According to futurist Nancy Giordano, the retail supply chain is currently in a "liminal gap," as old systems of operating break down but new systems have yet to be solidified. A whole host of new technologies—from artificial intelligence to robotics and drones to quantum computing—are converging in a way that will radical reshape an industry that has already experienced so many radical changes.
"Retail will change more in the next five years than in the past 50," Giordano predicted during the opening keynote address of the Retail Industry Leaders Association (RILA) LINK2020 supply chain conference.
How can companies survive in this time of vulnerability, uncertainty, complexity, and ambiguity? The following are just a few of the strategies that Giordano offered:
Creating this culture of experimentation, curiosity, and innovation is important she said, because incremental improvements and changes are no longer sufficient. "A 10% shift is not going to cut it," she said. "You need to be braver, bolder, and more audacious."