Supplier Diversity Programs are becoming a huge part of how major corporations do business. Companies like Xerox, WalMart, Time Warner, Sears and IBM have their own supplier diversity programs designed to connect these giants with top-notch diverse suppliers.
These companies know it’s smart to do business with qualified diverse suppliers because these smaller businesses are more nimble, faster and efficient than a large corporation. The smaller guy or gal can respond quickly, and keep their corporate buyers in touch with needs related to the growing purchasing power of the multi-cultural consumer market.
These supplier diversity programs have an interest in their supplier’s prosperity too. A major component of a successful supplier diversity program is small business development.
Here’s an example of that from Time Warner’s Supplier Diversity program:
The Supplier Diversity program is a mutually beneficial effort for Time Warner and diverse businesses. As Time Warner prospers, our goal is that these businesses will expand and prosper too.
We measure the success of Time Warner Supplier Diversity program efforts not only by the size of our dollar commitment to diverse vendors, but also by the general benefits of our employees’ commitment to help develop successful businesses.
Today we want to share an even wider view of what’s out there. Take a look at these 25 Corporate Supplier Diversity programs.
Archer Daniels Midland Company
Procter & Gamble