Risk Management in Retail and the Consumer Goods Industry
In retail and the consumer goods industry, digitization has introduced the chance of selling individual products via central platforms both cost- and time-efficiently and suitable for mass markets. Risk management can only take up the inherent effects of digital transformation on a business model, if it reaches a new evolutionary stage. The future is fraught with new risks a modern risk manager must identify and manage. Consequently, it is not only the business model that must undergo a digital transformation but also risk management. The following contribution uses a practical example to illustrate why a performance-oriented risk management in retail and the consumer goods industry is necessary. Furthermore, it shows how intelligent algorithms are contributing to an improved risk intelligence in order to identify specific risks like changes in consumer behavior or trend environment.