Wal-Mart committed to buying US manufactured products
US retail giant Wal-Mart has revealed that it will be more readily pursuing a policy of supporting US manufacturing firms by purchasing US manufactured goods.
The firm put forward a further $250bn until 2023 that will be used to support American jobs through the purchase of US manufactured products.
“American manufacturers are essential to building and maintaining a robust economy,” said Dan Bartlett, Walmart Vice President for Corporate Affairs, speaking to Dayton Daily News about the program.
“We are committed to doing our part to support American manufacturers and the U.S. based jobs they create by continuing to source more U.S. made products and we want to do more.”
Wal-Mart’s initiative, “A policy roadmap to renew US manufacturing” has been running since 2013, and after four years is now geared towards ensuring that government and industry leaders work together to ensure that the US manufacturing sector continues to flourish.
“By investing in products that support American jobs, we are able to bring new products to our shelves that our customers want and new jobs to the communities we serve,” said Greg Foran, President and CEO of Wal-Mart US.
“Increasing domestic manufacturing will help create additional jobs in the US, and that’s good for American businesses.”
The company’s policy roadmap includes 10 policy actions, including tax reform and trade agreements, that it believes need to be worked towards.
SAP Whitepaper: Advantages of Intelligent Assets
A core pillar in SAP’s Industry 4.0 strategy, Intelligent Assets equip organisations to reduce downtime, empower employees and increase efficiencies across industrial equipment and manufacturing units.
In a whitepaper produced in partnership between SAP and BizClik Media Group, Rachel Romanoski, Solutions Manager, Digital Assets, SAP, dispels some of the myths surrounding asset intelligent, and shares insight into how even small investment in asset intelligence can pay dividends in minimising cost leakage and realising an asset’s potential.
As with all innovations, the ceiling for Intelligent Assets is as high as an organisation can dream, afford and implement. But Romanoski says that just a little intelligence can go a long way: “Oftentimes people think Intelligent Assets need to be the latest and greatest cutting-edge technology. They can be super advanced, such as leveraging physics-based engineering simulations to forecast potential failures, and help mitigate them. But it could be as simple as a temperature reading. You can pull a lot of simple information from most equipment, and by enhancing that data through ancillary solutions and digital capabilities, you can create that Intelligent Asset.”
One of the most immediate benefits is reducing or, in some cases, eliminating unplanned downtime. Equipment failure is one of the most common causes of disruption and can cause chaos throughout the supply chain.
“The true power of the Intelligent Asset is in changing the basic, reactive emergency work or time-based, planned maintenance and being more prescriptive and tailored to that specific asset and use case,” Romanoski says. “Ultimately, you can reduce the unplanned events that often carry a big price tag.”
"Oftentimes people think Intelligent Assets need to be the latest and greatest cutting-edge technology... But it could be as simple as a temperature reading"
Other financial benefits include stemming cost leakage and “sweating assets” to the full potential. “Maybe you can consider the lifecycle of the asset and understand whether you can push it a little bit further,” Romanoski explains. “It might be that the best course of action for a low-cost item is to run it to failure. Having this information that we collect over time empowers those people to make those better decisions, but also has a trickle down effect to building resiliency and efficiency into the entire supply chain.”
To read the full report, including insight from Intelligent Assets, Intelligent Factories, Empowered People, and exclusive insight from Dominik Metzger, the lead on SAP’s Industry 4.0 programme, CLICK HERE.