BIC ANNOUNCES ORGANIZATIONAL REVIEW TO INCREASE OPERATIONAL EFFECTIVENESS AND SUPPORT LONG-TERM PROFITABLE GROWTH
To build on BIC's history of success and to meet the rapidly-evolving needs of consumers globally, BIC Group is committed to becoming more agile, productive, and consumer-centric. While our mass production capability, brand equity, and international footprint remain core strengths, an enhanced entrepreneurial and innovative approach to operations will further our performance. Creating value for all stakeholders also requires that the organization develop capabilities that fully leverage the power of the brand - not only in existing markets, channels, categories, and business models but also in new ones. Ultimately, driving productivity and increasing efficiency will free up resources to reinvest in future growth.
BIC is, therefore, initiating a review to increase operational performance. We will:
- Advance our global, flexible and cost-effective production model by optimizing procurement and other processes across our supply chain
- Strengthen our global brand leadership by innovating at the pace that our consumers evolve, based on real-time insight about their behaviors and needs
- Drive value growth by sharpening our commercial operations and developing 'Routes-to-Market' to become an omnichannel specialist
- Improve the effectiveness of our support functions -- specifically Finance, HR, and IT -- while expanding capability and fluidity of operations
- Support our talent development programs that enhance skills and capabilities across the organization.
A dedicated team is conducting a thorough review of our organization to develop an action plan that will make these goals a reality. We will share the outcomes of this review during the first quarter of 2019.
"We must reimagine BIC so that we are fully able to address today's challenges and opportunities, as well as tomorrow's. Being agile, integrated and innovative is a short-term pre-requisite for our future growth, sustained profitability and cash generation. I'm fully confident in the ability and engagement of our teams to put these foundational capabilities in place." Gonzalve Bich, BIC Chief Executive Officer