The modern business world is characterized by the level of rivalry humanity has never seen before. The appearance of new business ventures combined with the conditions beneficial for the evolution of small and medium businesses resulted in the unique significance of competitive advantage that will be able to guarantee a companys rise and further evolution. Besides, numerous ways could help to acquire an advantageous position and improve a companys functioning. That is why at the moment we could observe a diversity of tools and remedies explored to win the rivalry and obtain revenues. Besides, the efficiency of the given methods determines the final result and outcomes. For instance, a well-known company Walmart is one of the leaders of the segment. Yet, it managed to obtain its leading positions due to several innovative approaches that impacted the creation of competitive advantage.
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Thus. Walmart is an American multinational retailing corporation that incorporates a chain of hypermarkets, grocery, and other stores (Reich, 2016). Moreover, it is the worlds largest company if to speak about revenues. Its incomes come from the unique approach created by the top managers and its officials. Additionally, it is extremely popular with its target audience. These facts contribute to a stable and high level of income. The given stable companys position comes from several innovations implemented to increase the efficiency of its most crucial aspects.
First, being a giant retailer, Walmart has a great need for transportation. Millions of goods have to be delivered to different regions in the world. In this regard, this aspect should be concerned with one of the basic elements impacting the outcomes. That is why the company does not explore the services of numerous corporate carriers as in that case it will become too dependent on the factor Walmart is not able to control. Instead, it managed to create its fleet of vehicles. This unusual approach resulted in the extreme rise in the efficiency of operations related to delivery and transportation (Bisk, n.d.). The company does not have to pay external agents and, which is even more important, it can introduce any demands or specifications to guarantee clients satisfaction and contribute to the unique flexibility o the company.
Another element of Walmarts supply chain is the wide usage of technologies that could improve its functioning greatly. Technology plays a crucial role in Walmarts rise as it serves as its basic component. Statistics show that the corporation has the largest information technology infrastructure among all private companies in the world. (Lu, n.d.). This fact results in the companys ability to perform numerous tasks and spend less than others when performing different tasks. Additionally, the usage of innovations might also increase the efficiency of the above-mentioned aspect, manage customer relations, and create a unique logistics net. The company is the first to use Universal Product Code bar codes which provide store-level information for specialists who analyze the companys functioning (Lu, n.d.).
Finally, Walmart widely uses warehouse automation equipment to guarantee the high level of the efficiency of numerous processes and attain significant improvement of the brands image (Reich, 2016). Besides, the combination of technologies, new and efficient vehicle fleet, combined with the outstanding usage of innovative software contribute to positive final results and help the company to preserve its unique significant advantage In case the tendency towards the usage of unconventional approaches is continued, it will remain the leader in the given sphere.
Bisk. (n.d.). Walmart: Keys to successful supply chain management. Web.
Lu, C. (n.d.). Walmart’s successful supply chain management. Web.
Reich, A. (2016). Walmart’s consumer redlining. Contexts, 15(4), 74-77. Web.