The International Housewares Association (IHA) name Wal-Mart Stores, Inc., the third annual gia World Honoree. The company will be presented with the award at a special gia gala in Chicago during the 2008 International Home and Housewares Show, March 16-18, 2008. Gia honors retailing excellence around the world.
Selected because of its superior global logistics and operations and highly efficient inventory management, Wal-Mart has succeeded at combining technology and world-class retailing, while remaining true to its mission of saving people money so they can live better, according to gia. Wal-Mart has more than 6000 store locations around the world, according to gia, a joint initiative of the International Housewares Association and the International Home and Housewares Show
Among the strategies behind Wal-Mart’s winning logistics program recognized by gia is a store density strategy with an expertly formulated stocking system. For example, Wal-Mart builds new stores close to existing stores to reduce shipping and delivery. The company also keeps in-store inventory low, relying on frequent restocking from its distribution centers, which are typically within 250 miles from the stores they service.
Wal-Mart also hopes to further improve inventory management at its Wal-Mart stores and Sam’s Clubs by staying on the leading edge of electronic product code testing and implementation. And as one of the first companies to put supply chain management at the forefront of its enterprise, Wal-Mart’s warehousing lowers storage and handling costs, which in turn, allows the company to pass savings on to its customers.
In addition, according to gia, Wal-Mart realized that it could further reduce operating costs by eliminating waste and becoming a more sustainable company. In as such, the company has focused on reducing energy consumption. Wal-Mart is striving to achieve a 20% energy reduction by 2012 for its existing stores, and 25% to 30% energy reduction for stores built after 2009.
In addition, as the company announced in 2005, it hopes to cut greenhouse gases from stores and distribution centers by 20% and make its trucking operations 25% more fuel-efficient over the coming three years.