Whole Foods Market, Inc. (NASDAQ:WFM) partners with Infor to create a cloud-based platform for retail industry

Whole Foods Market, Inc. (NASDAQ:WFM) and Infor are getting together to try to breath technology into merchandising and supply chain systems in the retail industry. The two companies are working on a cloud-based platform that will initially benefit Whole Foods and later other retailers on issues of improved traceability, accountability and responsibility in the supply chain. As for Whole Foods, the platform being worked on will help it unify its largely fragmented retail structure that resulted from multiple acquisitions.

Whole Foods Market, Inc. (NASDAQ:WFM) has figured out that it can beat competition by turning to technology to improve its back-end. The company is facing competitive pressure from such names as Costco Wholesale Corporation (NASDAQ:COST), Sprouts Farmers Market Inc (NASDAQ:SFL) and Trader Joe in the organic foods category.

Bringing out the difference in Whole Foods

According to Whole Foods’ co-CEO, Walter Robb, the collaboration with Infor is more about highlighting the uniqueness of Whole Foods. It has come to the attention of Whole Foods officials that customers these days think that experience is the same regardless of where they buy organic food. However, there is a difference according to Robb, and that is why the company has partnered with Infor to help bring to the fore its unique features.

For example, the technology that is being developed will enable Whole Foods Market, Inc. (NASDAQ:WFM) customers to get such details as when the vegetable they are buying were harvested. Moreover, the system will make it easy and fast for WFM to communicate insights to its suppliers as part of strengthening supply chain accountability.

WFM as the guinea pig

Infor will be using Whole Foods Market, Inc. (NASDAQ:WFM) as the lab to develop the platform aimed at increasing supply chain visibility in the retail space. As such, the technology will be made available to other retails once it is ready.

Whole Foods has mostly embraced store front technology, tapping into solutions such as Apple Inc. (NASDAQ:AAPL)’s Apple Pay and Instacart. However, the company is looking to technologically reform its backend, which remains fragmented thanks to the multiple acquisitions it has made over the years.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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