Walmart is rolling out its implementation of SAP financial tools globally after a successful pilot installation at Asda in the UK.
The retail giant will start to roll out its Profit project in Japan and Mexico in the coming months, following its first successful rollout at Asda in January 2008 and subsequent rollouts across Walmart's operations in the US, Canada and Puerto Rico three months ago.
"In connection with the second stage of that implementation, and coinciding with the improvements available in our new financial systems, the SAP implementation has given us the ability to improve our methodology for valuing inventory under the retail method of inventory accounting," said Carol Schumacher, vice president of investor relations for WalMart Stores.
The company admitted that it had experienced some challenges around change management during implementation, although nothing prevented the company successfully completing its monthly close processes during the quarter.
"The change management issues are being addressed and the new system is performing as designed," said Tom Schoewe, executive vice president and chief financial officer.
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