Inventory is the reason a retail enterprise exists. Without product, customers would have no reason to come in, nothing would be purchased, and no money would be made. So why is inventory, which consumes the majority of capital, often the last place retailers truly focus their attention? Why are outdated, mistake-prone, and manual processes still present in enterprises ranging from large grocery chains to SMB independents? If you haven’t already, it’s time to take the Sam Walton approach to successful retailing. The proof is in the profits.
Walton’s way of thinking was years ahead of its time and, of course, the rest of us are now starting to see his real vision: the elimination of tasks. Independent grocers now have access to incredibly powerful technology and well-established interconnection standards, all of which are highly affordable, a situation that Walton never enjoyed.
Pete Catoe CEO, President and Founder of ECRS – Speaking about the benefits of EDI and inventory replenishment originally implemented by Wal-Mart Stores, Inc. (R) Founder, Sam Walton