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Kelly P. Kissel / AP

Wal-Mart will begin fining its suppliers for deliveries that are late, early or incomplete, Bloomberg reports. The goal is to make sure everything customers might want is fully stocked. The retail giant predicts the plan will bring in $1 billion in additional revenue.

The company hopes its suppliers will deliver on time and in full 95% of the time to avoid fines. Currently, big suppliers like Procter & Gamble and Unilever meet schedules about 10% of the time. In a presentation to suppliers obtained by Bloomberg, Wal-Mart said: "The goals are aggressive and will require new ways of working."

Why it matters: Wal-Mart is under pressure to compete with Amazon after the rival company bought Whole Foods and expanded its footprint in brick-and-mortar retail. Pressing suppliers to make sure products are always available is one way to please customers and keep them at Wal-Mart.

Go deeper

Updated 2 hours ago - Politics & Policy

Key government agency says Biden transition can formally begin

General Services Administrator Emily Murphy. Photo: Alex Edelman/CNP/Getty Images

General Services Administrator Emily Murphy said in a letter to President-elect Joe Biden on Monday that she has determined the transition from the Trump administration can formally begin.

Why it matters: Murphy, a Trump appointee, had come under fire for delaying the so-called "ascertainment" and withholding the funds and information needed for the transition to begin while Trump's legal challenges played out.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Vaccines: Key information about the effective COVID-19 vaccines — Oxford and AstraZeneca's vaccine won't just go to rich countries.
  2. Health: U.S. coronavirus hospitalizations keep breaking recordsWhy we're numb to 250,000 deaths.
  3. World: England to impose stricter regional systemU.S. hotspots far outpacing Europe's — Portugal to ban domestic travel for national holidays.
  4. Economy: The biggest pandemic labor market drags.
  5. Sports: Coronavirus precautions leave college basketball schedule in flux.

Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.