BXP - Vol 3 No 4 May/June 2019 - A12

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capabilities, learning how to form various types of alliances

There are a few emerging truths in the smart packaging

to quickly add and drop critical assets and capabilities. Not

arena. First, the upside potential is large, as smart packaging

only must smart packaging participants be nimble with their

is poised to solve numerous weighty business issues from

external assets, they need to be agile in configuring their

product spoilage to customer satisfaction and retention.

internal innovation assets as well. Smart packaging will involve agile innovation techniques-developing ideas, rapidly

Second, smart packaging is organizing around a set of nine

forming teams, jury-rigging prototypes, market-testing them,

broad applications, which are arriving in waves; supply chain

seeing what works, and iterating.

efficiency is leading the charge, followed closely by product integrity and user experience. Third, participants in the

IN SUMMARY

traditional packaging space ignore smart packaging at their

Not surprisingly, customer-facing solutions are highly complex

peril since the downside of missing out could be disruption

and possess at least as many, if not more, challenges than

of their existing business model-and irrelevance. Lastly,

supply chain solutions. However, once these challenges have

to capture the rewards and avoid irrelevance, participants

been resolved, a boom in investment could be forthcoming

should be bold and creative, particularly with branded goods.

and-when it does-this area could see exponential growth.

Bold plays and new business models are a virtual certainty in
the data-enabled world of smart packaging. x

ABOUT THE AUTHORS
Mike Armstrong is a managing director in

Daniel Herrmann is a senior manager in

Monitor Deloitte, the strategy practice of

Monitor Deloitte's customer strategy and

Deloitte Consulting LLP, and leads strategy

applied design practice. He has more

and analytics for the industrial products

than 12 years of experience developing

and construction sectors. Prior to joining

profitable growth strategies, particularly

Deloitte, he was a partner at the Monitor

using the GrowthPath methodology.

Group. Armstrong focuses on corporate

Over the last five years, he has focused

strategy, business unit strategy, and mergers-and-acquisitions

on addressing sales, marketing and innovation challenges,

strategy across a range of industries, with emphasis on man-

and developing the supporting organizational capabilities to

ufacturing and industrial products. Armstrong lives in Boston.

sustain them. Herrmann lives in Atlanta. He can be reached at

He can be reached at mikearmstrong@deloitte.com

dherrmann@deloitte.com

Francesco Fazio is a principal with Doblin,

Carli Hetland is a manager in Deloitte

the innovation practice of Deloitte Con-

Consulting LLP's customer and marketing

sulting LLP. He has more than 15 years of

offering. She has more than 10 years of

experience in helping companies conceive,

experience in helping organizations design

create prototypes and launch transforma-

growth strategies and scale new innova-

tive innovations as well as become better

tions. Hetland lives in New York City. She

innovators in complex business-to-business

can be reached at chetland@deloitte.com

environments. He has served clients primarily in the manufacturing sector, with a focus on North America, but has significant experience in Asia, Europe and the Middle East. Fazio
lives in Chicago. He can be reached at ffazio@deloitte.com
ABOUT DELOITTE INSIGHTS
Deloitte Insights publishes original articles, reports and peri-

that of coauthors in academia and business, to advance the

odicals that provide insights for businesses, the public sector

conversation on a broad spectrum of topics of interest to

and NGOs. Its goal is to draw upon research and experience

executives and government leaders. Deloitte Insights is an

from throughout its professional services organization, and

imprint of Deloitte Development LLC.

MAY/JUNE 2019

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BXP - Vol 3 No 4 May/June 2019

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