To be one of the 57,000 suppliers peddling their goods to the Wal-Mart franchise may be a small business owner’s dream. But even in the excitement of the moment, it is prudent to take a good look at the vendor agreement and understand what you and your business are contracting into.
Wal-Mart is known for its highly structured process of negotiating with suppliers and working to bring down the bottom line. The following tips are compiled from articles written to share the inside track with would-be suppliers standing in line to service the world’s largest retailer.
- The Perils of Supplying to Wal-Mart (BusinessWeek.com)
- Al Byrnes Column - Supply Chain Management in a Wal-Mart World (Harvard Business School)
- Why Wal-Mart Can Be Good For Small Business (U.S. News & World Report)
- Commonly Confused Contract Terms (FindLaw)
- Do’s and Don’ts: Contract Terms (FindLaw)
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