Growth is on the agenda for businesses across sectors—even as market volatility remains at an all-time high. In light of the growing competition and rising costs in an increasingly complex business environment, it is now more important than ever for retailers to create a seamless organization that drives innovation and engages customers. However, gaining the agility to compete in this industry is not a one-time exercise, and it is not just about reducing costs. Success comes from reinvesting those savings in improving customer experiences, which will, in turn, drive competitive advantage and growth.
Retail companies can gain the agility to compete by taking the following steps:
Creating a more efficient operating model that frees up resources to invest in growth
Embedding process excellence throughout the organization to drive effectiveness
Building leading-edge capabilities to differentiate from competitors