Because of its scale as the world's biggest retailer, Walmart can save millions of dollars by making even the slightest tweaks to how it runs its business.
The retailer said it will save $60 million annually by changing how it buys shopping bags.Bloomberg | Gettycan save millions of dollars by making even the slightest tweaks to how it runs its business.
It will save $60 million annually by changing its process for buying shopping bags, CFO Brett Biggs said Tuesday, during a meeting with investors in New York. It is also cutting the cost of the vests its workers wear by 15% by making them out of recyclable materials, he said. And Walmart is on track to save $100 million annually by centralizing how it maintains the equipment in its stores to be more energy efficient, according to Biggs.
"You can take a lot of small projects. ... You can scale them across the business, and they can lead to impressive savings," the CFO explained. "We are bending the curve on expenses."
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