Wal-Mart

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Wal-Mart

A very large discount retail store chain. Wal-Mart is one of the largest corporations in the world. The first Wal-Mart was established in 1962. It was one of the first companies to practice the just-in-time supply chain management system in order to reduce costs to a minimum. Wal-Mart's founder, Sam Walton, was one of the first retailers to always buy from the lowest priced wholesaler; this drove sales higher, which allowed Wal-Mart to negotiate still lower prices from wholesalers. This practice, while controversial, became a staple of Wal-Mart. It is based in Bentonville, Arkansas.
References in periodicals archive ?
Other well-known international names in the list include Citibank, Deutsche Bank, Google, Hong Kong Disneyland, Malaysian Airlines, Microsoft, Pizza Hut, Proctor&Gamble, Qantas, Telecom Malaysia, Volkswagen and Wal-Mart Asia.
has appointed Scott Price to the posts of executive vice president and president and chief executive officer of Wal-Mart Asia, effective October 15.
"Through Walmart's investment in India, including our cash and carry business, supply chain infrastructure, direct farm program and supplier development, we want to serve India and its people," Scott Price, chief executive of Wal-Mart Asia said in a statement last week.
"If you look at China and India, they represent probably two of the very few countries in the world where there is a chance in the future to end with more stores in those countries than we have here in our home market, "Scott Price, CEO and president of Wal-Mart Asia, said during the October meeting for analysts.
For the past year Trim was president and CEO of Wal-Mart Asia. Before that he headed the company's operations in Brazil for 11 years.
Craig Herkert, for example, is president and chief executive officer of Wal-Mart Americas, encompassing North, Central and South America, while Vicente Trius, who was president and CEO of Wal-Mart Brazil, was appointed to the new position of president and CEO of Wal-Mart Asia in January.
has created a new position in its International division and named Vicente Trius president and chief executive officer of Wal-Mart Asia. Trius had been president and CEO of Wal-Mart Brazil since 1997.
The man behind Wal-Mart's China initiative is company veteran Joe Hatfield, the executive who has headed up Wal-Mart Asia since the retailer entered China 11 years ago.
In October, for example, the company's Wal-Mart Asia subsidiary announced plans to build a new logistics center in China's Yangtze River Delta, its third such facility in that country, even though it has only about 50 stores there.
They are: John Menzer, president and chief executive officer of Wal-Mart International; Joe Hatfield, president of Wal-Mart Asia; Jeff McAllister, senior vice president of Wal-Mart International Holdings; Craig Herkert, executive vice president and chief operating officer of Wal-Mart International; and Greg Penner, senior vice president and chief financial officer of Wal-Mart International Holdings, Japan.
In September Joe Hatfield, president and chief executive officer of Wal-Mart Asia, was granted the 2004 Friendship Award by the State Administration of Foreign Experts Affairs, a national award given to outstanding foreign experts who have made major contributions to China's modernization.
They are: John Menzer, president and chief executive officer of Wal-Mart International; Joe Hatfield, president of Wal-Mart Asia: Jeff McAllister, senior vice president of Wal-Mart International Holdings; Craig Herkert, executive vice president and chief operating officer of Wal-Mart International: and Greg Penner, senior vice president and chief financial officer of Wal-Mart International Holdings, Japan.