Over the next 10 years, Walmart will spend an additional $250 billion on U.S.-made products as part of its commitment to domestic manufacturing and American jobs. With this initiative top of mind, Walmart will be hosting the first ever domestic manufacturing Open Call Summit on July 8, 2014 in Bentonville, Arkansas.
Current suppliers that want to present new categories will be featured alongside suppliers with U.S. manufacturing capabilities who are currently not doing business with Walmart. They’ll have a chance to meet with senior leaders, buyers and Walmart executives. Typically the vendor rooms are open by appointment only — so this is the first time that Walmart has put out an open invitation to all suppliers — to come on one specific day. They’re expecting hundreds of companies to attend and pitch their products.
The Open Call Summit will be focused on new business development on products and categories that are made or grown in the US. Applicants will be evaluated on the ability of their items to meet Walmart customer needs including:
- Product: design, quality and innovation
- Price: competitive costing, value, EDLP (Every Day Low Prices)
- Strategic fit within merchandising strategy
- Ability to execute: production, logistics, etc.
For applicants, proposed items must be able to qualify as U.S. Country of Origin $3m+ in annual cost shipments (suppliers with less than $3m in revenue may be interested in Walmart’s Local Supplier Program). The review process will close on June 6, 2014 — if applicants are selected for the Summit, they will be notified by June 17, 2014.