Most businesses don’t survive incubation and the few that do often fail a few years after take-off. However, OSI Industries has for the past 100 years overcome numerous growth-impeding challenges as well as competition to emerge top among the world’s top meat producers and distributors.
Having started as a migrant-run butchery in Chicago, the meat distributor currently boasts of an established presence in 17 countries across the world where the company employees over 20,000 employees to run its 65 facilities. But how did the company survive for a century in this highly competitive market?
OSI Industries attributes most of its success to continued innovation in all its spheres of operation. To a large extent, this involves the adoption of cutting-edge technology in the processing and distribution of company products. The food processor first embraced used advanced technology as a method of cutting down on operating costs but sustained the idea of constantly evolving, technologically, as it impacted the company’s overall efficiency.
The food processor has faced numerous challenges that threatened the existence and sustainability of the OSI brand. These ranged from financial crisis to loss of critical markets, but its management has always found a way to overcome either. For instance, the company once lost a key meat supply deal with McDonalds. The company’s leadership under Otto’s Sons and its current CEO Sheldon Lavin found a way of recapturing and expanding this market tenfold.
Diversification and expansion
Surviving the competitive market and making to the list of top ten meat processors and distributors in the world also demanded that the company diversifies and expands operations. At first, OSI Industries would settle on a key market and lay down plans on how to establish new facilities and groundwork for market capture. However, competition would soon force the company to reconsider this expansionary technique and instead bank on acquiring already established brands in the new markets.
Apart from internal challenges like capital and technology, OSI Industries has also faced numerous other challenges inherent to the global meat market. However, it has withered them all and lived to celebrate a century since its start of operations as a corner butcher shop in downtown Chicago.
Their LinkedIn Profile: https://www.linkedin.com/company/osi-industries