$3B
Total amount of goods and services purchased from diverse-owned businesses since inception of supplier diversity program in 2013
$380.4M
Total amount of goods and services purchased in 2020 from diverse-owned businesses in the U.S.
18.8%
Year-over-year increase in spend on women-owned businesses since 2020
At Trane Technologies, we recognize the value of diversity in our supply chain. We believe in maintaining a corporate culture of mutual respect, cross collaboration and inclusion that drives growth and innovation while making a positive impact in the lives of our customers.
We are committed to working with minority-owned, women-owned, veteran-owned, LGBTQ-owned businesses, and businesses owned by people with disabilities. In 2020 we added 103 new diverse suppliers, representing $4.3M in spend. We are not only committed to growing our business with diverse suppliers, but also to developing and mentoring them to build stronger partnerships and enhanced capabilities.
We focus on three pillars:
Our Procurement Process
Our innovative procurement process identifies and prequalifies diverse-owned businesses to ensure a robust pipeline for procurement opportunities. The strategic sourcing process includes a Supplier Decision Matrix, which enables us to avoid using price as the primary driver for supplier selection. Instead, we consider a range of factors, including supplier diversity, quality, and risk. Our plans to launch the COE NEXT mentor program are on hold until face-to-face meetings are possible.
In 2020, we partnered with the Tri-state Minority Supplier Development Council and several teams within Trane Technologies Procurement Operations to develop and deliver virtual training to minority-owned businesses. The sessions focused on supplier quality, supply chain risks, and sustainability. Also, together with the Tri-state Council we hosted The Hackett Group in presenting their latest supplier diversity benchmark study to more than 83 corporations nationwide.
Supplier Diversity Data
|
Our supplier diversity score in 2020 was 4.25, a 2% increase from 2019.*
|
|
We purchased $380.4 million in goods and services from diverse-owned businesses in 2020.
|
|
Since the inception of the program in 2013, we have purchased more than $3 billion in goods and services from diverse-owned businesses in the U.S.
|
|
In 2020, our spend on diverse-owned businesses was 6.0%, a year-over-year increase of 11.1% and our spend on women-owned businesses was 3.8%, a year-over-year increase of 18.8%.
|
* We measure our program against the National Minority Supplier Development Council’s eight best practices. Scores are 0 to 5.
English