?? INFLATION MANAGEMENT PLAYBOOK (IMP) in 6 Steps

?? INFLATION MANAGEMENT PLAYBOOK (IMP) in 6 Steps {Infographic}

??? Is your company ready and qualified to manage rampant inflation?

• Here is more FREE strategic advice. Click "subscribe" to get it daily.

??? Few CEOs or C-Suite executives have any prior experience in effectively leading a company through an inflationary spike.

??? I've been there, done that:

• I was challenged by inflation and recession as a CIBC Bank executive -- both as a Comptroller and as a Corporate Lending Superintendent.
• I advised the governments of China and Canada on wage and price controls during high inflation.
• I have successfully tackled pricing (and other) issues as a Turnaround CEO and Strategy Consultant.

??? Following a well-established "Inflation Management Playbook" (IMP) Central Banks worldwide are now (albeit too late and too modestly) raising interest rates to temper demand. Even if they succeed, progress will now take time. Inflation is with us for quite a while yet. Are you ready?

??? In fact, companies need to adopt a "corporate turnaround" mindset now! And like central bankers, CEOs need an "Inflation Management Playbook" (IMP) strategy to address the following 6 issues.

?? 1. CREATE an INFLATION MANAGEMENT OFFICE (IMO)

??? Develop the Inflation Management Playbook (IMP) for your specific company.

??? Set a clear mandate and goals, communicated company-wide, for the IMO.

??? Empower the CFO to coordinate the IMO.

??? Select a team of C-Suite leaders (Finance, HR, Marketing, Supply Chain, Operations, IT) who have a bias for action.

??? Make it clear that decisions must often be taken in the face of uncertainty and that mistakes will occur.

??? Insist on a systematic, fact-based approach to transparently track execution, diagnose wins and losses, course correct, and learn.

?? 2. REDESIGN PRODUCT OFFERINGS

??? Rapidly redesign products and services.

??? Challenge specification orthodoxies.

??? Modify products out of necessity.

??? Promote private-label substitutes.

??? Redesign how you provide service.

?? 3. UPSKILL and RESKILL TALENT

??? Go beyond rethinking compensation and benefits.

??? Make your work model "sticky".

??? Upskill and rotate employees.

??? Find non-traditional and on-demand "latent" workers.

?? 4. DIGITIZE SUPPLY CHAIN

??? Make your entire supply chain visible in real time.

??? Identify and manage potential supply chain risks.

??? Make seamless end-to-end planning a top priority.

?? 5. TRANSFORM PROCUREMENT

??? Expand focus to “everything is in play.”

??? Invest in technology and process automation.

??? Rethink logistics and geographic sources.

??? Consider vertical integration.

??? Revise contracts based on current reality.

?? 6. RESET PRICES to BOOST CX

??? Adjust discounting and promotions.

??? Maximize non-price levers.

??? Use analytics to personalize pricing more effectively.

??? Communicate your value more effectively.

?? IN SUM

??? Everybody pays for inflation.

~ Customers pay in higher prices.

~ Suppliers pay when customers seek alternatives.

~ Shareholders pay to compete and stay viable.

??? Companies need to adopt a "corporate turnaround" mindset now! And like central bankers, CEOs need an "Inflation Management Playbook" (IMP) strategy

??? With the right IMP, a strong IMO, and dedicated action, CEOs will successfully manage the challenge and establish a new level of corporate resilience, no matter where prices move next.

?? If you need any help on this, I have much experience in corporate turnarounds, business reinventions, and inflation-fighting strategy. I can customize an effective IMP and IMO just for your company. Contact me.

(Source: Content much adapted from Mckinsey and based on my own past experience; Infographic is mine.)

???#SHARE?this?#FREE?#LinkedIn?#Newsletter?with your network.

??? Click?#Subscribe?to get this #LinkedIn #Newsletter daily.

??? LinkedIn notifies you when each issue is published; you never miss it.

??? There are already almost 4,000 Subscribers. Please join them.

??? Every issue is available here:?https://lnkd.in/dYCfkD73

???PLEASE?#FOLLOW?and/or Connect with me if you find my content of value.

???For?#STRATEGIC?#ADVISORY?on any aspect of?#BUSINESS, or for a?#KEYNOTE?#SPEAKING?engagement or?#EMPLOYEE?#CULTURE?#SEMINAR, please contact me. I guarantee 100% future-proof outcomes.

??? NOTE: I also offer a generous?#referral?#fee?to third parties. Check out my Profile here:?https://lnkd.in/eXZDWxZ

?

???#CHECK?#OUT?my latest book, "THINK FUTURE".

??? I guarantee you will get even MORE VALUE from my content if you read THINK FUTURE.

??? Don't say you can't afford it. You cannot afford *not* to buy it. A single page is worth the price! And right now it is 30% off ...

??? Don't miss it!??https://lnkd.in/g_SVVBV

?

#innovation?#technology?#future?#trends?#Metaverse?#AI?#AiFuture?#AiFuturist?#AiStrategist?#Quantum?#Computing?#QAI?#society?#economy?#leadership?#business?#management?#futureproof?#strategy?#strategist?#futurist?#futurism?#forecasts?#Keynote?#Speaker?#Seminars?#CEO?#CxO?#CFO?#CHRO?#HR?#IT?#CIO?#CISO?#CDO?#ML?#DL?#NLP?#apps?#IQ?#EQ?#emotionalintelligence?#psychology?#DQ?#Decency?#behavior?#employees?#culture?#EX?#jobs?#careers?#skills?#upskilling?#customers?#marketing?#sales?#retailing?#CX?#productivity?#ROI?#Digital?#DigiTransform?#transformation?#graphics?#infographic?#ThinkFuture?#IoT?#IIoT?#DEP?#Ecosystem?#Qubit?#QaaS?#Convergence?#Teleportation?#QKD?#Cybersecurity #supplychain #inflation #products #pricing