The world of retail has undergone a massive disruption in the last few years. In the fast-changing and challenging environment that the pandemic created, retail companies have had to react to the changing dynamics of customer behavior, evolving market forces, a non-traditional workforce, and above all systemic change brought about by new technologies, startup disruption, and a huge infusion of funds to invest in the latest that technology has to offer. While most retailers were quick to embrace new technologies, and change their strategy and business models, many of them were slow to revamp their operating models.
To make a transformation successful, organizations need to align their strategies with business realities that call for changes in operating models. This article explores the core components of an agile, resilient, and future-ready technology operating model for retail.