As a key to all retail enterprises survival and development, supply chain management has been on the priority lists of crucial aspects that are considered in the retail business world. It is the strategic and systematic coordination of all traditional business functions and all tactics that are used across these businesses functions within a company and businesses within the supply chain for improving long-term performances of individual companies in the supply chain (Lu, 2014) . Among all the publicly owned retail companies in the world, Wal-Mart has surpassed all when it comes to supply chain management. As a company founded in 1962 that caters for direct consumers, it has done more than was initially expected of it and has already dominated the retail force. Although it is an international company, it operates under banners of discount stores, neighborhood markets, supercenters and Sam's club warehouse membership clubs in the United States alone (Trujilo, 2016) . Despite facing several ups and downs in the retail market, Wal-Mart has been able to bring substantial changes in the retail market globally by mastering the art of supply management. As a company that mainly works in the interests of consumers, Wal-Mart focuses primarily on saving its customers money rather than improving its profit and loss statements, a tactic that has been highly effective on the average business individual.
The operations of Wal-mart are technologically advanced with an efficient supply chain management system. By mastering good distribution practices and managing inventories electronically, Wal-Mart has been able to keep track of what products that are needed, how much is required and when they are needed (Trujilo, 2016) . By doing this, Wal-Mart guarantees that all products that are required by its customers are always available at all times while keeping overhead costs to a minimum. Indeed, Wal-Mart is an example to all retail companies when it comes to the benefits of advanced technology and innovation n optimizing inventory management performance.
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One of the innovations that Wal-Mart has brought to supply management is its introduction and the effective implementation of the vendor-managed inventory model (Greenspan, 2017) . By using this model, suppliers of Wal-Mart are given the opportunity to access data from Wal-Mart’s information systems, which includes data on all current inventory levels and the rates at which certain goods are sold. By having all the information on all products in all Wal-Mart stores, suppliers can then decide on when they can send additional goods to all stores. Consequently, Wal-Mart monitors and controls products on transit from the warehouses to all its stores. This inventory is beneficial to the supply management in that it reduces delays in inventory movements across the supply chain, an advantage that is attainable only because suppliers are allowed to directly access data concerning inventory of products in Wal-Mart stores (RTInsights, 2016) . Moreover, the vendor-managed inventory model minimizes costs in the management activities of all stocks. On fact is that as a result of this model, Wal-Mart does not need spending extra personnel to manage the goods of each supplier as it instead passes this financial expense of human resource to its suppliers.
Additionally, Wal-Mart uses different methods to manage its finished goods, transit, buffer and anticipation inventories. It uses the just-in-time method which mainly involves minimizing storage to handle all its inventories. By using this method as a cross-docking method, Wal-Mart arranges for their trucks and those of suppliers to meet at designated company warehouses from where they transfer goods directly from supplier's vehicles to their trucks, which then delivers the goods to their stores (Greenspan, 2017) . By applying this method, the company can reduce the size of their inventories in that fewer good are stored in their warehouses. Moreover, this inventory is less costly to maintain as goods are delivered directly to the stores, a condition which enables Wal-Mart to efficiently respond to fluctuations in consumer demands and related market changes (Greenspan, 2017) .
By using high-tech information technology, Wal-Mart has been able to grow and further develop its supply chain management. Wal-Mart has forever used IT systems for its inventories, administrative, customer and suppliers management. It has invested more in technology starting with computerized accounting systems and has continuously adopted latest technologies. It developed a programmed Point of Sale System (POS) that enabled its managers to identify each unit of products sold (Lu, 2014) . Furthermore, this system allowed managers to create accurate sales receipt effectively a nd to store all information’s regarding item-by-item for analyzing sales and for reordering inventories. This system helped Wal-Mart to avoid overstocking products by effectively using information. Furthermore, it assisted the company in investing only in products that were profitable and preferred by customers. Consequently, the system helped Wal-Mart to figure out the products that were the best selling, a factor that has enabled them to have the most significant market share in addition to revenues in the retail industry (Lu, 2014) .
Since the most prioritized objective of Wal-Mart is to lower consumers prices, it has made technology an innovator in the manner in which its stores track inventory and restock their shelves, a factor that allows them to reduce costs. Technology is the foundation of Wal-Mart’s supply chain in that it enables Wal-Mart to forecast demand for products, create efficient transportation routes, track and predict inventory levels and manage the relationship and service response logistics of customers. One of these innovations consists of the implementation and the use of the Universal Product Code barcodes in all Wal-Mart stores (RTInsights, 2016) . This technology allowed all store level information’s to be collected immediately and afterward analyzed. Moreover, the company developed a retail link, large Bentonville database which connects to analysts who forecast the demands of suppliers to the supplier’s networks through a global satellite system.
Furthermore, this link displays real-time data from sales from cash registers and to the distribution centers of Wal-Mart. Consequently, suppliers and manufacturers that are within the supply chain can synchronize projections of demand under collaborative planning, forecasting and replenishment scheme. This entire links through the Supply chain are connected through technology which consists of a central database, store-level point-of-sale systems, and a satellite network. This technological innovation means that Wal-Mart has informal cooperation among its stores, distribution centers and suppliers which guarantees less centralized management control (Trujilo, 2016) . Additionally, by tracking the purchases and demands made by customers through its supply chain, the company allows customers to effectively pull their merchandise to stores and thus saves the company the time and money to push products onto shelves.
Consequently, Wal-Mart has employed the use of radio frequency identification tags (RFID) that mainly apply the use of numerical codes that are scanned from a distance for tracking goods that are moving along the supply chain. The RFID technology is mandatory to be handled by both Wal-Mart and its suppliers. Additionally, Wal-Mart employs the use of smart tags that are held by handheld scanners which allow its employees to quickly learn about the items that are to be replaced to enable consistent stocking of shelves (RTInsights, 2016) . Inventories are consequently closely watched this way. By using the RFID technology in its supply chain, Wal-Mart can reduce their out-of-stocks by 16 percent. Moreover, all products that use electronic codes can be replenished three times as fast as those items that make use of barcode technology.
In all retail business structures, messy inventories often lead to unsatisfied customers who cannot always find the specific good that they need. Products that result in a wasted paid time that is spent when associates try to track them down, an occurrence which eventually leads to a damaged reputation and lost revenue to Wal-Mart (Trujilo, 2016) . Therefore to avoid future incidents of situations like this, Wal-Mart launched the My Productivity app which allows all members of Wal-Mart’s management team to access real-time data directly from their smartphones. This advancement thus prevents managers from logging into a separate system to gain access to sales, warehouses, replenishment and other valuable data that allows for the efficient running of the business (Lu, 2014) . As EVP of central operations for Wal-Mart in the US states, “Gone are the days of managers having to disappear from sales floors for huge blocks of time" (Trujilo, 2016) . This new app introduced by Wal-Mart in their supply chain allows managers the time to restock products, access all sales in addition to answering the question by customers. Furthermore, they can review feedbacks that they get from the receipts of customers surveys when they are submitted. All this they do while in their respective locations, a massive change in Wal-Mart’s supply management system.
Consequently, Wal-Mart upgraded its real-time supplier data through a Supplier Portal Allowing Retail Coverage app (SPARC) which allows all its suppliers to have an overview of everything that is on its shelves at all times (Lu, 2014) . Furthermore, this will enable Wal-Mart to have optimal in-stock levels and therefore can eliminate excess inventories that always prove to be costly. Apart from the other benefits that the My Productivity app allows Wal-Mart, it also aims to provide managers with a clear and broader overview of the various streams that might affect the business operations of Wal-Mart (Trujilo, 2016) . This overall process has an effect of heightening customer experience for the better.
Wal-Mart has been considered a trendsetter in the retail industry as a result of its determination to achieve the impossible through modern technology. Once, it developed experimental stores in McKinney, Aurora and Las Vegas (Lu, 2014) . The stores were equipped with all kinds of technologies such as wind turbines, bio-fuel capable boilers, photovoltaic solar panels, xeriscape gardens and water-cooled refrigerators. Although these concepts received a considerable amount of critic regarding environmental issues, this initiative came to be considered a positive step towards change and innovation in supply management as it enabled them to become the largest seller of organic milk (RTInsights, 2016) . Furthermore, they also became the largest buyers of organic cotton globally, and they additionally reduced packaging and energy costs.
Moreover, Wal-Mart is working towards developing projects that bring out the best of wireless technology. The company has a vision of establishing a remote system that will allow their customers to walk into any Wal-Mart store and use their electronic devices to purchase whatever they want (Lu, 2014) . Moreover, they want to ensure that their customer services and shopping environments are top notches in addition to providing valuable products, an online shopping platform that is convenient to all customers and to maintain good customer relations. Consequently, Wal-Mart has placed forth a strategic plan of allowing self-service. Through this, they will be able to eliminate paper and paper forms, and by having associate portal and devices on their sales floors, they will enable customers and their members to have access to information that will facilitate them to make sales that are assisted by computers. Moreover, to evaluate new technologies, Wal-Mart has encompassed itself in the research and development labs of their key suppliers to have current knowledge of the latest techniques in the markets and thus be able to set a pace for their future (Trujilo, 2016) . A plan for Wal-Mart is to be able to deploy simulation software that will help them to simulate business events that have not happened yet by using advanced forecasting techniques and further integrating different technologies together.
References
Greenspan, R. (2017, March 25). Walmart: Inventory Management. Retrieved June 2018, from Panmore Institute: http://panmore.com/walmart-inventory-management
Lu, C. (2014, Dec 5). Incredibly Successful Supply Chain Management: How Does Walmart Do It? Retrieved June 2018, from Supply Chain247: https://www.supplychain247.com/article/incredibly_successful_supply_chain_management_how_does_walmart_do_it
RTInsights. (2016, June 13). How a Walmart App Speeds Inventory Control. Retrieved June 2018, from insights: Walmart Is Addressing Inventory Problems With a New System
Trujilo, P. (2016, November 15). Walmart Is Addressing Inventory Problems With a New System. Retrieved June 2018, from Wasp barcode: http://www.waspbarcode.com/buzz/walmart-2/
