Wal-Mart Makes Plans to Improve energy efficiency, ethical standard compliance, supply chain management.
Wired PR News.com — Wal-Mart has announced plans to improve energy efficiency by implementing a new set of standards for dealing with suppliers in China, as reported by Newsweek. The retail giant has grown to become the largest retailer in the world, and is reportedly searching for ways in which they can reduce costs as well as have a more positive impact on the environment. The new strategy for energy reduction and improvements in maintaining high ethical standards will be applied to interactions with suppliers in China, and later to all suppliers the company deals with.
The three main areas of focus for creating a more responsible sourcing model include strategies for improvements in energy efficiency, ethical standard compliance, and supply chain management. Wal-Mart provided details of their plans at a recent summit in Beijing where approximately 600 suppliers were in attendance.
Companies everywhere are taking measures to properly deal with current issues related to the economic and environmental distress that has affected many on a global scale.