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When you want to establish a business, it is necessary to learn from the best examples according to the branch you want to develop. One such example is the Walmart business model . What can you learn? How to put into practice the strategies that this business has used? What will be the advantages in your own business? technologyify
In this blog you will find the answers to all the questions
posed, after your careful reading you will be able to choose actions to take.
Find out what this company model is based on .
What is the Walmart business model?
Walmart is a world-renowned company, consisting of a chain
of stores which uses certain strategies , which has brought commercial
successes. It has maintained a balance between growth and the optimum of the
products to offer.
What can you learn from the Walmart business model?
Much can be learned from Walmart's business model and we
will describe them below.
Low costs
Few links in walmart's business model
Strategy that is nothing more than acquiring the product of
the sale directly with the person who manufactures it. Thus, the supply of the
product will be better managed,
eliminating intermediaries that increase prices and allowing them to be
offered.
Strategic and efficient partnership
This prestigious company offers its suppliers to buy a high
volume of merchandise for a long time. In this way, Walmart strategically
aligns itself with suppliers and stores as if they were the same company, it is
a business model worth imitating.
Cross docking
The practice of this logistics is a key Walmart strategy
based on transferring merchandise from truck to truck and from there to stores.
This will allow a reduced cost in transportation and inventories will be more
fluid, in less than 24 hours the product will be in the final warehouses.
Technology
For Walmart, a business model to follow is to use the most
advanced technology in what has to do with network design. From the information
obtained in the stores, inventory services, monitoring of all its routes by
satellite to customer service.
most off the walmat having web cam at they cash counters
On the other hand, they have an intranet, to plan, replenish
and prevent any attack that needs to be improved. Another technology Walmart
has used is codes to track the movement of merchandise.
In conclusion, we can limit that Walmart's business model
can show entrepreneurs and businessmen a series of strategies. A learning that
when adopted and practiced in a personalized way can achieve efficiency in your
business.
On the other hand, by using strategies such as lowering
prices to find a way to use fewer suppliers when obtaining a product. It will
make you stand out among your closest competition, if this article was
beneficial for your business, tell us what strategy you used or if you are
going to use all of them.