Speed x Transformation
The strategy classic competing against time was first published 30 years ago. Despite the books age, its core corporate mantra of using speed as a strategic lever to carve out competitive advantage is kept well alive at Apple, with its CEO Tim Cook frequently distributing the book to his colleagues.
Given the volatility and pace of change facing many organisation and industry sectors today there is a high-need to eliminate waste, identify faster and more efficient ways of operating across the full value chain.
Here are 5 types of optimization/transformation trending right now (no order)
1. Functional Transformation
Over the past several years many organisations have initiated enterprise-wide transformation programs to optimize functional "back-end" processes, the related I.T systems and employee organisation who support. Examples include order-to-cash (Supply-Chain), record-to-report (Finance) and hire-to-retire (HR).
2. Product Development Transformation
Optimization of a company’s end-to-end product development process/es, systems and supporting people organization will directly improve commercial results and create competitive advantage. Develop and launch your innovative products and services to market faster than your competitors, enough said! Here are two cases, contact eutopos for details..
Global Top 5 food company develops and launches new products to market in just 4 months (Industry standard 15 months). Key enabler is straight out of the agile playbook “test-and-learn” rapid-concept and prototype testing, consumer research and price testing at shelf. Fast decisions, then optimize and improve, scale in highest velocity stores and finally a new product calendar like a fashion company.
Worlds largest clothing manufacturer/retailer operates in two gears, firstly the basics range executing to market in 9 months. The second gear is known as “fast fashion” which executes in an earth shattering 4 weeks! Sourcing materials from fixed suppliers who “block” capacity exclusively, guaranties for continuous capacity utilization, continuous development of suppliers and a multi-site manufacturing strategy.
3. Last Mile Transformations
The home delivery of anything and "quick-commerce" battleground is heating up as speed becomes the strategic weapon for 24 hour, on-demand goods delivered to your home. Pioneer DTC companies such as Amazon and Asos and the major grocery retailers will typically deliver in 1 to 2 days if delivery resources are available. However, there are several agile online grocery retailers are changing the game. Ocado Zoom (UK), Buymie x Lidl (Ire), Buymie x CO-OP (UK), Aldi x Deliveroo (UK&I) have network capability to deliver groceries in 1 hour, Gorilla’s (Eur & U.S), Glovo (Eur) deliver in 10 minutes. Further upstream there’s a series of driverless/robotic delivery solutions in test-and-learn mode Nuro, Starship, Eliport, Postmates x Serve, AutoX and shop to you model Robomart. Reaching regional locations, reverse logistics, lockers, sustainability and the technology capabilities, processes and people to support, the last mile for sure holds exciting opportunities!
4. Digital Transformations
Digital Transformations are a top corporate priority to ensure companies keep pace in this VUCA world. Upgrading old, slow IT systems to improve the dynamics and responsiveness to market trends and demands. Harnessing big data facilitates faster insights and accelerates data-driven decisions and business actions. One organisation winning with Digital is Nike with CEO John Donahoe citing that “Digital is fuelling how we create the future of retail.” Recently in China, Nike leveraged data from running apps YDK, Xiaomi and Yudong (used by 24 million runners) to launch their fastest runners yet Nike “Next%”. The data allowed targeting of the fastest runners (men <4:55m/km, women <5:40m/km) to purchase the “Next%” Nike’s and leverage of the running community app Joyrun to further stir interest of the Next% Nike’s across slower paced running groups. The launch was successful, positive results in all key metrics: runner engagement, purchase desire and sales. For Nike the future of retail looks bright.
5. Agile Transformations
“Agility” is more frequently on the lips of today’s senior leaders, however as a senior executive you understand what agile is and the benefits, though how do you intrinsically institutionalise it into your organisation’s values, culture, mindset and ways-of-working? How do you make it work at scale across an organisation in driving higher value, better business results? Many organisations from different sectors are hiring coaches, scrum masters and supporting resources to initiate multi-year program roadmaps to embed agile successfully to realize the many benefits.
Hit the Agility button for your Business! eutopos consulting leverages international experience and industry best-practice frameworks to optimize and ignite your value chain to ensure that you transform your trajectory.
Make contact today contact@eutopos.co