Walmart changed the way it buys shopping bags and saved $60 million—and that's just one way it cut costs

The retailer said it will save $60 million annually by changing how it buys shopping bags.Bloomberg | Gettycan save millions of dollars by making even the slightest tweaks to how it runs its business.

It will save $60 million annually by changing its process for buying shopping bags, CFO Brett Biggs said Tuesday, during a meeting with investors in New York. It is also cutting the cost of the vests its workers wear by 15% by making them out of recyclable materials, he said. And Walmart is on track to save $100 million annually by centralizing how it maintains the equipment in its stores to be more energy efficient, according to Biggs.

"You can take a lot of small projects. ... You can scale them across the business, and they can lead to impressive savings," the CFO explained. "We are bending the curve on expenses."

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