MAY 2018CIOAPPLICATIONS.COM8n today's "VUCA world"­a world that is Volatile, Uncertain, Complex and Ambiguous ­ anticipating what will be the next major disruption to your industry can seem difficult, if not impossible. And while some industries' pace of disruptions are inherently accelerated, such as Tech, even the most traditional industries have had to adjust to the new norm of significant disruptions regularly changing the way we do business. Food & Beverage ("F&B") is one such industry.At Johnsonville, we classify disruptors into three (3) groups:· Internal-situations that occur within an organization over which leadership has the power to impact or control· External & Known-situations that occur outside an organization and its control, but which can be defined and war-gamed· External & Emerging-situations that are currently emerging and taking shape, only giving hints as to how they may ultimately disrupt industries and businessesWhile all three types of disruptors can seriously impact an organization's operations and financial health, it is the `External & Emerging' disruptors that I believe can have the most profound effects on an organization's long-term viability when not proactively addressed. The action or, in most cases, inaction that an organization takes to fully grasp the implications of such disruptors on its current operations, customer base and talent pool is what separates a cutting-edge forward-thinking organization from the rest of the pack.The F&B industry is off to another exciting year that will inevitably be filled with some unforeseen twists and turns. However, after evaluating the various forces at play, I've identified three main `External & Emerging' disruptors that I believe will affect the way we think about and approach innovation in F&B in 2018 and beyond. The thematic glue that holds these disruptors together is the "Democracy of Access"; by this, I mean that today, nearly all consumers have unprecedented access to hyper-customized products, shopping technology and information to make their lives better. Disruptor #1: Unprecedented Access to Hyper-Customized Products· Meal Kits: Meal Kits address many unmet consumer needs, but online providers are having difficulty retaining subscribers. This has opened up the door for retailers and brands to more efficiently and effectively deliver on consumers' desire for convenience and freshness. Example: Albertson's acquisition of Plated gives consumers the ability to choose which purchase method best meets their needs­traditional brick & mortar, eCommerce or subscription model. · Products with an `It Factor': In a quest for such products, Big Food companies have invested in and launched their own incubators and accelerators supporting emerging food startups. Moreover, they're placing even bigger bets via large investments and acquisitions in proven startups. Example: Cargill's investment in lab-grown clean meat manufacturer, Memphis Meats, is the first by a traditional meat company.· "Microbenefit" Foods: Companies are jumping on the personalization Disruption in the Food & Beverage IndustryANDRIA LONG, VP INNOVATION & CONSUMER INSIGHTS, JOHNSONVILLE SAUSAGEIin my view
< Page 7 | Page 9 >