Walmart invests $ 350 billion in products made in the United States

Over the next decade, Walmart has said it will spend $ 350 billion on goods that are manufactured, grown or assembled in the United States, according to a post on Wednesday, March 3, from President and CEO John Furner.

Furner estimated in the post that the infusion of money would lead to the creation of more than 750,000 new American jobs.

“We have identified six priority categories to focus on: plastics; textiles; small electrical appliances; food preparation; pharmaceutical and medical supplies; and goods not for resale (GNFR), ”Furner said in the post. “This commitment will mean some additional impacts, including approximately 100 million metric tonnes of CO2 emissions avoided by sourcing closer to our customers.”

Furner said in his article that Walmart will also increase spending and support for small and medium-sized businesses (SMBs) and various suppliers and vendors based in the U.S. In addition, he plans to give 9,000 entrepreneurs the chance to become Walmart. suppliers and vendors.

The “American Lighthouses” project will help companies in areas of the country with “top-down barriers to American production,” Furner noted in the post.

“By bringing together key regions and various stakeholders, we can make the supply chain more efficient,” Furner said in the post. “The goal is to bring manufacturing back to the United States in a sustainable and long-term fashion.”

Walmart’s fourth-quarter earnings release last month showed a 7.3% revenue increase to $ 152.1 billion. The company said it plans to accelerate investments in key digital areas and increase automation and supply chain capacity.

In an interview with PYMNTS, Tony Uphoff, chairman and CEO of the Thomas Product Provisioning and Supplier Discovery Platform, said the pandemic was the biggest opportunity for U.S. manufacturers in 70 years.

He added that “as Industry 4.0 begins to develop you are going to see a renaissance and resurgence in global manufacturing, but especially in North America it is going to be dramatic.”