Walmart is Acquiring Volt Systems to Enhance Customer Experiences
Colin Smith — August 10, 2022 — Business
References: linkedin & drugstorenews
Walmart announced that it is acquiring 'Volt Systems,' a St Louis-based technology company that specializes in business and retail management solutions. As a result of this acquisition, Walmart stated that it will enhance its merchandise management and resource management systems by generating real-time, current store-level data. This system will provide actionable analytics for each individual Walmart store, as well as statistics for the company as a whole.
By integrating this store-wide smart system, Walmart hopes to smoothen the experience for in-store and online shoppers alike by reducing the amount of consumer woes related to out-of-stock products. The service will ensure that no item is falsely labeled "in-stock" when it is out of stock, and that no readily available in-demand item frequently falls out of stock. Walmart did not disclose the financial details of this acquisition.
Image Credit: Shutterstock
By integrating this store-wide smart system, Walmart hopes to smoothen the experience for in-store and online shoppers alike by reducing the amount of consumer woes related to out-of-stock products. The service will ensure that no item is falsely labeled "in-stock" when it is out of stock, and that no readily available in-demand item frequently falls out of stock. Walmart did not disclose the financial details of this acquisition.
Image Credit: Shutterstock
Trend Themes
1. Real-time Analytics - Integrating Volt Systems into Walmart's operations opens up the opportunity for real-time, store-level data usage to bolster their in-store and online customer experiences.
2. Merchandise Management Solutions - Walmart's acquisition of Volt Systems will lead to optimized resource management systems, providing more accurate information to help stores better maintain inventory levels.
3. Improved Customer Experiences - By reducing in-store inventory issues that lead to customer frustration, this acquisition enables Walmart to move towards providing an overall smoother shopping experience at Walmart stores.
Industry Implications
1. Retail Management Software - As Walmart acquires Volt Systems, the retail management software industry should consider opportunities to develop real-time, store-level data analytics solutions to make inventory and resource management more efficient.
2. Business Intelligence - This acquisition highlights the importance of business intelligence in retail, particularly in identifying and responding to customer needs in real-time.
3. Supply Chain Management - Supply chain management is key to meeting customer demands in stores and online, and this acquisition underscores the importance of streamlining supply chain operations to improve customer experiences with less out-of-stock items.
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