MANAGEMENT

Project Management

Project Management

Introduction

Wal-Mart Stores Inc. is the world's largest retailer with over 2 million employees, and 8,500 establishments in 15 countries under 55 different names. Each week, more than 100 million customers visit Wal-Mart establishment. Sam Walton founded the company in 1962 with a simple goal: to offer low prices for all the people. Although he died in 1992, but their values ??of hard work and dedication are well entrenched in the culture of Wal-Mart even today. The company's employees see their work as a mission, to reduce the cost of living throughout the world. The Wal-Mart philosophy is to allow people with such economic resources that Allows them to buy the same products that were previously available to only rich people who could afford them. The company strives to be efficient and use their influence of purchase for lower prices from its suppliers, and transfer those savings to customers in the price (Chase, 2008).

Wal-Mart is succeeding in the competitive U.S. retail sector for several reasons. The first reason is low prices, its wide selection and quality customer services that retain the customer. However, this been possible only because of advance management of information system that is employed by Wal-Mart. This company sells a large number of foodstuffs, clothing, diapers, toothpaste, toys, CD's and products for pet care. These are the common products that any departmental store may sell, but then one is compelled to think that what is the secret behind their huge success? Any random person may answer to this that It is based on a strategy of low price, whose mission is to reduce the cost of living in the world. To achieve this objective, Wal-Mart sells a wide selection of items at affordable prices. Then again a question arises, that how can Wal-Mart afford to have such low prices? Perhaps one of the most important strengths of Wal-Mart is not even within their establishments. The unique logistics system ensures that the company can offer low prices while placing right products on the shelves of its stores and replenish them within the shortest time, as it is the largest retailer in the U.S. This organized network between hundreds of stores all around the world is able to meet their targets and goals due to most efficient and effective information system (Sloman, 2002).

With the help of information system Wal-Mart is able to coordinate with more than 85,000 suppliers, managing billions of Euros in inventories and carry the goods to the shelves of their stores. To streamline these tasks, Wal-Mart has created a network of 103 massive distribution centers. They are strategically placed around the country: no point of sale is more than a day at the roadside distribution centers. In fact, Wal-Mart received the nickname "king of logistics" for their ability to manage a net so wide. Regarding logistics, Sam Walton had always been a visionary man. It was so advanced that in the sixties he was able to foresee that to achieve the goals to ...