Walmart wasn't built on conventional wisdom. It was built on an entirely new strategy for growing a retail company.
Building a Business
By the end of the 1960s, Walmart had a core management team and a dynamic plan for growth. In 1968, Sam attended an IBM computer class for executives to learn how to use this new technology in operating his business. The next year, Walmart purchased its first computer system to track sales and inventories. What’s selling? What’s not? What needs to be ordered, marked down, replaced? Sam also hired a full-time pilot to help scout locations for new stores and for distribution centers to keep the stores supplied. Walmart’s retail operations were up and running, ready to support an expanding network of stores.
We started out swimming upstream, and it’s made us strong and lean and alert. … We sure don’t see any reason now to turn around and join the rest of the pack headed down current.
When customers thought of Walmart, they should think of low prices and satisfaction guaranteed … they wouldn’t find it cheaper anywhere else, and if they didn’t like it, they could bring it back.