What are the secrets of Wal-Marts success?
There are many secrets, but let me just focus on one issue; that is, their control of logistics. So their leadership, particularly their post-[Sam] Walton leadership … had the wisdom to hire logistics people who are very, very competent. And basically, they gained control over the supply chain. That was their goal, and they put in information technology that enabled them to collect it and disperse this information. They have the largest commercial satellite system in the world. They have satellites that are collecting information and beaming it down to their vendors. … So the idea is to master the process of production, movement of the goods, warehousing of the goods, making sure that it arrives at the right place at the right time. That’s what Wal-Mart is so good at. And they’re very good at squeezing the price out of that. So they insist that it be done cheaply, it be done accurately, it be done quickly. And they determine what it is they want and when they want it? Yes, I believ
