Boardroom Journal Volume 10

Introduction Looking Back on aDecade of Boardroom The industry’s biggest challenges have changed significantly,but we’ve found ways to become more resilient — even with aglobal pandemic that left a lasting legacy. In 1849 French writer Jean-BaptisteAlphonse Karr wrote “plus ça change,plus c’est la même chose,” whichtranslates into English as “the morethings change, the more they stay thesame.” This phrase seems apropos asFMI and Oliver Wymanreflect on thepast 10 years of publishing Boardroom,with the revelation that many of thetopics we’ve covered over time haveremained just as relevant (thoughperhaps not exactly thesame). and make our businesses grow. Politicsis another largely constant influencethat is always in a state of flux, as we’veseen over the years when differentadministrations tackle matters like taxlaws, labor protections and food safetyin differentways. But along with the predictable,we’ve also experienced the entirelyunpredictable — like the COVID-19pandemic — which not only changedthe world overnight but also causedrepercussions we will experience foryears to come. We must only considerCOVID’s impact on the supply chain orthe acceleration of grocers’ omnichannelstrategies (as well as third-party deliverycompanies that entered the fray) to knowhow true this is. Through it all, we haveemerged in a more resilient position, andit’s our hope that the lessons learned inBoardroom have helped guide leadersin their journeys. As we think about howwe got here, let’s take a look back ona few of the key topics that framed thepast decade. After all, this is a consumer-facingindustry, and consumer behavioris instinctual and spontaneous onone hand, and in many ways entirelypredictable on the other. For those inthe business of selling groceries, supplychain connections, merchandisingand promotions, food safety andother operational issues remainfundamental. They are always there,and they are always changing. We’llalways need smart, enthusiastic, andadaptable talent capable of handlingthe consistency of change to run stores Leslie G. SarasinPresident and CEOFMI — The Food Industry Association Mike Matheis Global Industry Association, Civic andEconomic Organization Lead OliverWyman A Look Back at OurInaugural Edition by the FDA in November 2022, and isscheduled to be implemented by Jan.20, 2026. FMI maintains that this rulewill burden the entire food supplychain with lot-level traceability that webelieve is unworkable in the timeframeand manner FDA has outlined — andlikely cannot even be utilized effectivelyby FDA to improve food safety. WhileFMI has been working diligently withmembers to implement the rule bydeveloping a variety of resourcesagainst a three-pronged strategy toinclude legal, regulatory and legislativeconsiderations, we continue to pursuecritical changes through legislativeand regulatory efforts. We believe thisrule is reactive, and our commitmentto food safety has never wavered interms of advancing proactive foodsafety strategies that help protectpublic health. When we first published Boardroom,our intention was to offer a collection ofarticles with unique and timely insightsto help senior food retail executivesshape their strategies for success andimprove performance throughouttheir organizations. And of course, likeall things that change but remain thesame, that mission hasn’t changed, butit has adapted. In the first volume, we featured anarticle about “Finding the Next Sourceof Profitable Growth” in the low-margin grocery business. This remainsa concern that keeps retailers up atnight, although today we see companiesbranch out with new business modelslike retail media networks, whichallow them to partner with suppliersand reach consumers in new ways. Inanother piece in the inaugural issue,“Strategies to Survive,” the authorsexplored the ways online retailing wasallowing even small companies to reachlarger, more geographically diverseaudiences. This is another trend thathas expanded over the years, withthe more recent growth of direct-to-consumer models. Decade ofTech Innovation Nearly every edition of Boardroomhas covered online retailing in someform or fashion, which isn’t surprisingsince there’s a lot to learn about howto operate more profitable businesseswhile anticipating consumer groceryfulfillment needs. In 2015, we featuredadvice on “building your own click &collect offering,” as well as how to betterserve low-income consumers online. Ina more recent issue, we published oneof our more whimsically titled pieces,“Becoming Frenemies with DeliverySuper Apps,” marking the arrival ofthird-party companies that were a greathelp during the onslaught of onlineordering during the pandemic but havealso themselves become competitors. Food safety is another always-relevanttopic that was featured in both the firstBoardroom and in subsequent editions.In 2011, President Obama signed intolaw the Food Safety and ModernizationAct, but the majority of the newregulations didn’t take effect un