: Sales from New Products. This KPI will measure revenue attributable to new products developed within the three most recent fiscal years. We aspire to exceed the expected pace of innovation in our markets, and measuring the commercial success of our new development effort will help us achieve this. Moving forward, we intend to broaden our definition of innovation beyond products to include innovation in our business model and processes. 
In addition, we track intellectual property portfolios which include valuable patents, trade secrets, know-how, domain names, trademarks and trade names. We continue to apply for and obtain patent protection for new products on an ongoing basis.

 2016 Patents*

2016 Patents
*As of October 31, 2016. There is no assurance that any patent application will be issued.


Pro BlueProBlue Liberty ATS

Aimed at the global packaging market, this innovative product combines the benefits of a tank-less adhesive dispensing system with an integrated flow meter (patent pending) which continuously tracks per package adhesive use. Customers can monitor adhesive consumption in real time and download historical data for analysis, giving them the tools to virtually eliminate all waste.
 





InnovatorsInnovator Awards


Every year, we recognize innovative employees from across our three operating segments with a series of regional patent award ceremonies. In 2016, 99 employees were recognized as innovation award winners at events in Carlsbad, California, East Providence, Rhode Island, Atlanta, Georgia and Amherst, Ohio.