What does Wal-Mart and the United States government have in common? Answer: buying power. According to USAspending.gov, the U.S. government spends more than $500 billion in products and services each year from roughly 230,000 different companies. It is the world’s largest buyer of goods and services. Wal-Mart is the world’s largest consumer products retailer, buying roughly $300 billion each year in products it sells in retail stores from more than 100,000 different companies.
The U.S. government and Wal-Mart’s buying power are influential in setting the stage for corporate social responsibility requirements. According to Information Management, the U.S. government and Wal-Mart will begin phasing in corporate social responsibility requirements for their suppliers and vendors over the next few years. Read more at Utah Business Magazine.Share