Supplier diversity is integral to our global integrated supply chain strategy. It is consistent with our values, enhances our competitiveness and capacity building, drives market connectivity and creates jobs and economic growth in the marketplace. Our supplier diversity program embraces suppliers who are at least 51% owned, operated and controlled by minorities, women, veterans, LGBTQ individuals or people with disabilities.
We focus on four pillars:
- Increased utilization of diverse suppliers
- Supplier development and mentoring
- Strategic outreach
- Program globalization
Our innovative process identifies and pre-qualifies diverse-owned businesses to ensure a robust pipeline of diversity for procurement opportunities. The seven-step strategic sourcing process includes a Supplier Diversity Matrix, which enables us to avoid using price as the primary driver for supplier selection. Instead, we consider a range of factors as agreed upon by a cross-functional team, including supplier diversity, quality and risk. This program has improved our supplier diversity scores by 18%. Engagement with minority-owned business improved, with more than $12 million awarded in new business from participating corporations. In 2020, we plan to go even further and engage with TriState Council to create and deliver a continuation of these growth opportunities in a program called COE NEXT.
|Supplier Diversity Data|
|We purchased $532 million in goods and services from diverse-owned businesses in 2019, an 18.75% increase from 2018.|
|Since the inception of the program, we have purchased more than $2.6 billion in goods and services from diverse-owned businesses in the United States.|
Supporting Women Business Enterprises
Through our 2016 commitment to WEConnect International, we are expanding inclusive sourcing by collectively spending $15 billion with women-owned businesses globally through 2021. This year, we reported $311 million global spend with women-owned businesses, which reflects a 22.9% increase over prior year results. We are committed to creating an environmentally and socially sustainable supply chain, recognizing that inclusion of women-owned businesses promotes innovation and enables women to build wealth and sustainable prosperity in their communities around the world.
Bold Commitments. Tangible Progress.
Teaming up with the VisAbility ERG
In 2019, our Supplier Diversity program teamed up with our VisAbility Employee Resource Group (ERG) to support Disability:IN, a network of more than 160 corporations devoted to expanding opportunities for people with disabilities across enterprises. In addition to hosting their statewide conference at our headquarters in Davidson, North Carolina, our associates participated on planning committees and spoke at events. One of the sessions, called “What College Students with Disabilities Want Your Corporation to Know,” helped disability-owned businesses manage the certification process to do business with major corporations and break down barriers to entry.