Welcome to Boardroom Special Edition on how the food the industry can respond to COVID-19 from FMI and Oliver Wyman.
It is understood in communication circles that it takes seven pieces of good news to offset the effects of one negative report. Apparently, humans are simply hardwired to give bad news more emotional heft. That being the case, when the critical accounts of the effects of COVID-19 come crashing in – the nation’s health status, the jobs lost, the challenges to the food supply, and the uncertainty of what the future looks like – it’s easy to become overwhelmed in the daily bath of bad news. It is then that we must remember another truth about humans – we are often at our best when things are the worst. Challenging times produce their fair share of victims, but they also create a climate for heroes to emerge.
For the past few months you have been worrying about the safety of your employees and the resilience of your supply chains. You have ramped up your online ordering capabilities, and handled hundreds of other concerns that a scant six months ago would have been difficult to imagine. The strategic plans you set in January have been upended, but—and take a deep breath—there is still time to make some midsummer plans that can strengthen your business partnerships and lay out an adjusted strategic path forward.
The food retail industry’s vigor in responding to the on-going crisis has highlighted the resiliency and strength of grocery retail as never before. We are pleased to convene leaders together for the FMI Midsummer virtual event. The gathering provides an exclusive opportunity to strengthen the strategic course into 2021. With this gathering, we also bring together FMI and Oliver Wyman thought leadership for a special digital Boardroom Edition 5.5.
In it, we tackle tough pandemic-related issues like: the implications of changing consumer behaviors for the food industry, workforce and supply chain performance, disruptions and ultimately, recovery.
It is always an honor to be part of the food industry, but it is especially rewarding during times like these to be associated with such a noble group of trusted and action-oriented partners. We look forward to being continued resources to you, your teams and your businesses.
As the food industry association, FMI works with and on behalf of the entire industry to advance a safer, healthier and more efficient consumer food supply chain. FMI brings together a wide range of members across the value chain — from retailers that sell to consumers, to producers that supply food and other products, as well as the wide variety of companies providing critical services — to amplify the collective work of the industry. Read More
The Oliver Wyman COVID-19 Pandemic Navigator forecasts the number of new and cumulative coronavirus cases across nearly 40 countries, incorporating the effectiveness of containment and suppression measures.
It also provides insights into how to manage after the peak, as well as the ability to study potential future containment scenarios until a vaccine or a scale treatment solution is in place.
The Oliver Wyman COVID-19 Pandemic Navigator provides a quantitative basis on which governments, industry groups, and companies can examine the impact of COVID-19 on business, and consider how to “reopen” responsibly.
Read more
As part of the country’s critical infrastructure, the food industry is unique because most grocery stores and food producers remained open in the effort to ensure food was available as thousands of businesses were forced to close.Voice of the Food Industry Blog - FMI
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Read moreInsights How Are Consumers Shopping During The COVID-19 Outbreak? Oliver Wyman conducted two surveys over March and April to see how consumers globally have changed their shopping habits due to the health crisis. -
Read moreInsights Consumer Sentiment During The Pandemic As the coronavirus pandemic in the United States evolves from the acute phase to a “new normal,” shelter in place restrictions will be relaxed and businesses will start to reopen their retail locations. -
Read moreInsights Recession Is Back On The Table. Are You Ready? The New Year dawned with no sign of recession of the horizon.
COVID-19 hit and almost overnight the number of online shoppers soared. About 21 percent of Americans have tried online shopping for the first time since the beginning of the pandemic; 8 percent have returned; and 19 percent are continuing to online shop, most at deeper levels than before.Voice of the Food Industry Blog - FMI
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Read moreInsights Resetting Grocery The pandemic has challenged the grocery industry like no other. -
Read moreInsights Feeding A Nation Stuck At Home Food retailers have a chance to make meaningful connections with customers -
Read moreInsights Is The Surge in US Grocery Sales Here To Stay? It is no secret that the current COVID-19 pandemic has had far-reaching impacts on businesses, consumers, and society at large. -
Read moreInsights Six Things Retailers Should Do To Keep Calm And Carry On Responding to COVID-19 -
Read moreInsights Beat The Cost Curve Transforming the cost base of retail and consumer goods companies had become an absolute imperative. -
Read moreRetail Revenue Management In Consumer Goods
When it comes to the business of food and our greater marketplace, the COVID-19 pandemic has clearly upended the ordinary. Today, the meaning of normal seems to be like a goal post that keeps moving down the field.Voice of the Food Industry Blog - FMI
Requirements for a New Normal in the Food Supply Chain
by FMI
Feeding Assistance for Every Shopper
by FMI
Understanding Online Order Fulfillment Options
by FMI
Why We Need to Reform Card Not Present Transactions Sooner Rather Than Later
by FMI
Next Steps In Couponing
by FMI
Is Online SNAP Coming to My State? If so, can my company participate?
by FMI
Grocery’s Ecommerce Evolution during COVID-19
by FMI
Technology Demands Arising from COVID-19
by FMI
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Read moreInsights Boards Can Guide Businesses Through A Crisis Featured in MIT Sloan Management Review -
Read moreInsights The Coronavirus Rebound Now’s the time for company reorganization -
Read moreInsights Empowering Displaced Teams in the Time of COVID Lessons from humanitarian organizations -
Read moreInsights In a Downturn, Include Your Employees in Cost-Cutting Decisions Featured In Harvard Business Review -
Read moreInsights Taking Remote Collaboration To The Next Level Unlock the potential of people using co-creation -
Read moreInsights Shaping The New Normal The COVID-19 pandemic is changing life as we know it. There are few, if any, aspects of day-to-day life - how we socialize, travel, and work - that have in some way been altered for good or the foreseeable future. -
Read moreInsights Commercial Reset In Consumer Goods Ten Imperatives for Adapting Your P&L To New Realities -
Read moreInsights Three Ideas From The Military To Support The Response To Covid-19 The military can provide a few ideas on how organizations can maintain the agility required to succeed.
The food industry finds itself in a unique position in this national emergency to both nourish lives and provide for those looking for steady income, based on their own needs to hire workers. We’re witness to unprecedented labor challenges across foodservice, hospitality, travel/tourism and related sectors, and simultaneously, an unparalleled demand for grocery jobs.Voice of the Food Industry Blog - FMI
Related Insights
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Read moreJournals Boardroom Volume 5 The articles in this year’s volume offer unique and timely insights to help senior food industry executives shape strategies and improve organizational performance. -
Read moreJournals Boardroom Volume 4 Strategies for success in food retail -
Read moreJournals Boardroom Volume 3 Strategies for success in food retail -
Read moreJournals Boardroom Volume 2 Strategies for success in food retail