Wal-Mart Gets Into the B-School Biz

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As the world’s largest corporation, Wal-Mart is famous for the influence they have over their vendors. And if you’re going to work for a Wal-Mart supplier, you need skills. Solid understanding of the retail business and cutting edge data analysis skills are required. And who better to school you? Smiley himself.

High Tech Retail Requires Special Skills

Wal-Mart suppliers use sophisticated software programs to access to sales data online in real time. Suppliers need account reps who can make constant decisions about the information they receive. Under-performing sellers must be replaced with new items based on the numbers.

Basic category management skills for Wal-Mart suppliers include the ability to work with software programs like RetailLink and ProSpace as well as the analytical skills to use the date received. Students use technology to optimize allocation of products, identify inventory problems, design displays, and instantly see the effects of changes.

Growing Talent Through Targeted Education

Wal-Mart requires its suppliers to maintain an office near their headquarters in Bentonville, Arkansas. Having all that talent in one geographic area pays off. Wal-Mart has worked closely with retail experts from among their suppliers and Northwest Arkansas Community College (NWACC) to design education targeted at training potential retail analysts.

NWACC provides software training as well as education in other aspects of Category Management needed for the new world of retail. The program is designed to appeal to those beginning their retail career as well as those looking to change fields or expand their retail knowledge. Fortune 500 companies hire from the pool of analysts who have received education in he retail business, including advanced computer and statistical skills.

Marketing Analyst Certification

NWACC’s Marketing Analyst Program prepares students for the retail industry. In addition to core business classes like accounting and economics, retail students take classes with titles like Merchandising and Data Analysis, Retail Fundamentals, and Internet Resourcing. These customized courses are taught by working professionals in the Wal-Mart vendor community. Students in the certificate program are taught key software programs, such as RetailLink, with the emphasis on practical business case studies.

According to Marshall McCall, Executive Director of Retail Programs, as of January 2008, new student enrollment had more than doubled when compared to the same semester of the prior year. This spring there are 213 students enrolled.
“The enrollments also speak to the quality of real-life instruction provided by the instructors, all of whom are members of the retail community here in northwest Arkansas,” McCall said.

Success Breeds Partnership

In October, 2007, the Wal-Mart Foundation contributed $600,000 to NWACC to help create a new associate’s degree in business management with a retail emphasis. This expanded on the certificate program to provide a sound business education foundation with a focus on retail management and marketing. Students complete four certificates within the degree: retail management, business ethics, quantitative analysis (statistics), and communications.

The retail program benefits the world beyond Wal-Mart too. The skills leaned there are applicable to careers in real estate, marketing, human resources, finance, and information technology. What’s next WBS – Wal-Mart Business School? It may not be far away. In the meantime, if you want to break into retail – get yourself to Arkansas and enroll in community college.