CNBC AI News – July 7th: Yonghui Superstores has declared war on corruption and backroom dealings, issuing a public letter vowing to eliminate illicit practices within its operations.
Specifically, Yonghui Superstores is taking a firm stance against ” backdoor” entries and “unspoken rules” in its vendor onboarding process. All supplier collaborations must now be initiated through the official Yonghui website or a designated QR code. The company has explicitly forbidden any employee, including management, from privately recommending vendors. To ensure transparency and efficiency, cooperation applications will be processed within 24 hours, with the entire journey from registration and negotiation to contract signing conducted online, thereby eliminating the potential for human intervention.
The public letter also highlighted the significant progress of Yonghui’s store revitalization efforts, often referred to as the “Pang Dong Lai” model transformation. Since the initiative began in June 2024, 128 Yonghui Superstores nationwide have undergone this remodeling. The retail giant’s adoption of the Pang Dong Lai model has garnered considerable attention, especially following the immense popularity of the latter. For consumers, Yonghui offers a more accessible alternative to visiting a distant Pang Dong Lai store.
According to Yonghui, these “Pang-transformed” stores have experienced substantial year-on-year sales growth and a marked improvement in customer satisfaction. The current roadmap for the Pang Dong Lai model transformation is ambitious, with projections to have 200 stores nationwide revamped and their product structures aligned to 80% of Pang Dong Lai’s by September 30th of this year.
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