How Walmart Aims to Reinvent Sourcing
Walmart has embarked on a joint project with enterprise retail technology solution provider Bamboo Rose to develop and implement a state-of-the-art enterprise sourcing platform (ESP) that will change the way the retailer does business with its many suppliers around the world. The technology will unite disparate systems, improving efficiencies and helping Walmart adhere to its mission of everyday low prices.
Using the new platform, Walmart sourcing associates will be able to collaborate more easily with buyers, product development teams and suppliers, improving the way that the company procures and imports goods for resale. The single sourcing platform will provide greater visibility across teams, enabling associates to make more informed purchasing decisions on volume and cost, boosting access of goods to other markets, and potentially reducing waste in such categories as perishables and other sensitive product lines. The ESP solution’s implementation will also open doors for products to be sold in connected markets.
“At Walmart, we’re constantly looking for ways to improve our business so we can help our customers save money and live better,” noted Daniel Berg, Walmart’s VP of product global sourcing. “I’m thrilled to be able to work with Bamboo Rose to develop a brand-new ecosystem connecting our global teams with a single platform, empowering us to go beyond simply streamlining information. With this technology, we’ll be able to engage with suppliers across multiple growth stages, expand global offerings and make more efficient decisions.”
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“We believe retailers succeed when they collaborate internally and across supplier networks to provide openness and opportunities for collective growth,” said Mike Mattei, chief revenue officer at Boston-based Bamboo Rose. “At Bamboo Rose, we deeply understand the challenges faced by our customers and we craft solutions that drive positive business outcomes for global retailers. This initiative is a testament to our commitment to innovation and delivering exceptional value.”
Each week, approximately 230 million customers and members visit Walmart’s more than 10,500 stores and numerous e-commerce websites under 46 banners in 24 countries. The Bentonville, Ark.-based company employs approximately 2.3 million associates worldwide. Walmart U.S. is No. 1 on Progressive Grocer’s 2023 list of the top food and consumables retailers in North America. PG also named Walmart one of its Retailers of the Century.
