Walmart to Acquire Volt Systems, Bolster Supply Management

Walmart announced Friday (Aug. 5) that it is set to acquire tech company Volt Systems, with the purchase giving suppliers greater visibility into merchandising resources.

The application provides store-level data, actionable analytics and shelf intelligence, letting suppliers “plan, forecast and optimize product assortment,” the company said in a press release. It will also offer customers a more seamless shopping experience, aiming to reduce issues caused by out of stock items.

“The deal affirms Walmart’s continued investment in technology and innovation that enables us to better anticipate customer demand,” Walmart said in its announcement. “We are acquiring Volt Systems outright, including the company, talent, technology, and customer agreements.”

Walmart has been undergoing some other changes lately, having recently cut 200 corporate jobs as it plans to refocus its business on new areas.

PYMNTS wrote that the company was “restructuring” its merchandising, global tech and real estate teams, though it was looking to create new roles in other areas deemed more profitable.

Read more: Walmart Cuts Jobs at Corporate, Braces for Sales Slowdown

The retailer also recently lowered its sales and earnings forecasts for both the third quarter and the full year, as inflation continues to hit record highs and the wider economy faces numerous headwinds.

Walmart tried to remedy the problem by marking down surplus items, but as many consumers have been trying to cut back on spending, the move didn’t end up helping much. The company was also the most recent blue chip to cut down on payroll, as tech giants like Microsoft and Facebook parent Meta are looking at pulling back on their own hirings.

See also: Walmart-Owned Massmart Can’t Overcome Pandemic, Inflation, Other Hurdles

In addition, Massmart, a South Africa-based Walmart subsidiary, is facing its own problems, including restrictions and lockdowns from COVID breakouts, as well as supply chain problems that have plagued companies globally.

Mitchell Slape, the CEO of Massmart, was charged with turning the retailer around in 2019 and has been at the helm throughout the pandemic.

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