Here's How Walmart Is Using Artificial Intelligence to Keep Prices Low
Major retailers have a lot of power over vendors. A chain like Walmart (NYSE: WMT) can, for example, go to a medium-sized vendor and ask it to cut prices by 2% or lose some of its shelf space.
That's typical and it helps keeps prices low for consumers. It's also challenging to keep track of for a company operating on the scale Walmart does. To help with that, the retail giant has reached a deal to pilot technology from Pactum to help it negotiate contracts with some of its vendors.
A Walmart before the time of social distancing. Image source: Walmart.
Source Fool.com
