38 min listen
Accelerating Innovation in Turbulent Times with Guest Tim Simmons, Chief Product Officer at Sam's Club
Accelerating Innovation in Turbulent Times with Guest Tim Simmons, Chief Product Officer at Sam's Club
ratings:
Length:
41 minutes
Released:
Sep 27, 2022
Format:
Podcast episode
Description
We're recording live this week from the just wrapped GroceryShop conference in Las Vegas.Our guest this week is Tim Simmons, SVP & Chief Product Officer of Sam's Club, who takes us deep into the transformation process that he's been helping lead. We learn how Walmart and Sam's Club have been evolving and accelerating the pace of innovation. It's a Master Class on how to embed a culture of experimentation and the role of design thinking and agile methodology. We also learn what "The 5 Why's" and "low fidelity prototyping" are all about and how they are making a real difference at Sam's. We close on the critical role of executive leadership in driving the innovation agenda--turns out "Scooby snacks" might be the key.But first we share our top take-aways from the conference before diving into our hot-takes on the latest retail news, including what a big jump in interest rates means for retail. But Walmart and Target say "damn the torpedoes, full speed ahead" when it comes to holiday hiring plans. Then it's thoughts and prayers time for JC Penney as they revel more details about their turnaround plans. We raise questions around Wegman's decision to bail on "scan-and go" before returning to the Wobbly Unicorn Corner to discuss Stitch Fix's earnings whiff and the potential acquisition of Purple. About TimTim serves as the Senior Vice President and Chief Product Officer at Sam’s Club. In this role, he oversees product management, operations transformation, and the user experience across omnichannel commerce, digital in-club experiences, supply chain, merchandising, and more. Tim joined Sam’s Club in 2015 and has worked in various areas of the business including Membership and Marketing, Operations Transformation and In-Club Product Management and Fulfillment before taking on his current role in 2021.Before joining Sam’s Club, he spent more than 15 years working largely in professional services, doing advertising and consulting for companies such as MRM/McCann, RAPP, Peppers & Rogers Group and Ernst & Young. During this time, he worked with clients across numerous industries including technology, retail, oil and gas, entrainment, travel, food services and health care to help generate growth, increase market share, and provide measurable impact.Tim has an Associate of Arts degree from Snow College, a Bachelor of Arts degree from Brigham Young University, and an MBA and Masters of International Studies from the Marriott School of Management at Brigham Young University.About UsSteve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global E-Commerce Tech Talks , The Food Professor with Dr. Sylvain Charlebois and now in its second season, Conversations with CommerceNext! You can learn more about Michael here or on LinkedIn. Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue, his YouTube BBQ cooking channel!
Released:
Sep 27, 2022
Format:
Podcast episode
Titles in the series (100)
Challengers of the Status Quo with Coresight Research's CEO & Founder Deborah Weinswig: EPISODE SUMMARY Why do so many companies defend the status quo even when it becomes increasingly obvious that their business model is losing customer relevance and remarkability? Why do others think they can cost cut and store close their way to prosperity? In this episode we look at the roots causes of how and why retailers sink into irrelevance and risk a mass extinction event. Then we flip these questions on their head to explore ways to defy conventional wisdom and create a culture of experimentation. Along the way we touch on why "the opposite is risky" and why quitting is often underrated (hint: it has to do with understanding opportunity cost). Nordstrom's Local strategy gets a shout-out, as does Apple's new Express concept. We also dub JC Penney the "world's second longest liquidation sale." Our special guest is Deborah Weinswig, one of retail's leading analysts and thought leaders, and the by Remarkable Retail