The Krebs cycle and the electron transfer chain cant take place so pyruvate builds up in the cell.
NADH reacts with pyruvate to produce NAD and lactate.
If NAD wasn’t regenerated, glycolysis would stop because there would be no NAD available to accept electrons and protons in glycolysis.
If lactate accumulates in muscles it lowers the pH. The lactate is removed to the liver and converted to glycogen because build ups of lactate causes muscle cramps.
In plants pyruvate loses a molecule of CO2, the pyruvate also accepts hydrogen from reduced NAD to produce ethanol.