Change is not limited to drivers from within the organization. Today’s fast-paced, ever-moving world has created tremendous opportunities for companies to completely reinvent themselves and to discover new customers, new markets, new products, new fulfillment methods, and other new ways of operating. With any major initiative comes the chance to dramatically change how a business operates to become more relevant in the market and more successful. This rapidly evolving world and its transformational opportunities must be proactively addressed by understanding and embracing the essential value of organizational change.
Retail and CPG organizations should no longer operate the way they did five years ago. The COVID-19 pandemic and surrounding disruptions were certainly wake-up calls for most companies, pushing them far beyond traditional comfort levels. While discussed frequently pre-pandemic, retail and CPG companies are now starting to migrate away from their former siloed models towards much more collaborative structures. But there is still much work to do.
The increasing customer-centric movement means no longer being product-focused, and this has wide-ranging implications for marketing, operations, and merchandising departments. New supply chain models that are much more collaborative and have stronger supplier-retailer partnerships impact how distribution, warehousing, and logistics teams operate. New technologies like artificial intelligence, machine learning, and augmented reality are pushing retailers to embrace vastly different ways of operating. Many of these innovations are no longer futuristic; indeed, they are becoming table stake enablers of competitive capabilities.
All these changes to the retail and consumer goods industries mean redesigning business processes, roles, and responsibilities; clearly communicating the new processes and relationships; and implementing well-designed, ample learning programs to help companies embrace the transformation and achieve the expected benefits.