Walmart (NYSE:WMT) announced a partnership with ThomasNet to help its vendors find U.S. suppliers to manufacture their products. The deal with the database operator is part of the retailer's plan to sell $250 billion worth of U.S.-made products by 2023.
Walmart hopes to overcome some of the obstacles its suppliers have faced in the past few years as they try to shift back from overseas makers to production in the United States, Reuters reported.
ThomasNet has designed a corporate database of more than 500,000 suppliers, exclusively for Walmart. The company will supply suppliers and vendors with a customer service team to follow up on bids for goods.
"A lot of small suppliers are afraid to do business with large companies because of all the hurdles they have to overcome to do so," ThomasNet VP Tom Greco told Reuters. "This should help bridge the gap."
The announcement comes in the wake of Walmart's second Open Call, which happened this week near its headquarters in Bentonville, Arkansas. The big-box retailer held two days of pitch meetings with vendors in an effort to build new partnerships with suppliers of "Made in the USA" products.
-See this Reuters article
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