Introduction
Sam Walton, founder of Wal-Mart in rural Bentonville, Arkansas and was a business genius and a true visionary of retail and merchandising that revolutionized the way retailers operate. Sam opened up warehouse type stores by the name of Wal-Mart Discount City, which led to the development not known until the late 1980’s to late 1990’s of what and how big Wal-Mart would become. Wal-Mart became the world’s leading retailer by mastering the art of their very own supply chain through the way they purchase, distribute goods, track information and data to the point of origin, use of RFID, and it being able to keep inventory turned over by recording record sales growth; thus, all have ultimately played vital roles in Wal-Mart’s retail …show more content…
Wal-Mart’s number one advantage is its location in the rural Ozark mountains of Arkansas in the midsection of the country; thus, giving Wal-Mart a sharper edge as far as transporting its products to locations within the United States more efficiently and with great cost effectiveness helping it maintain its slogan, “everyday low prices.” According to Richard Ivey School of Business (2006), “Wal-Mart’s growth in the 1960’s -1980’s was in part from improved road infrastructure and the inability of its competitors to react to changes in legislation” (Johnson, 2006, p. 3). Sam, being able to buy bulk items and slash their prices made it possible for Wal-Mart to cut its prices beyond what its competitors could and in turn directly contributing to Wal-Mart’s …show more content…
Wal-Mart Is doing a lot of great stuff in the twenty-first century and must do more to stay on top of the retail industry. Wal-Mart as I discussed earlier is doing a really great job outsourcing, and tracking all its sales through its one of a kind database system that is truly the tip of its sword in its industry. I believe Wal-Mart is best at mastering its very own supply chain and is the sole reason why the retail giant is remaining at the top of its game and will remain on top for years to come. However, through my studies in order for Wal-Mart to remain on top is through one critical aspect and that is people; Wal-Mart must treat its people better and raise their pay and benefits in order to stay at the very top. Wal-Mart CEO Doug McMillon stated in an interview on CBS news (2014) by host Charlie Rose, “….we couldn’t run a good business if we don’t take care of people and have compensation plans that
Sam Walton, founder of Wal-Mart in rural Bentonville, Arkansas and was a business genius and a true visionary of retail and merchandising that revolutionized the way retailers operate. Sam opened up warehouse type stores by the name of Wal-Mart Discount City, which led to the development not known until the late 1980’s to late 1990’s of what and how big Wal-Mart would become. Wal-Mart became the world’s leading retailer by mastering the art of their very own supply chain through the way they purchase, distribute goods, track information and data to the point of origin, use of RFID, and it being able to keep inventory turned over by recording record sales growth; thus, all have ultimately played vital roles in Wal-Mart’s retail …show more content…
Wal-Mart’s number one advantage is its location in the rural Ozark mountains of Arkansas in the midsection of the country; thus, giving Wal-Mart a sharper edge as far as transporting its products to locations within the United States more efficiently and with great cost effectiveness helping it maintain its slogan, “everyday low prices.” According to Richard Ivey School of Business (2006), “Wal-Mart’s growth in the 1960’s -1980’s was in part from improved road infrastructure and the inability of its competitors to react to changes in legislation” (Johnson, 2006, p. 3). Sam, being able to buy bulk items and slash their prices made it possible for Wal-Mart to cut its prices beyond what its competitors could and in turn directly contributing to Wal-Mart’s …show more content…
Wal-Mart Is doing a lot of great stuff in the twenty-first century and must do more to stay on top of the retail industry. Wal-Mart as I discussed earlier is doing a really great job outsourcing, and tracking all its sales through its one of a kind database system that is truly the tip of its sword in its industry. I believe Wal-Mart is best at mastering its very own supply chain and is the sole reason why the retail giant is remaining at the top of its game and will remain on top for years to come. However, through my studies in order for Wal-Mart to remain on top is through one critical aspect and that is people; Wal-Mart must treat its people better and raise their pay and benefits in order to stay at the very top. Wal-Mart CEO Doug McMillon stated in an interview on CBS news (2014) by host Charlie Rose, “….we couldn’t run a good business if we don’t take care of people and have compensation plans that