Walmart invests $ 350 billion in US-made goods

Over the next decade, Walmart said it would spend $ 350 billion on merchandise manufactured, grown or assembled in the U.S., according to a company post Wednesday (March 3) by President and CEO John Furner.

Furner estimates in the post that the addition of money will lead to the creation of more than 750,000 new U.S. jobs.

‘We have identified six priority categories to focus on: plastic; textiles; small electrical appliances; food processing; pharmaceutical and medical supplies; and non-resale goods (GNFR), ”Furner said in the post. “This commitment will have a number of consequences, including an estimated 100 million tonnes of CO2 emissions avoided by buying closer to our customers.”

Furner said in the report that Walmart will also increase spending and support for small to medium-sized enterprises (SMEs) and diverse suppliers and vendors based in the US. He also plans to give 9,000 entrepreneurs the chance to become Walmart. suppliers and sellers.

The “American lighthouses” project will help businesses in regions of the country with a barrier to production in the US, ‘Furner noted.

“By bringing together key regions and different stakeholders, we can make the supply chain more efficient,” Furner said in the post. “The goal is to bring back American manufacturing in a sustainable, long-term way.”

Walmart’s fourth-quarter revenue last month saw a 7.3 percent increase to $ 152.1 billion. The company said it intends to accelerate its investment in key digital areas and increase the capacity of automation and supply chain.

In a PYMNTS interview, Tony Uphoff, president and CEO of the discovery and product sourcing platform Thomas, said the pandemic was the biggest opportunity for U.S. manufacturers in 70 years.

He added that “if industry 4.0 starts to play out, you will see a renaissance and a boom in global manufacturing, but especially in North America, it will be dramatic.”