If you’re new to working with Walmart, we know you’ve got lots of questions about processes and expectations. We’re here to help you! For a free consultation, click to set up a call with 5G Consulting.
If you’re a new supplier to Walmart or thinking of applying, here’s the quick answer to your question: YES, Walmart requires a DUNS number from suppliers!
Now that you know you’ll need one (or at least need to know what your company DUNS number is before approaching Walmart), let’s look at what a DUNS number is, why it’s required, and how it works for your business.
What Is a DUNS Number?
A DUNS number is a unique nine-digit identifier for suppliers and businesses, which is issued by the Dun & Bradstreet credit bureau. The acronym “DUNS” stands for Data Universal Numbering System.
The DUNS number has become the standard numbering system to identify businesses world-wide.
Where Do I find my DUNS Number?
A DUNS number is usually automatically set up for your business after you create your business tradelines. Business tradelines include your small business loan, vendor account, business credit cards, etc.
If you don’t know your company’s DUNS number, you can look it up for free. Dun & Bradstreet provides a lookup tool on their website. Click here to go straight to the D&B lookup tool. You can search for your DUNS number using other company information.
How Do I Get a DUNS Number?
Here’s the good news: applying for a DUNS number is simple and free! In fact, your business does not have to operate with a formal legal structure to qualify for a DUNS number. However, if you have plans to create a corporation or LLC, it is better to do so prior to building your business credit. This will ensure accounts you want credited will be reported under your business name and reflected with your new DUNS number.
To apply for your free DUNS number, you simply need to go to the Dun & Bradstreet website and follow the simple instructions. Be prepared to submit some basic business information. Once you submit your request, it can take up to 30 business days to receive your DUNS number. If you need it sooner, the process can be expedited for a fee.
Why Do I Need a DUNS Number?
Companies like Walmart require suppliers to have DUNS numbers for a variety of reasons:
Business Credit
A DUNS number is connected to the credit profile Dun & Bradstreet builds on your company. At the time retailers like Walmart request your business credit profile, they will want to review your company’s credit history. This is how they decide to offer your business net-30 terms or other kinds of trade credit. They are able to review all the information from your DUNS number. This is also the case for other forms of business financing, such as credit cards and loans.
Better Retailer Negotiations
Your business DUNS number supports the strong credit of your company. By using the DUNS number, you could be eligible for trade credit. What this means is you could purchase supplies your company needs and pay for them at a later date out of your future cash flow. The better your credit score via the DUNS number, the better the terms you can negotiate with retailers and other suppliers.
Business Credit Only, Not Personal
For a small business owner, establishing a DUNS number keeps business credit separate from your personal credit in a background check. If a potential business partner or lender reviews your company credit and can’t find a credit file, they can require a personal credit check.
Learn More From 5G!
Acquiring a DUNS number is one small step in the process to working with Walmart. If you have more questions or need assistance in bringing your products to the in-store and online shelves, our team can help!
5G Consulting helps suppliers each week with supply chain, marketing strategies, ecommerce, lowering deductions, and more. We can assist you in your Walmart partnership to generate more revenue while keeping production costs low.
A consultation is absolutely FREE! Click here to set up a call with our team to learn more.