Retail / Executive Perspective
Published in Total Retail: Feb 11, 2021
The retail paradigm has been reset; the need for becoming an agile, adaptable, and intelligent enterprise has never been more important. While the recent disruption has brought new opportunities, it also exposes significant gaps in retailers’ capabilities. The need of the hour is to balance demand and availability while ensuring safe and contactless shopping.
The time is ripe for making bold moves. Retailers need to adopt an algorithmic and machine-first approach across their value chain to navigate challenges. This requires:
A unified enterprise approach towards building a robust organization based on the foundation of data insights
A unified value chain that cuts across organizational silos and clearly shows where and how to use algorithmic interventions within the value chain in retail
A unified ecosystem and a flexible operating model to move from being product-led to purpose-led
Only algorithmic retailers will be the custodian of the customer’s experience and can gain market share and drive sustained growth.
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