Essay Sample on Walmart: World's Largest Retailer with Record Sales, Profitable Discounts

Paper Type:  Essay
Pages:  3
Wordcount:  724 Words
Date:  2023-01-20
Categories: 

Introduction

Over many years, Walmart is now the world's biggest retailer. It has the largest sales record in the world. It has the best inventory turnover. It operates on a profit discount. The past success of Walmart stocks is seen in sales history. It started as a regional retailer seller. It is now the world's largest business. It leads to supply chain management. Walmart has a strategic inventory program that helps the source for the products. The products are of a better price. The strategy ensures that suppliers and the service providers meet the demand and are quoting the best prices. It has good financial relationships with vendors and sellers. This ensures long-term purchases and reduced prices. Walmart has straight supply chain procedures that ensure good communication between the service providers and Walmart (Heller, F. (2017). These all are taken care of by a lower inventory. It is also made to monitor the movement of goods from the vendors to the warehouses and finally, the sales point. This makes the company function well.

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The suppliers have been supplying the products to Walmart's delivery midpoints. The products there are shipping, and then they are delivered to the stalls of Walmart., Shipping can make the transportation cost cheaper and even transportation time and removes inefficiencies. Another inventory practice of Walmart is based on technology.it has the principal statistics of the individual companies worldwide also it has the state of the art of technology and networks that are made to give Walmart exact forecast demand and can also get to know the inventory levels, it can also control the customer's relationship. Walmart's efforts on sourcing the supply chain to proceed without any risk are something that the company improved. The firm has mentioned the extension of a new inventory of delivering services that will be managed in New Orleans, Los Angeles and in Nashville (Barney, J. B. (2016). If the manager is effective, customers will ensure the transfer service moved to spread in municipal extents. Walmart currently has an effective chain administration scheme which in case it is not resistant to important changes over the past years. Walmart has created in the digital age apps that most people could understand by using inventory management. Walmart has created an app database called My Productivity, which was released in the year 2016. Walmart has also boycotted the use of the backroom stores to create a database and advanced technology which facilitates the supply chain management by putting the employees directly in the hand of work. People could use the app by just installing in their smartphones and make things happen for example use e-marketing procedures to acquire goods and information about certain products that could also be delivered whenever and wherever it is needed efficiently.

The technological advances by Walmart do not require one to either sign in or leave the platform to access the sales of the product and refresh the data. It has also taken the initiative of making sure that the store managers have the whole knowledge needed to operate with the system invented. It has put its employees on the front line to give better needs or services to the clients (Pagell, M., & Wu, 2017). The supply chain assisted in the boosting of the firm's production activity, created the inventory management to a state of good management and has given the employees a chance to market and sell more products. The Walmart's willingness to make a positive change on the supply chain management in the retail space has also created a suitable environment for sourcing or boosting the chain supply and has made it the huge retailer it is.

Its collaboration and the idea of working together is the most effective way that Walmart uses to make it possible for a developing chain supply to being recognized worldwide retailing example.

References

Barney, J. B. (2016). Purchasing, supply chain management and sustained competitive advantage: The relevance of resourcebased theory. Journal of supply chain management, 48(2), 3-6. Retrieved from https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1745-493X.2012.03265.x

Heller, F. (2017). Technological innovation applied to Walmart and Tesco's supply chain (Doctoral dissertation). Retrieved from http://run.unl.pt/handle/10362/28327

Pagell, M., & Wu, Z. (2017). Business implications of sustainability practices in supply chains. In Sustainable Supply Chains (pp. 339-353). Springer, Cham. Retrieved from https://link.springer.com/chapter/10.1007/978-3-319-29791-0_15

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Essay Sample on Walmart: World's Largest Retailer with Record Sales, Profitable Discounts. (2023, Jan 20). Retrieved from https://proessays.net/essays/essay-sample-on-walmart-worlds-largest-retailer-with-record-sales-profitable-discounts

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