Walmart’s supply chain strategy is considered the dominant force behind its success. But here’s how this is good news for you too. With $32 billion holdings in its inventory and over 10,500 stores worldwide, this retail giant’s scale of operations makes it a good fit for a multitude of B2B products and services.
Here’s a prime example of this: Walmart shares its inventory data with manufacturers and suppliers to achieve better stock levels in the retail stores. And this process has been further refined for efficiency with an automated re-ordering system that utilizes satellite communication to inform P&G companies whenever an item is needed. Smart systems like these tell us that businesses like Walmart require scalable, robust, and resilient systems that support operations across the spectrum – be it the supply chain, warehousing, distribution or financial operations.
The question is: where do you fit in?
With a sea of potential like this, an SDR researching the possibilities can often feel like they are floundering instead of quickly zeroing in on certain, tangible opportunities. And this is where account intelligence services like B2Brain can really help pinpoint your focus.
But first, who should research Walmart?
SDRs that handle:
– Supply chain and logistics solutions
– Procurement solutions
– Inventory and warehouse management products
If you rep one of these products or services, you need insights from Walmart’s strategies that show the efficiency of your product. And of course, you must use those to significantly improve your pitch.
This is why B2Brain has put together a bespoke report on Walmart’s Supply chain ops for 2022 to 2023:
Cross-docking techniques have been incorporated at Walmart warehouses to facilitate freight entering distribution centers to conveyor belts that direct them to trailers delivered to individual stores. This means lower space requirements and storage costs.
There is also a consolidation system that helps with the breakdown of large shipments in one region resulting in the dispersal of products across other distribution centers.
This ensures that truckloads are fuller to cut down the transportation costs.
Walmart usually deals directly with manufacturers to eliminate the middleman. This apart, given its ever-growing profit margins the company has also gained itself a high bargaining power and can demand wholesale prices from the manufacturers.
By 2030, Walmart’s Project Gigaton plans to reduce 1Bn Metric Tons of supply chain greenhouse gas emissions. This will go a long way toward contributing to a cleaner environment as a supply chain often makes up more than 90% of total emissions for any company producing a physical product. (Source: Supply Chain Dive)
Walmart uses innovative tech to save costs and vastly improve efficiency. This includes:
– Smart tags that help Walmart associates track the inventory
– Radio Frequency Identification (RFID) to improve the operations of logistics
– A database which improves communication, stocking requests, and forecasting with suppliers
– An App for Walmart store managers to minimize backroom tasks
– Warehouse automation in distribution centers includes deploying autonomous robots
If all this isn’t impressive enough, here’s one you might not have seen coming. Over the past six years, Walmart has gone from a handful of in-house data scientists to hundreds, according to Srini Venkatesan EVP, US Omni Tech at Walmart Global Tech. These data scientists look at supply chain forecasting, labor/demand planning and optimization; search and personalization; in addition to emerging technologies. “We are really spending a lot on internal development because we feel this is our competitive secret sauce, ” he told VentureBeat. (Source: VentureBeat)
AI for customer satisfaction
This requires a separate section because enhancing shopping searches, inventory and ‘fitting room tech’ apart, Walmart recently announced it will open four next-generation fulfillment centers (FCs). This is slated to happen over the next three years. The first will debut this summer in Joliet, Illinois. These FCs will use robotics and machine learning to speed up fulfillment. According to the company, combined with its traditional fulfillment centers, Walmart will now be able to reach 95% of the U.S. population with next- or two-day shipping. (Source: VentureBeat) The future is here all right. And making your customer happy continues to be the key to explosive growth. If Walmart sat down for a meeting with you after reading this – would you know how to make them an offer they couldn’t refuse?
Want more Walmart insights tailored to your product?
To get to the perfect pitch, insights are not enough. And to convert a prospect, you need a lot more. You need latest insights, the right decision-makers and their contact info, talking points that help your product be relevant. B2Brain delivers all of this (and more) in a neatly packed format right to your CRM.
How would you like to use insights from Walmart’s 92-page 2022 annual report to fine tune your pitch for Ashraf or Jason?
Want to give this a try? Sign up for B2Brain’s free trial here.