Department of Fashion Technology
National Institute of Fashion Technology, Kangra
1st May ’2012
* Wal-Mart Stores, Inc. (NYSE: WMT), branded as Walmart since 2008 and Wal*Mart before then, is an American multinational retailer corporation that runs chains of large discount department stores and warehouse stores. * The company is the world's 18th largest public corporation, according to the Forbes Global 2000 list, and the largest public corporation when ranked by revenue. * It is also the biggest private employer in the world with over two million employees, and is the largest retailer in the world. * The company is controlled by the Walton family which owns 48% stake in Wal-Mart
Wal-Mart towards sustainability and Indexes
2012 GLOBAL RESPONSIBILITY REPORT
The 2012 Global Responsibility Report highlights:
* Performance of all their global markets;
* Efforts taking place from an associate, environmental, and social responsibility perspective; * Walmart’s continued progress toward its three aspirational goals
Wal-Mart’s 3 aspirational goals
Their customers desire products that are more efficient, last longer and perform better. They want to know the product’s entire lifecycle. They want to know the materials in the product are safe, that it is made well and is produced in a responsible way. These desires inspired them to help develop the sustainability index. With this initiative, they are helping to create a more transparent supply chain, accelerate the adoption of best practices and drive product innovation and ultimately providing their customers with information they need to assess products’ sustainability.
The index is being introduced in three phases:
Step 1: Supplier Sustainability Assessment
They provided their more than 100,000 global suppliers with a brief survey to evaluate their own sustainability. The survey, taken by their top-tier suppliers by October 1, 2009, represents a key step toward enhancing transparency in their supply chain. They are continuing to roll out this assessment in their international markets. Step 2: Lifecycle Analysis Database
Second, they are working with The Sustainability Consortium to collaborate with suppliers, retailers, non-governmental organizations (NGOs) and government officials to conduct research and develop data and tools that will enable research-driven product sustainability measurement and reporting. The Consortium will help develop a global database of information on products’ lifecycles – from raw materials to disposal. They provided initial funding for the Sustainability Index Consortium and invite other retailers and suppliers to contribute. Arizona State University and the University of Arkansas will jointly administer the consortium. Step 3: A Simple Tool for Customers
The final step of the index is to improve the sustainability performance of the produces our customers prefer. Their objective includes the development of merchant tools that will help their merchants understand and improve the sustainability of their products. Ultimately, they will provide customers with information about products in a simple, easy-to-understand manner, helping them save money while they help their families, and the world, live better.
SUSTAINABLE VALUE NETWORKS
Their Sustainable Value Networks (SVNs) help integrate sustainable practices into all parts of their business. Developing solutions — together
SVNs bring together leaders from their company, supplier companies, academia, government, and non-governmental organizations (NGOs.) Together, they explore challenges, develop solutions that benefits their business, as well as local and global communities. Positive changes
Their SVNs have unleashed a wealth of innovation and insight, resulting in numerous positive changes to our business operations. They have become more...