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《供应链系统设计与管理》课程教学资源(案例)1.1(a)WalMart SCM

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《供应链系统设计与管理》课程教学资源(案例)1.1(a)WalMart SCM
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WAL-MARTSSUPPLYCHAINMANAGEMENTPRACTICESOPER-O200ONotICFAIICMR CASE COLLECTIONCenter for Management ResearchThis case was written by P. Mohan Chandran, under the direction of Vivek Gupta, ICFAI Center for ManagementResearch(lCMR).ltis intendedtobeusedasabasisforclassdiscussionratherthantoillustrateeithereffectiveonineffectivehandlingofamanagement situation.Thecasewascompiledfrompublishedsources2003,ICFA/CenterforManagementResearch.Allrightsreserved.Nopartofthispublicationmaybereproduced,stored inretrievalsystem,usedinaspreadsheet,ortransmittedinanyformorbyanymeans-electronicormechanical,withoulpermission.Toordercopies,call009/-40.2343-0462/63/64orwritetoICFA/CenterforManagementResearch,Plot#49.NagarjunaHils,Hyderabad500082, India or emailicmr@icfai.org.Website: www.icmrindia.org

Do Not Copy  2003, ICFAI Center for Management Research. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic or mechanical, without permission. To order copies, call 0091-40-2343-0462/63/64 or write to ICFAI Center for Management Research, Plot # 49, Nagarjuna Hills, Hyderabad 500 082, India or email icmr@icfai.org. Website: www.icmrindia.org This case was written by P. Mohan Chandran, under the direction of Vivek Gupta, ICFAI Center for Management Research (ICMR). It is intended to be used as a basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. The case was compiled from published sources. WAL-MART'S SUPPLY CHAIN MANAGEMENT PRACTICES OPER - 020

ICFAIOPER/020prManagementReseaWAL-MART'S SUPPLY CHAIN MANAGEMENT PRACTICES"When you start to collapse the supply chain, accuracy in execution becomes critical. Any lack ofaccurate information and processes creates costlybottlenecks in theflowofgoodsand materials.--Bruce Richmond, Global head, Andersen Consulting.INTRODUCTIONTheUS-basedWal-MartrankedfirstintheglobalFortune500listinthefinancialyear2001-02earningrevenuesofs219.81billion(ReferTable1).Wal-MartwastheVargestretailingcompanyinthe world.Thecompanywas muchbiggerthan itscompetitersixtheUs-SearsRoebuck,K.Mart, JC Penney and Nordstrom combined (Refer Exhibit (I o02/Wal-Mart operated morethan 3,500 discount stores, Sam's Clubs and Supercenters in the 'S and more than 1,170 stores inall major countries across the world. The company (also sold)products on the Internet through itswebsite,walmart.com.TABLEIGLOBALFORTUNE500 LIST (2002)RankCompanyRevenues (in Smillions)A1Wal-Mart Stores219,812.02Exxon Mobil191,581.03GeneralMotors177,260.04Ford Motor162,412.05Enron138,718.0CSource:www.fertune.comWal-Mart was one of the largest private sector employers in the world, with employee strength ofapproximately 1.28 million.The company's founder, Sam Walton (Walton) had always focused onimproving sales, constantly reducing costs,adopting efficient distribution and logisticsmanagement systemsandusing innovativeinformationtechnology(IT)tools.According to analysts, Wal-Mart was able to achieve a leadership status (Refer Exhibit I) in theretail industrybecauseof its efficient supplychainmanagementpractices.CaptainVernonL.Beatty, aide-de-camp to the commander, Defense Supply Center, Columbus, Ohio said, “Supplychain management is moving the right items to the right customer at the right time by the mostefficientmeans.NoonedoesthatbetterthanWal-Mart."This case was written by P. Mohan Chandran, under the direction of Vivek Gupta, ICFAI Center for ManagementResearch (ICMR).2003CFACenteforManagemenResearchAllrighsreservedNoparfthispublicationmaybereproducedtorediretrievalsystem,usedinaspreadsheet,ortransmittedinanyformorbyanymeans-electronicormechanical,withoupermission.Toordercopies,call009/-40-2343-0462/63/64orwritetoICFA/CenterforManagementResearch,Plot#49.NagarjunaHills,Hyderabad500082,Indiaoremailicmr@icfai.org.Website:www.icmrindia.org

Do Not Copy This case was written by P. Mohan Chandran, under the direction of Vivek Gupta, ICFAI Center for Management Research (ICMR).  2003, ICFAI Center for Management Research. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic or mechanical, without permission. To order copies, call 0091-40-2343-0462/63/64 or write to ICFAI Center for Management Research, Plot # 49, Nagarjuna Hills, Hyderabad 500 082, India or email icmr@icfai.org. Website: www.icmrindia.org OPER/020 WAL-MART'S SUPPLY CHAIN MANAGEMENT PRACTICES “When you start to collapse the supply chain, accuracy in execution becomes critical. Any lack of accurate information and processes creates costly bottlenecks in the flow of goods and materials.” - Bruce Richmond, Global head, Andersen Consulting. INTRODUCTION The US-based Wal-Mart ranked first in the global Fortune 500 list in the financial year 2001-02 earning revenues of $219.81 billion (Refer Table I). Wal-Mart was the largest retailing company in the world. The company was much bigger than its competitors in the US – Sears Roebuck, K￾Mart, JC Penney and Nordstrom combined (Refer Exhibit I). In 2002, Wal-Mart operated more than 3,500 discount stores, Sam’s Clubs and Supercenters in the US and more than 1,170 stores in all major countries across the world. The company also sold products on the Internet through its website, walmart.com. TABLE I GLOBAL FORTUNE 500 LIST (2002) Rank Company Revenues (in $ millions) 1 Wal-Mart Stores 219,812.0 2 Exxon Mobil 191,581.0 3 General Motors 177,260.0 4 Ford Motor 162,412.0 5 Enron 138,718.0 Source: www.fortune.com Wal-Mart was one of the largest private sector employers in the world, with employee strength of approximately 1.28 million. The company’s founder, Sam Walton (Walton) had always focused on improving sales, constantly reducing costs, adopting efficient distribution and logistics management systems and using innovative information technology (IT) tools. According to analysts, Wal-Mart was able to achieve a leadership status ((Refer Exhibit II)) in the retail industry because of its efficient supply chain management practices. Captain Vernon L. Beatty, aide-de-camp to the commander, Defense Supply Center, Columbus, Ohio said, “Supply chain management is moving the right items to the right customer at the right time by the most efficient means. No one does that better than Wal-Mart

ICFAIWal-Mart'sSupplyChainManagementPracticesBACKGROUNDNOTEWalton was born in 1918atKingfisher, Oklahoma,US.AftergraduatingfromtheUniversity ofMissouri in 194o, Walton worked for the famous retailer, JC Penney.In his first job, Walton haddisplayed the qualities of a good salesman.He realized the importance of building loyalty amongcustomers as well as employees. In the mid 1940s, Walton gave up his job and decided to set uphis own retail store.He purchased a store franchise from Ben Franklin in Newport, Arkansas. Itwas herethat he learnt his first lessons in retailing-offering significant discounts on productprices to expand volumes and increase overall profits.The business was successful and WaltonsoonacquiredasecondstorewithinthreevearsWalton not only looked for opportunities to open stores in other small towns but also explored thepossibility of introducing innovative practices such as self-service.As the need for people tomanagehis stores increased,Waltontriedto attracttalented and experienced people fromothestores. By 1969, Walton had established 18 Wal-Mart stores, reportigg an annual sale of $44million. In mid 1970s, Wal-Mart acquired 16 Mohr-Value stores in Michigan and Ilinois. By thelate 1970s, the retail chain had established a pharmacy, an auto servidgcenter, and severaljewellery divisions.In the 1980s, Wal-Mart continued to grow rapidly due to the hugesustomer demand in smalltowns,wheremost of its stores were located.Commehting on thegrowth of Wal-Mart, Waltonsaid:When wearrived inthese smalltowns offerinlow priceseveryday,customer satisfactionguaranteed, and hours that were realistic for the way peoplewanted to shop, we passed right bythat old variety store competition, with its 45percentmark ups, limited selection and limitedhours."Wal-Mart stores were located at a conkenjent place in a big warehouse-type building andtargeted customers who bought merchandise in bulk,Customers could buy goods at wholesalepricesbybecomingmembersandpayinganeminaPmembershipfee.By1984,therewere640Wal-Mart stores in the US, generating sales 6f about $4.5 bn and accruing profit of over $200 mn.Wal-Mart suffered a setback in 1992.when Walton died after a prolonged illness.But it continuedits impressive growth in the 1996s,Focusing more on establishing its stores overseas. In 1992,Wal-Mart expanded its operations in Mexveo by entering into a joint venturewith Cifra.Two yearslater, the company acquired 122 Woolco Stores from Woolworth,Canada.By1997,Wal-Mart hadbecome the largest volume disQunt retailer in Canada and Mexico. In 1997, Wal-Mart acquiredthe 21-store German hypermarket cbain, Wertkauf.Other international expansion efforts includedthe purchase of BraziKan retailer Lojas Americans'40 percent interest in their joint venture, andthe acquisition of fourstoresayd additional sites inSouthKoreafrom KoreaMakro.In January1999,Wal-Martexpandedits/Germanoperationsbybuying74storesofthehypermarketchainInterspar. The stores were acquired from Spar Handels AG, which owned multiple retail formatsandwholesaleoperations throughout Germany.By 2002, Wal-Mart had emerged as the largest company in the world in terms of revenuesAnalysts felt that Wal-Mart had come a long way since1979,when the companygenerated annualrevenues of more than a billion dollar for the first time.By 1993, the company was doing a billiondollar business in a week and by 2001, it was crossing the billion dollar mark in every 1.5 daysAnalysts attributed thisphenomenal growthtoWal-Mart's continued focusoncustomerneeds andreducing costs through efficient supply chain managementpractices.The company was able toofferavast rangeof products atthelowest costs intheshortestpossibletime.Thiswaspossiblemainly due to two factors-Wal-Mart's highly automated distribution centers,which significantlyreduced shipping costs and time, and its computerized inventorysystem,which speeded upthecheckingout time and recordingof transactions.3

Do Not Copy Wal-Mart's Supply Chain Management Practices 3 BACKGROUND NOTE Walton was born in 1918 at Kingfisher, Oklahoma, US. After graduating from the University of Missouri in 1940, Walton worked for the famous retailer, J C Penney. In his first job, Walton had displayed the qualities of a good salesman. He realized the importance of building loyalty among customers as well as employees. In the mid 1940s, Walton gave up his job and decided to set up his own retail store. He purchased a store franchise from Ben Franklin in Newport, Arkansas. It was here that he learnt his first lessons in retailing – offering significant discounts on product prices to expand volumes and increase overall profits. The business was successful and Walton soon acquired a second store within three years. Walton not only looked for opportunities to open stores in other small towns but also explored the possibility of introducing innovative practices such as self-service. As the need for people to manage his stores increased, Walton tried to attract talented and experienced people from other stores. By 1969, Walton had established 18 Wal-Mart stores, reporting an annual sale of $44 million. In mid 1970s, Wal-Mart acquired 16 Mohr-Value stores in Michigan and Illinois. By the late 1970s, the retail chain had established a pharmacy, an auto service center, and several jewellery divisions. In the 1980s, Wal-Mart continued to grow rapidly due to the huge customer demand in small towns, where most of its stores were located. Commenting on the growth of Wal-Mart, Walton said: “When we arrived in these small towns offering low prices every day, customer satisfaction guaranteed, and hours that were realistic for the way people wanted to shop, we passed right by that old variety store competition, with its 45 percent mark ups, limited selection and limited hours.” Wal-Mart stores were located at a convenient place in a big warehouse-type building and targeted customers who bought merchandise in bulk. Customers could buy goods at wholesale prices by becoming members and paying a nominal membership fee. By 1984, there were 640 Wal-Mart stores in the US, generating sales of about $4.5 bn and accruing profit of over $200 mn. Wal-Mart suffered a setback in 1992, when Walton died after a prolonged illness. But it continued its impressive growth in the 1990s, focusing more on establishing its stores overseas. In 1992, Wal-Mart expanded its operations in Mexico by entering into a joint venture with Cifra. Two years later, the company acquired 122 Woolco stores from Woolworth, Canada. By 1997, Wal-Mart had become the largest volume discount retailer in Canada and Mexico. In 1997, Wal-Mart acquired the 21-store German hypermarket chain, Wertkauf. Other international expansion efforts included the purchase of Brazilian retailer Lojas Americans’ 40 percent interest in their joint venture, and the acquisition of four stores and additional sites in South Korea from Korea Makro. In January 1999, Wal-Mart expanded its German operations by buying 74 stores of the hypermarket chain, Interspar. The stores were acquired from Spar Handels AG, which owned multiple retail formats and wholesale operations throughout Germany. By 2002, Wal-Mart had emerged as the largest company in the world in terms of revenues. Analysts felt that Wal-Mart had come a long way since 1979, when the company generated annual revenues of more than a billion dollar for the first time. By 1993, the company was doing a billion dollar business in a week and by 2001, it was crossing the billion dollar mark in every 1.5 days. Analysts attributed this phenomenal growth to Wal-Mart’s continued focus on customer needs and reducing costs through efficient supply chain management practices. The company was able to offer a vast range of products at the lowest costs in the shortest possible time. This was possible mainly due to two factors – Wal-Mart’s highly automated distribution centers, which significantly reduced shipping costs and time, and its computerized inventory system, which speeded up the checking out time and recording of transactions

CFAWal-Mart's Supply Chain Management PracticesMANAGINGTHESUPPLYCHAINPROCUREMENTANDDISTRIBUTIONWal-Mart always emphasized theneed to reduce its purchasing costs and offer thebest price to itscustomers.The company procured goods directly from manufacturers, bypassing allintermediaries.Wal-Mart was a tough negotiator on prices and finalized a purchase deal only whenit wasfullyconfident thattheproducts beingboughtwerenotavailableelsewhere at a lowerpriceAccording to Claude Harris, one of the earliest employees,“Every buyer has to be tough.That isthe job.I always told the buyers:You are negotiating for your customer.And your customerdeserves the best prices that you can get.Don't ever feel sorry for a vendor. He always knowswhathecan sell,and wewanthis bottomprice.“Wewould tell thevendors,'Don't leaveinanyroom forakickback because wedon't do it here.And we don't want your advertisingprogram ordelivery program. Our truck will pick it up at your warehouse. Now what is your best price?"Wal-Mart spent a significant amount of time meeting vendors apd&nderstandingtheir coststructure.Bymaking theprocesstransparent,theretailer could beCertainthatthemanufacturerswere doing their best to cut down costs.Once satisfied, Wal-Mart(believedy establishing a long-term relationship with the vendor. In its attempt to drive hardbargains, Wal-Mart did not evensparebigmanufacturers likeProcter&Gamble(P&G).oweverthecompany,generally,preferred local and regional vendors and suppliers.In 1998, Wal-Mart had over 40 distribution centers(i&cated af different geographical locations inthe US.Over 80,o00 items were stocked in these centers.Wal-Mart's own warehouses directlysupplied 85 percent of the inventory,as compared to 50-65 percent for competitors.According torough estimates, Wal-Mart was able to provide roplenishments within two days (on an average)against at least five days for competitors. Shipping costs for Wal-Mart worked out to be roughly 3percent as against 5 percentfor competitorEach distribution center was divided intodifferent sections on thebasis of thequantity of goodsreceived and wasmanaged the sameway for both cases and palletized goods.The inventoryturnover rate was veryhigh.about onceeyery two weeks for most of the items.Goods meantfordistribution within the US usually arrived in pallets, while imported goods arrived in re-usableboxes or cases. In some cases( suppljiers delivered goods such as automotive and drug productsdirectlyto the stores.About 8s%of/thegoods which were available at the stores passed throughthedistributioncenters.The distribution centers ensyred a steady and consistent flow of products to support the supplyfunction. As Wal-Mart used sophisticated barcode technology and hand-held computer systems,managingthecenterbecameeasierandmoreeconomical.Everyemployeehadanaccesstoreal-time information regarding the inventory levels of all the products in the center. They had to justmaketwo scans-oneto identifythepallet,and the other to identifythe locationfrom wherethestock had to be picked up. Different barcodes were used to label different products, shelves andbins in a center. The hand-held computer guided an employee with regard to the location of aparticular product from a particular bin or shelf in the center.When the computer verified thebinand picked up a product, the employee confirmed whether it was theright product or not.Thequantity of the product required from the center was entered into the hand-held computer by theemployee and then the computer updated the information on themain server.The hand-held computer also enabled thepackaging department to get accurate information aboutthe products to bepacked.It displayed all information about the storage,packaging and shippingof a particular product thus, saving time on unnecessary paperwork. It also enabled the center

Do Not Copy Wal-Mart's Supply Chain Management Practices 4 MANAGING THE SUPPLY CHAIN PROCUREMENT AND DISTRIBUTION Wal-Mart always emphasized the need to reduce its purchasing costs and offer the best price to its customers. The company procured goods directly from manufacturers, bypassing all intermediaries. Wal-Mart was a tough negotiator on prices and finalized a purchase deal only when it was fully confident that the products being bought were not available elsewhere at a lower price. According to Claude Harris, one of the earliest employees, “Every buyer has to be tough. That is the job. I always told the buyers: ‘You are negotiating for your customer. And your customer deserves the best prices that you can get. Don’t ever feel sorry for a vendor. He always knows what he can sell, and we want his bottom price. ‘We would tell the vendors,’ Don’t leave in any room for a kickback because we don’t do it here. And we don’t want your advertising program or delivery program. Our truck will pick it up at your warehouse. Now what is your best price?” Wal-Mart spent a significant amount of time meeting vendors and understanding their cost structure. By making the process transparent, the retailer could be certain that the manufacturers were doing their best to cut down costs. Once satisfied, Wal-Mart believed in establishing a long￾term relationship with the vendor. In its attempt to drive hard bargains, Wal-Mart did not even spare big manufacturers like Procter & Gamble (P&G). However, the company, generally, preferred local and regional vendors and suppliers. In 1998, Wal-Mart had over 40 distribution centers located at different geographical locations in the US. Over 80,000 items were stocked in these centers. Wal-Mart’s own warehouses directly supplied 85 percent of the inventory, as compared to 50-65 percent for competitors. According to rough estimates, Wal-Mart was able to provide replenishments within two days (on an average) against at least five days for competitors. Shipping costs for Wal-Mart worked out to be roughly 3 percent as against 5 percent for competitors. Each distribution center was divided into different sections on the basis of the quantity of goods received and was managed the same way for both cases and palletized goods. The inventory turnover rate was very high, about once every two weeks for most of the items. Goods meant for distribution within the US usually arrived in pallets, while imported goods arrived in re-usable boxes or cases. In some cases, suppliers delivered goods such as automotive and drug products directly to the stores. About 85% of the goods which were available at the stores passed through the distribution centers. The distribution centers ensured a steady and consistent flow of products to support the supply function. As Wal-Mart used sophisticated barcode technology and hand-held computer systems, managing the center became easier and more economical. Every employee had an access to real￾time information regarding the inventory levels of all the products in the center. They had to just make two scans – one to identify the pallet, and the other to identify the location from where the stock had to be picked up. Different barcodes were used to label different products, shelves and bins in a center. The hand-held computer guided an employee with regard to the location of a particular product from a particular bin or shelf in the center. When the computer verified the bin and picked up a product, the employee confirmed whether it was the right product or not. The quantity of the product required from the center was entered into the hand-held computer by the employee and then the computer updated the information on the main server. The hand-held computer also enabled the packaging department to get accurate information about the products to be packed. It displayed all information about the storage, packaging and shipping of a particular product thus, saving time on unnecessary paperwork. It also enabled the center

Wal-Mart'sSupplyChainManagementPracticesCFAsupervisorstomonitortheir employees closelyenablingthemto givedirections and evenguidethem even on the move.This enabled the company to satisfy customer needs quickly and improvethelevel of efficiencyof thedistribution center managementoperations.Each distribution center had facilities for maintaining personal hygiene such as shower bath andfitness centers.It alsohad provisionforfood, sleep and personal business.The distribution centercould also be used for meetings and paperwork.Thetruckdrivers of Wal-Mart sometimes availedthese facilities.LOGISTICSMANAGEMENTAn important feature of Wal-Mart's logistics infrastructure was its fast and responsivetransportation system.The distribution centers were serviced bymore than 35o0 company ownedtrucks. These dedicated truck fleets allowed the company to ship goods from the distributioncenterstothestoreswithintwodavsandreplenishthestoreshelvestwiceaweek.Thetruckfleetwas the visible link between the stores and distribution centers. Wal-Mak believed that it neededdrivers who were committed and dedicated to customer serviceThecompany hired onlyexperienceddrivers whohaddrivenmorethan 300,000accident-freemiles,withnomajortrafficviolation.Wal-Mart truck drivers generally moved the merehandise-lQaded/trailers from Wal-Martdistribution centers to the retail stores serviced by eagh distribution center. These retail stores wereconsidered as customers bythedistributioncenters.Thedriveyshadtoreporttheirhours of serviceto a coordinatordaily.The coordinator scheduled all &ispatehes depending on the available drivingtimeandtheestimatedtimefortravel betweexthedistributioncentersandtheretail stores.Thecoordinator informed the driver of his dispatches. either on the driver's arrival at the distributioncenteroronhisreturntothedistributioncenterfromtheretail store.Thedriver wasusuallyexpectedtotakealoadedtrucktrailer/frorhthedistributioncentertotheretailstoreandreturnback with an emptytrailer.Hehadtodispatchaloaded trucktrailerattheretail storeand spend thenight there.A driverhad to bringthetrailer at the dock of a store only at its scheduled unloadingtime,no matter when he arrived at thestore. The drivers delivered the trailers in the afternoon andeveninghours and theywould beunloaded at the store at nights.Therewas agap of two hoursbetweenunloading of each trailerFor instanceif a storereceivedthree trailersthefirst onewould be unloaded at midnight 2AM),the second one would beunloaded at2AM and the thirdone at 4 AM.Although, the trailers were lgft unattended, they were secured by the drivers, until the storepersonnel took charge of thep at night. Wal-Mart received more trailers than they had docks, dueto their large volume of business.Wal-Mart maintained a strict vigil over its drivers bykeeping a record of their activities throughthe “Private Fleet Driver Handbook" (Refer Exhibit Ill). The purpose of the book was to educatethedriverswithregardtothecodeofconduct.Italsoincludedthetermsand conditionsregardingthe safe exchange of trailers with the storepersonnel and the safety of Wal-Mart's property.Thisbook also contained a list of other activities, the non-compliance of which would result in theterminationofthedriver.To make its distribution process more efficient, Wal-Mart also made use of a logistics techniqueknown as“cross-docking.In this system,thefinished goodswere directlypicked upfrom themanufacturing plant of a supplier, sorted out and then directly supplied to the customers.Thesystem reduced thehandling and storage of finished goods,virtually eliminating the roleof thedistribution centers and stores. There were five types of cross-docking (Refer Exhibit IV).5

Do Not Copy Wal-Mart's Supply Chain Management Practices 5 supervisors to monitor their employees closely enabling them to give directions and even guide them even on the move. This enabled the company to satisfy customer needs quickly and improve the level of efficiency of the distribution center management operations. Each distribution center had facilities for maintaining personal hygiene such as shower bath and fitness centers. It also had provision for food, sleep and personal business. The distribution center could also be used for meetings and paperwork. The truck drivers of Wal-Mart sometimes availed these facilities. LOGISTICS MANAGEMENT An important feature of Wal-Mart’s logistics infrastructure was its fast and responsive transportation system. The distribution centers were serviced by more than 3,500 company owned trucks. These dedicated truck fleets allowed the company to ship goods from the distribution centers to the stores within two days and replenish the store shelves twice a week. The truck fleet was the visible link between the stores and distribution centers. Wal-Mart believed that it needed drivers who were committed and dedicated to customer service. The company hired only experienced drivers who had driven more than 300,000 accident-free miles, with no major traffic violation. Wal-Mart truck drivers generally moved the merchandise-loaded trailers from Wal-Mart distribution centers to the retail stores serviced by each distribution center. These retail stores were considered as customers by the distribution centers. The drivers had to report their hours of service to a coordinator daily. The coordinator scheduled all dispatches depending on the available driving time and the estimated time for travel between the distribution centers and the retail stores. The coordinator informed the driver of his dispatches, either on the driver’s arrival at the distribution center or on his return to the distribution center from the retail store. The driver was usually expected to take a loaded truck trailer from the distribution center to the retail store and return back with an empty trailer. He had to dispatch a loaded truck trailer at the retail store and spend the night there. A driver had to bring the trailer at the dock of a store only at its scheduled unloading time, no matter when he arrived at the store. The drivers delivered the trailers in the afternoon and evening hours and they would be unloaded at the store at nights. There was a gap of two hours between unloading of each trailer. For instance, if a store received three trailers, the first one would be unloaded at midnight (12 AM), the second one would be unloaded at 2 AM and the third one at 4 AM. Although, the trailers were left unattended, they were secured by the drivers, until the store personnel took charge of them at night. Wal-Mart received more trailers than they had docks, due to their large volume of business. Wal-Mart maintained a strict vigil over its drivers by keeping a record of their activities through the “Private Fleet Driver Handbook” (Refer Exhibit III). The purpose of the book was to educate the drivers with regard to the code of conduct. It also included the terms and conditions regarding the safe exchange of trailers with the store personnel and the safety of Wal-Mart’s property. This book also contained a list of other activities, the non-compliance of which would result in the termination of the driver. To make its distribution process more efficient, Wal-Mart also made use of a logistics technique known as ‘cross-docking.’ In this system, the finished goods were directly picked up from the manufacturing plant of a supplier, sorted out and then directly supplied to the customers. The system reduced the handling and storage of finished goods, virtually eliminating the role of the distribution centers and stores. There were five types of cross-docking (Refer Exhibit IV)

ICFAWal-Mart's SupplyChainManagementPracticesIncrossdocking,requisitionsreceivedfordifferentgoodsfromastorewereconvertedintopurchase or procurement orders.These purchase orders were then forwarded to the manufacturerswho conveyed their ability or inabilityto supplythe goods within a particular period of time.Incases where the manufacturer agreed to supply the required goods within the specified time,thegoods were directly forwarded to a place called the staging area. Thegoods were packed hereaccording to the orders receivedfrom different stores and thendirectly senttotherespectivecustomers.To gain maximum out of cross-docking,Wal-Mart had to make fundamental changes in itsapproach to managerial control.Traditionally,decisions about merchandising,pricing andpromotions had been highly centralized and were generally taken at the corporate level.The cross-dockingsystem,however,changed thispractice.Thesystemshifted thefocusfrom“supplychain"to the “demand chain," which meant that instead of the retailer 'pushing' products into the system,customers couldpull'products,whenand wheretheyneeded.Thisapproachplacedapremium onfrequent,informal cooperation among stores,distributioncenters and suppliers withfar lesscentralizedcontrolthanearlier.INVENTORY MANAGEMENTWal-Marthad developed an abilityto catertothe individxalQf its stores.Stores couldchoose from a number of delivery plans.For instance, there was an accelerated delivery system bywhich stores located within a certain distance of a geggraphical eenter could receive replenishmentwithinaday.Wal-Martinvested heavily in IT and communications systems toeffectivelytrack sales andmerchandise inventories in stores across the country With the rapid expansion of Wal-Mart storesintheUS.itwasessentialtohaveagoodcommunicationsystem.Hence.Wal-Martsetupitsownsatellite communication system in 1983Expaining the benefits of the system Walton said,I canwalkinthesatelliteroom,whereourtechaiciansitinfrontofthecomputerscreenstalkingonthephone to any stores that mightbehaving a problem withthe system,and just looking overtheirshoulders fora minute or two willteime a lot about howa particularday is going.On the screen,I can see the total of the day's bank credit sales adding up as they occur.If we have somethingreallyimportantorurgenttocommunicatetothestoresanddistributioncenters.I.oranyotherWal-Martexecutivecanwalk backtoourTV studioand get onthatsatellitetransmission and get itright out there.I can also go eyery Saturday morning around three, look over these printouts andknowpreciselywhatkindofwotkwehavehad.Wal-Mart was abletoreducunproductiveinventory by allowing storestomanagetheir ownstocks.reducingpacksizesacrossmanyproductcategories.andtimelypricemarkdowns.Insteagof cutting inventory across the board, Wal-Mart madefull use of its IT capabilities to make moreinventoriesavailableinthecaseofitemsthatcustomerswantedmost.whilereducingtheoveralinventorylevels.Wal-Mart also networked its suppliers through computers.ThecompanyenteredintocollaborationwithP&Gformaintainingtheinventoryin its stores and builtan automated re-ordering system,whichlinked all computers betweenP&G and its storesandotherdistributioncenters.The computer system at Wal-Mart stores identified an item which was low in stock andsent a signal to P&G.The system then sent a re-supply order to the nearest P&G factory through asatellite communication system.P&Gthen delivered the item eithertotheWal-Mart distributioncenterordirectlytotheconcerned stores.Thiscollaborationbetween Wal-MartandP&Gwas awin-winpropositionforbothbecauseWal-Mart couldmonitorits stocklevels inthe storesconstantly and also identify the items that were movingfast.P&G could also lower its costs andpasson someofthesavingstoWal-Martduetobettercoordination.6

Do Not Copy Wal-Mart's Supply Chain Management Practices 6 In cross docking, requisitions received for different goods from a store were converted into purchase or procurement orders. These purchase orders were then forwarded to the manufacturers who conveyed their ability or inability to supply the goods within a particular period of time. In cases where the manufacturer agreed to supply the required goods within the specified time, the goods were directly forwarded to a place called the staging area. The goods were packed here according to the orders received from different stores and then directly sent to the respective customers. To gain maximum out of cross-docking, Wal-Mart had to make fundamental changes in its approach to managerial control. Traditionally, decisions about merchandising, pricing and promotions had been highly centralized and were generally taken at the corporate level. The cross￾docking system, however, changed this practice. The system shifted the focus from “supply chain” to the “demand chain,” which meant that instead of the retailer ‘pushing’ products into the system; customers could ‘pull’ products, when and where they needed. This approach placed a premium on frequent, informal cooperation among stores, distribution centers and suppliers with far less centralized control than earlier. INVENTORY MANAGEMENT Wal-Mart had developed an ability to cater to the individual needs of its stores. Stores could choose from a number of delivery plans. For instance, there was an accelerated delivery system by which stores located within a certain distance of a geographical center could receive replenishment within a day. Wal-Mart invested heavily in IT and communications systems to effectively track sales and merchandise inventories in stores across the country. With the rapid expansion of Wal-Mart stores in the US, it was essential to have a good communication system. Hence, Wal-Mart set up its own satellite communication system in 1983. Explaining the benefits of the system Walton said, “I can walk in the satellite room, where our technicians sit in front of the computer screens talking on the phone to any stores that might be having a problem with the system, and just looking over their shoulders for a minute or two will tell me a lot about how a particular day is going. On the screen, I can see the total of the day’s bank credit sales adding up as they occur. If we have something really important or urgent to communicate to the stores and distribution centers, I, or any other Wal-Mart executive can walk back to our TV studio and get on that satellite transmission and get it right out there. I can also go every Saturday morning around three, look over these printouts and know precisely what kind of work we have had.” Wal-Mart was able to reduce unproductive inventory by allowing stores to manage their own stocks, reducing pack sizes across many product categories, and timely price markdowns. Instead of cutting inventory across the board, Wal-Mart made full use of its IT capabilities to make more inventories available in the case of items that customers wanted most, while reducing the overall inventory levels. Wal-Mart also networked its suppliers through computers. The company entered into collaboration with P&G for maintaining the inventory in its stores and built an automated re￾ordering system, which linked all computers between P&G and its stores and other distribution centers. The computer system at Wal-Mart stores identified an item which was low in stock and sent a signal to P&G. The system then sent a re-supply order to the nearest P&G factory through a satellite communication system. P&G then delivered the item either to the Wal-Mart distribution center or directly to the concerned stores. This collaboration between Wal-Mart and P&G was a win-win proposition for both because Wal-Mart could monitor its stock levels in the stores constantly and also identify the items that were moving fast. P&G could also lower its costs and pass on some of the savings to Wal-Mart due to better coordination

Wal-Mart'sSupplyChain Management PracticesCFAEmployees at the storeshad theMagicWand,ahand-held computerwhichwas linked to in-storeterminals through a radio frequency network.These helped them tokeep track of the inventory instores, deliveries and backup merchandise in stock at the distribution centers. The ordermanagementand storereplenishmentof goodswereentirelyexecutedwiththehelpof computersthrough the Point-of-Sales (POS) system. Through this system, it was possible to monitor andtrackthesalesandmerchandisestocklevelsonthestoreshelves.Wal-Martalsomadeuseofthesophisticatedalgorithmsvstemwhichenabledittoforecasttheexactquantitiesofeachitemtobedelivered, based on the inventories in each store. Since the data was accurate, even bulk itemscouldbebrokenand supplied tothe stores.Wal-Mart also used a centralized inventorydata systemusing which the personnel at the stores could find out the level of inventories and the location ofeach product at any given time. It also showed whether a product was being loaded in thedistribution center or was in transit on a truck.Once thegoods were unloaded at thestore,thestorewas furnished withfull stocks of inventories of a particular item and the inventory data system wasimmediatelyupdated.Wal-Mart also made use of bar coding and radio frequency technology to manage its inventoriesUsing bar codes and fixed optical readers, the goods could be directeto the appropriate dock,from wherethey wereloaded ontothetrucksfor shipment.Bar coding devices enabled efficientpicking,receiving and proper inventory control of the appropriategoods.It also enabled easy orderpackingandphysical countingoftheinventoriesIn 1991, Wal-Mart had invested approximately S4 billign tq@uilda retal link system. More than10,000 Wal-Mart retail suppliers used the retail link system to mohitof the sales of their goods atstoresandreplenishinventories.Thedetailsofdailyfransactions,whichapproximatelyamountedtomorethan 10millionperday,wereprocessed thrdughthis jhtegrated systemand werefurnishedto every Wal-Mart store by 4 a.m., the next day.InQctobef 2001, Wal-Mart tied-upwith AtlasCommerce for upgrading the system through the Internet enabled technologies.Wal-Mart ownedthelargest and most sophisticatedeomputer systemintheprivatesector.Thecompany used Massively Parallel Processof(MPp) computer system to track the movement ofgoods and stock levels. All informationrelated tosales and inventories was passed on through anadvanced satellite communication systemToprovideback-upincaseof amajorbreakdownorservice interruption,thecompanyhad an extensivecontingencyplan.Bymaking effectiveuseofcomputers inal its company'soperations,Wal-Martwas successful inprovidinguninterruptedservice/toitscustomers,suppliers,stockholdersandtradingpartners.THEBENEFITSREAREDWal-Mart stronglybelievedand constantlyemphasized on strengtheningitsrelationshipswithitscustomers,suppliers and employees.The companywasveryvigilantand sensedthe smallest ofchanges in store layouts and merchandising techniquesto improve performance andvalue forcustomers. The company made efforts to capitalize on every cost saving opportunity. The savingson cost were always passed on to the consumers, thereby adding value at every stage and processWal-Mart also enjoyed the benefits of low transportation costs since it had its own transportationsystem which assisted Wal-Mart in delivering thegoods to different stores within (or sometimeslessthan)48hours.TransportationcostsforWal-Martwereestimatedatapproximately3%of thetotal costs as compared to5%for theircompetitors.Having its own transportation system enabledWal-Marttoreplenishthe shelvesfourtimesfasterthanits competitorsWal-Mart priced its goods economically and the prices varied from day to day.The companyenjoyed good bargaining power as it purchased huge quantities. This enabled it to price itsproducts competitivelyand pass onthe benefits to theconsumers.The companyoffered higherdiscounts than any other retailer and they earned good revenues in the form of higher volumes.Low pricing ensured that the sales volumes werehigh and consistent.7

Do Not Copy Wal-Mart's Supply Chain Management Practices 7 Employees at the stores had the ‘Magic Wand,’ a hand-held computer which was linked to in-store terminals through a radio frequency network. These helped them to keep track of the inventory in stores, deliveries and backup merchandise in stock at the distribution centers. The order management and store replenishment of goods were entirely executed with the help of computers through the Point-of-Sales (POS) system. Through this system, it was possible to monitor and track the sales and merchandise stock levels on the store shelves. Wal-Mart also made use of the sophisticated algorithm system which enabled it to forecast the exact quantities of each item to be delivered, based on the inventories in each store. Since the data was accurate, even bulk items could be broken and supplied to the stores. Wal-Mart also used a centralized inventory data system using which the personnel at the stores could find out the level of inventories and the location of each product at any given time. It also showed whether a product was being loaded in the distribution center or was in transit on a truck. Once the goods were unloaded at the store, the store was furnished with full stocks of inventories of a particular item and the inventory data system was immediately updated. Wal-Mart also made use of bar coding and radio frequency technology to manage its inventories. Using bar codes and fixed optical readers, the goods could be directed to the appropriate dock, from where they were loaded on to the trucks for shipment. Bar coding devices enabled efficient picking, receiving and proper inventory control of the appropriate goods. It also enabled easy order packing and physical counting of the inventories. In 1991, Wal-Mart had invested approximately $4 billion to build a retail link system. More than 10,000 Wal-Mart retail suppliers used the retail link system to monitor the sales of their goods at stores and replenish inventories. The details of daily transactions, which approximately amounted to more than 10 million per day, were processed through this integrated system and were furnished to every Wal-Mart store by 4 a.m., the next day. In October 2001, Wal-Mart tied-up with Atlas Commerce for upgrading the system through the Internet enabled technologies. Wal-Mart owned the largest and most sophisticated computer system in the private sector. The company used Massively Parallel Processor (MPP) computer system to track the movement of goods and stock levels. All information related to sales and inventories was passed on through an advanced satellite communication system. To provide back-up in case of a major breakdown or service interruption, the company had an extensive contingency plan. By making effective use of computers in all its company’s operations, Wal-Mart was successful in providing uninterrupted service to its customers, suppliers, stockholders and trading partners. THE BENEFITS REAPED Wal-Mart strongly believed and constantly emphasized on strengthening its relationships with its customers, suppliers and employees. The company was very vigilant and sensed the smallest of changes in store layouts and merchandising techniques to improve performance and value for customers. The company made efforts to capitalize on every cost saving opportunity. The savings on cost were always passed on to the consumers, thereby adding value at every stage and process. Wal-Mart also enjoyed the benefits of low transportation costs since it had its own transportation system which assisted Wal-Mart in delivering the goods to different stores within (or sometimes less than) 48 hours. Transportation costs for Wal-Mart were estimated at approximately 3% of the total costs as compared to 5% for their competitors. Having its own transportation system enabled Wal-Mart to replenish the shelves four times faster than its competitors. Wal-Mart priced its goods economically and the prices varied from day to day. The company enjoyed good bargaining power as it purchased huge quantities. This enabled it to price its products competitively and pass on the benefits to the consumers. The company offered higher discounts than any other retailer and they earned good revenues in the form of higher volumes. Low pricing ensured that the sales volumes were high and consistent

ICFAWal-Mart's SupplyChainManagementPracticesThebenefits of an efficient supplychainmanagement system included reduction inleadtime,faster inventory turnover,accurateforecasting of inventory levels,increased warehouse spacereduction in safety stock and better working capital utilization. It also helped reduce thedependency on the distribution center management personnel resulting in minimization of trainingcosts and errors.The stock-out of goods and the subsequent loss arising out of it was completelyeliminated.Wal-Mart's supply chain management practices resulted in increased efficiency in operations andbetter customer service.It eliminated old stocks and maintained quality of goods.Bar codingandradio frequencytechnologies enabled accuratedistributionof goods.Cross-docking alsohelpedWal-Mart to reduce inventory storage costs. It also helped to cut down the labor and otherhandling costs involved in the loading and unloading of goods.QUESTIONSFORDISCUSSION:Wal-Marthas been abletoachieverespectableleadership intheyetaxyindustrybecauseof its1.focus on supplychain management.Discuss indetail thedistfibutionandlogisticssystemadoptedbyWal-Mart.2..The use of innovative information technology tools hag benefited Wal-Mart's supply chainmanagement.In the light of the above statement, brieflyexplajin how IT benefited Wal-Mart'slogistics and inventory management.3.What were the supply chain management processesdoptedbyWal-Martandhowfarweretheyeffective?Discuss.Wal-Mart from the efficient supply chain4What wasthenatureof benefits deriyedbymanagement practices and howfart hascontributed to its sustainable competitive advantage?Explain.1 The time taken for goods to reach Wal-Mart stores from the place ofmanufacture.8

Do Not Copy Wal-Mart's Supply Chain Management Practices 8 The benefits of an efficient supply chain management system included reduction in lead time,1 faster inventory turnover, accurate forecasting of inventory levels, increased warehouse space, reduction in safety stock and better working capital utilization. It also helped reduce the dependency on the distribution center management personnel resulting in minimization of training costs and errors. The stock-out of goods and the subsequent loss arising out of it was completely eliminated. Wal-Mart’s supply chain management practices resulted in increased efficiency in operations and better customer service. It eliminated old stocks and maintained quality of goods. Bar coding and radio frequency technologies enabled accurate distribution of goods. Cross-docking also helped Wal-Mart to reduce inventory storage costs. It also helped to cut down the labor and other handling costs involved in the loading and unloading of goods. QUESTIONS FOR DISCUSSION: 1. Wal-Mart has been able to achieve respectable leadership in the retail industry because of its focus on supply chain management. Discuss in detail the distribution and logistics system adopted by Wal-Mart. 2. The use of innovative information technology tools had benefited Wal-Mart’s supply chain management. In the light of the above statement, briefly explain how IT benefited Wal-Mart’s logistics and inventory management. 3. What were the supply chain management processes adopted by Wal-Mart and how far were they effective? Discuss. 4. What was the nature of benefits derived by Wal-Mart from the efficient supply chain management practices and how far it has contributed to its sustainable competitive advantage? Explain. 1 The time taken for goods to reach Wal-Mart stores from the place of manufacture

ICFAIWal-Mart'sSupplyChainManagementPracticesEXHIBITIWORLD'S25LARGESTRETAILCOMPANIESBYSALES(2002)2001 SalesRank byCompanySectorRankCountry(in mnMarketNameDollars)Cap.U.S.Wal-MartDiscount Store217.800112CarrefourFranceHypermarket67.7216312AholdNetherlands64.902Supermarket/Hypermarket24HomeDepotU.S.53,553Homeimprovement135U.S.50.098KrogerSupermarket326Metro AGGermanyDiversified48,.264Discount5U.S.739,175TargetStore/Departmentstore8Albertson'sU.S.437.93120Supermarket99U.K.87.378TescoSupermarket/HypermarketDepartmentstore/General10U.S.1435847Sears, Roebuckmerchandise?11U.S.34,30115SafewaySupermarket-12U.S.11CostcoWholesale club34.137P13ReweGruppeGermanyDiversified733.640ITMP14France32,922Diversified/Enterprises1Departmentstore/Drug15U.S.48J.C.Penny32,004store16PAldi GruppeGermanyFoodrDiscountstore30.000EdekaGruppe17PDiversifiedy29,392Germany(incl.AVA)Spermarket/A2518U.K.27,121J SainsburyHypermarketPinault-1271927,079FranceDiversifiedPrintemps-Redoute203WalgreenU.SDrug store24.623P21FranceLeclercDiversified24,195Hypermarket/P2223,478AuchanFranceDiversifiedTengelmannP23Diversified23,393GermanyGruppe24U.S.18CVS22,241Drug store25Lowe'sU.S.22,1117HomeImprovementSource:www.chainstoreage.comNote: *P:Privately ownedAll amounts are in millions of U.S. dollars, using the average 2001 exchange rates. All data is corporatelevel for retail-diversified companies, excluding VAT and non-retailing revenue when available.Thedifferentbusinessesof JapaneseConglomeratesareaccountedfor separately9

Do Not Copy Wal-Mart's Supply Chain Management Practices 9 EXHIBIT I WORLD’S 25 LARGEST RETAIL COMPANIES BY SALES (2002) Rank Company Name Country Sector 2001 Sales (in mn Dollars) Rank by Market Cap. 1 Wal-Mart U.S. Discount Store 217,800 1 2 Carrefour France Hypermarket 67,721 6 3 Ahold Netherlands Supermarket/Hypermarket 64,902 12 4 Home Depot U.S. Home improvement 53,553 2 5 Kroger U.S. Supermarket 50,098 13 6 Metro AG Germany Diversified 48,264 32 7 Target U.S. Discount Store/Department store 39,175 5 8 Albertson’s U.S. Supermarket 37,931 20 9 Tesco U.K. Supermarket/Hypermarket 37,378 9 10 Sears, Roebuck U.S. Department store/General merchandise 35,847 14 11 Safeway U.S. Supermarket 34,301 15 12 Costco U.S. Wholesale club 34,137 11 13 Rewe Gruppe Germany Diversified 33,640 P 14 ITM Enterprises France Diversified 32,922 P 15 J.C.Penny U.S. Department store/Drug store 32,004 48 16 Aldi Gruppe Germany Food/Discount store 30,000 P 17 Edeka Gruppe (incl. AVA) Germany Diversified 29,392 P 18 J Sainsbury U.K. Supermarket/ Hypermarket 27,121 25 19 Pinault￾Printemps￾Redoute France Diversified 27,079 27 20 Walgreen U.S. Drug store 24,623 3 21 Leclerc France Diversified 24,195 P 22 Auchan France Hypermarket/ Diversified 23,478 P 23 Tengelmann Gruppe Germany Diversified 23,393 P 24 CVS U.S. Drug store 22,241 18 25 Lowe’s U.S. Home Improvement 22,111 7 Source: www.chainstoreage.com Note: *P: Privately owned All amounts are in millions of U.S. dollars, using the average 2001 exchange rates. All data is corporate level for retail-diversified companies, excluding VAT and non-retailing revenue when available. The different businesses of Japanese Conglomerates are accounted for separately

ICFAIWal-Mart's SupplyChain Management PracticesEXHIBIT IITHE STRENGTHOFWALMART$220 billionYearly sales1.28millionTotalemployeesacrosstheglobe4,382Numberof storesworldwide1,060Number of Supercenters495Numberof Sam'sClubs420Numberofnew stores opened in200230,000Numberof suppliers316Number of Wal-Mart's in Texas (US)$11.5 millionValue of 100sharesofWal-Mart (as onJanuary28,2003)purchased in1970@$16.50pershare1Wal-Mart's rank/position among all retailers intheUS (in terms ofAgrocery sales)D1Wal-Mart'srank in jewellery sales50millionNumberofpalletsshippedbyWal-Marttruckeveryweek70 millionAnnual sales of hot dogs by Wal-Mart every year (approx)35%Percentage of dry dogfood bought by Wal-Mart in the US18.3 square milesTotal occupied floor area of Wal-MartC24%Percentage of toothpaste bought by Wal-MartDYearly advertising expenditure$498 millionYearly purchase of gold for Wal-Mart by its suppliers18.4metric tonneHighest one-day sales record till date (November 23, 2001)$1.25 billion18NumberofLearjetsownedbyWal-Mart60Number of pilots owned by Wal-Mart4000Number of employees employed byWalMaxt jn ChinaYearly sales of 850 McDonalds storesthat opefate inside Wal-Mart$1.3 billionstores15.7millionNumberofcustomerseverydayaNWal-Martstoresworldwide4,50,000NumberofeverydayvisitorsatWal-Martswebsite,walmart.com1.00.000Numberof items storedbyWal-Mart Supercenters6,00,000Items storedbywalmart.com$11.1trillionEstimated market capitalizafion Of Wal-Mart in 2020Source:www.businesk2.com10

Do Not Copy Wal-Mart's Supply Chain Management Practices 10 EXHIBIT II THE STRENGTH OF WALMART Yearly sales $220 billion Total employees across the globe 1.28 million Number of stores worldwide 4,382 Number of Supercenters 1,060 Number of Sam’s Clubs 495 Number of new stores opened in 2002 420 Number of suppliers 30,000 Number of Wal-Mart’s in Texas (US) 316 Value of 100 shares of Wal-Mart (as on January 28, 2003) purchased in 1970 @ $16.50 per share $11.5 million Wal-Mart’s rank/position among all retailers in the US (in terms of grocery sales) 1 Wal-Mart’s rank in jewellery sales 1 Number of pallets shipped by Wal-Mart truck every week 50 million Annual sales of hot dogs by Wal-Mart every year (approx) 70 million Percentage of dry dog food bought by Wal-Mart in the US 35% Total occupied floor area of Wal-Mart 18.3 square miles Percentage of toothpaste bought by Wal-Mart 24% Yearly advertising expenditure $498 million Yearly purchase of gold for Wal-Mart by its suppliers 18.4 metric tonne Highest one-day sales record till date (November 23, 2001) $1.25 billion Number of Learjets owned by Wal-Mart 18 Number of pilots owned by Wal-Mart 60 Number of employees employed by Wal-Mart in China 4000 Yearly sales of 850 McDonalds stores that operate inside Wal-Mart stores $1.3 billion Number of customers everyday at Wal-Mart stores worldwide 15.7 million Number of every day visitors at Wal-Mart’s website, walmart.com 4, 50,000 Number of items stored by a Wal-Mart Supercenters 1,00,000 Items stored by walmart.com 6,00,000 Estimated market capitalization of Wal-Mart in 2020 $11.1 trillion Source: www.business2.com

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