Per Fox Business
Walmart wants two-thirds of stores to be automated by 2026 to improve costs per unit by about 20%
4/5/2023
Walmart is planning a huge automation drive for the majority of its stores. By 2026, the retailer giant wants 65% of its stores to be serviced by automated supply chains to improve costs per unit by about 20% potentially.
The company's press release revealed its plans for automation and "more intelligent software." The company also wants to improve its in-stock inventory accuracy and flow.
"Through its extensive work, Walmart is reengineering its supply chain to fulfill customer needs with a more intelligent and connected omnichannel network that is enabled by greater use of data, more intelligent software and automation,"
Aside from Walmart's plans to service most of its stores with automation, it also wants 55% of its fulfillment centers to move "through automated facilities."
The goal was for its average costs per unit to improve by around 20%. So far, it's noted that Walmart has 1.7 million employees, making it the United States' biggest private-sector employer.
"Over time, the company anticipates increased throughput per person, due to the automation while maintaining or even increasing its number of associates as new roles are created,"
Walmart President and CEO Doug McMillon also discussed the situation, sharing where tech plays within the company.
McMillon: "We are a people-led, tech-powered omnichannel retailer... We serve our associates by creating opportunities. Opportunities that turn jobs into careers."
Towards the end of 2022, McDonald's launched its first fully automated fast food restaurant in Texas. The entire experience didn't require any interaction for customers allowing them to order without any conversation with another human.
Regarding retail, Cathie Woods once said that Amazon workers could be surpassed by robots in 2030. She said that by that year, Amazon might have more robots than human employees.
The Ark Invest CEO also noted that the company could increase its use of robots in Amazon's workplace.
See flow at unusualwhales.com/flow.
Other News:
- McDonald's launches its first fully automated fast food restaurant
- Cathie Wood says Amazon workers could be surpassed by robots in 2030
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