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Cody Schutte Product Development and Commercialization In the supply chain, product development and commercialization are important for the development and marketability of new products that a company wants to put forth. One company that is able to continuously develop products and promote them to the consumers is Walmart. The overall management of new products, while maintaining existing products, is how Walmart is able to stay atop the retail space. While Walmart continues to develop new products and ideas to commercialize them, they put the majority of their time and effort in their sales and marketing of the company and its vision. Walmart utilizes the ideology of “To save money and live better.” This coincides with the Every Day Low Price strategy. This strategy has allowed Walmart to be so successful. Walmart is able to take everyday items and develop them for the everyday consumer. With Walmart being the fastest growing brand in the world, they are able to develop and commercialize products better than anyone else. Walmart had developed their brand into various store configurations. These store configurations are Walmart Supercenter, Walmart Discount Store, and Walmart Neighborhood Market. While developing new products Walmart is able to transform their services to cater to certain needs of the consumer(s). Walmart has developed “sustainability index to measure the life cycle of its products on sales.” This is a large step in product development by providing the data that can be analyzed for creating or sustaining a product that Walmart is producing/selling. "Product, Brand And New Product Of Walmart". T2 2016 MPK732 MARKETING MANAGEMENT (CLUSTER B) , 2016, https://mpk732t22016clusterb.wordpress.com/2016/08/24/product- brand-and-new-product-of-walmart/ . Accessed 29 Apr 2023.

Returns Management The last part of the supply chain is after the consumer has purchased an item and does not feel satisfied or no longer has a purpose for it. Often seen as the start of the reverse supply chain, return management is a crucial step in the supply chain. This process is focused on returns, reverse logistics, gatekeeping, etc. Returns come in all forms such as consumer, marketing, asset, product recalls, and environmental. Why may seem like a small part of the supply chain, it actually consumes about ten to twelve percent of the chain. Walmart has generated some movement in the return retail space. Especially during the holiday season, a company like Walmart wants to implement some strategic plans to help keep the returns a breeze for the consumer and the company as well. Their focus is to simplify the online returns for consumers. By filling out the return label online, the consumer is able to make a return and gather all the correct information in one location. They have also simplified their in-store returns. Walmart has introduced a “Mobile Express Returns” section of their app. Walmart is approaching the “reverse logistics” with a simple strategy, reduce the friction and minimize the possible problems that could arise. Senior vice president of Walmart Services and Digital Acceleration, Walmart U.S. Daniel Eckert stated that “We know that returning an item and waiting for a refund, especially for a product purchased online, isn’t always seamless, so we’ve completely transformed the process for our customers – whether they are shopping in stores or at Walmart.com” A study done by InfoScout, Walmart Pay now ranks as the Number Two mobile wallet. Making a return with Walmart has never been easier with their Mobile Express on their app. "How To Approach Reverse Logistics Like Walmart". Smart Returns , 2023, https://smartreturns.com/how-to-approach-reverse-logistics-like-walmart/ . Accessed 29 Apr 2023.

Staff, 24/7. “Walmart Reinvents the Returns Process as Amazon Tries to Play Catch-Up.” Supply Chain 24/7 , 9 Oct. 2017, https://www.supplychain247.com/article/walmart_reinvents_the_returns_process_amazon_ plays_catch_up .

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