Final answer:
Walmart has been able to reduce prices and add value through its focus on **supply chain management** (option d) functions. They utilize **RFID** technology and economies of scale to streamline their supply chain and lower costs. This allows them to pass savings on to customers in the form of lower prices.
Step-by-step explanation:
One of the ways that Walmart has been able to reduce the prices of its products and add value to its customers is by its continuing focus on streamlining all its supply chain management functions. Supply chain management involves the coordination and optimization of various activities including procurement, production, transportation, and distribution to ensure that the right products are delivered to the right place at the right time.
Walmart has achieved cost savings and efficiency by implementing technologies like RFID (radio-frequency identification) that help improve inventory management and reduce costs associated with stockouts and overstocks. By optimizing its supply chain, Walmart is able to minimize costs and pass those savings on to its customers in the form of lower prices.
For example, Walmart's efficient supply chain management allows it to order products in large quantities, taking advantage of economies of scale, which leads to lower unit costs. Additionally, Walmart's streamlined supply chain reduces the overall lead time from the point of order to the point of sale, enabling the company to respond quickly to changes in customer demand and minimize inventory holding costs.