November 11, 2004

How to Become a WM Supplier

Sterling Wright gives us the skinny on how to become a supplier to the largest retailer in the world. Points seven and eight are independently interesting:

(7) Always place your bid at the lowest cost possible. Wal-Mart always makes decisions based on cost. If you can save them money, you have there attention. Remember you can make more money on output.

(8) If you are a minority owned business don't pitch only on your minority status. Make sure that you have an expanded portfolio of products and services that save money and time at the end of the day. Or, they had better make them money. Make sure that you are international in scope. Remember you want to do business not only in the U.S., but in Latin American, Europe, and China. By being internationl, you can offer a strategic partnership. More importantly, Wal-Mart biggest parts are in Latin America and China. There is money to be made in both markets.

Posted by Kevin on November, 11 2004 at 06:23 AM