Your query is very broad. You could have given little background information like the nature of your industry, your finished product etc. Secondly, how old is your company and would you like to introduce the decentralisation across the board or would like to restrict to certain departments only? Whose powers will be decentralised? Because of decentralisation will someone get antagonised? What if that persons assumes the power through backdoor?
Decentralisation is good management initiative. However, decentralisation demands delegation of the powers. Delegation of the powers demand understanding first the capability of the juniors. If all along juniors were expected to be obedient in execution of the orders of top boss and all of a sudden if you decentralise, then will it create problems?
Before decentralisation, have you trained juniors on "Decision Making Skills"? How have you tested their their decision making capabilities? Is the length of service in your company the sole criteria for the decentralisation move?
Decentralisation cannot be the goal. It supposed to be the outcome of Leadership Development Programme (LDP). What initiatives has your company takes to develop the leaders? Again mere conducting training on leadership development is not sufficient. Lot of leadership training happens in the IT companies. But then not many leaders are actually developed. Classic example is of Infosys. Though they have Leadership Development Institute, they had to hire outsider for the position of CEO, not just once but twice!