Read below from companies in the healthcare, food, and beauty industries on why an inclusive supply chain is important to them.
Healthcare: Medtronic shares why they implemented supplier diversity efforts in their supply chain in this Wallstreet article from Jan 2023. Reasons are job creation and wealth opportunity, benefitting underserved communities and increases innovation: https://www.wallstreet-online.de/nachricht/16442196-why-supplier-diversity-matters
Retail / Food: Albertsons Companies Continues Search for Diverse Suppliers; Monique Lanaux, General Vice President and Chief Talent and Diversity Officer at Albertsons says, ”We believe that when we support and work with underrepresented businesses, we create an inviting grocery store experience that brings people together around the joys of food … Diverse suppliers enable us to continually deliver product innovation and cultural relevance to our shelves, ensuring our curated local assortments are inclusive of the diverse communities we proudly serve.” The retailer is bolstering its robust network of suppliers, revealing its annual application process for certified diverse-owned suppliers and welcoming applications from diverse owners interested in having their products considered for one or more of Albertsons’ banners. https://www.delimarketnews.com/buyside-news/albertsons-companies-continues-search-diverse-suppliers-monique-lanaux-comments/peggy-packer/wed-01252023-0854/14895
Beauty; Mary Kay is committed to supplier diversity programs and gender-responsive sourcing as powerful strategies for inclusive, sustainable growth. ”Investing in women-owned businesses and including them in the global supply chain is not only the right thing to do, it’s also a smart move for companies. When female suppliers win more business, their families, local communities and national economies benefit. Studies show that women entrepreneurs tend to reinvest up to 90% of their earnings in their families and communities, directly linking inclusive economic growth to development. Women entrepreneurs must be equal in competing for contract opportunities,” said Virginie Naigeon-Malek, Mary Kay Inc. global head of sustainability and social impact. Article in German: https://www.businesswire.com/news/home/20221019005913/de/
Onboarding suppliers is always a challenge. The following are good examples of how small and medium-sized companies can be integrated into the supply chain of a global company:
Logistics; FedEx’s agreement with the Shippo platform will give smaller e-commerce businesses access to lower shipping rates usually available only to large companies.”We’re thrilled to expand our relationship and continue to team with Shippo to make shipping better and easier for small and mid-sized businesses,” said Ryan Kelly, vice president of marketing at FedEx. https://www.supplychaindive.com/news/fedex-shippo-agreement-expands-access-ground-economy-delivery-discounts/641524/
Retail / Fashion – Logistics; Two business units from within logistics giant UPS and famous retail brand GAP are combining their expertise to offer “unmatched automation and supply chain capabilities” to apparel and footwear merchants. The companies say their new offering will enable mall and medium-sized businesses (SMBs) to benefit from capabilities “previously only available to billion-dollar brands”. Steve Denton, CEO of Ware2Go, says: “The future of fulfillment looks like SMBs owning zero warehouses. bOur merchants want to remain focused on growing their business and product portfolios, and not worry about the ins-and-outs of their inventory placement or building up a labor workforce to support peak season. This collaboration makes it easier than ever before for SMBs to outsource their fulfillment while still accessing incredible customer support and deep transparency into their inventory placements and delivery times.”https://roboticsandautomationnews.com/2023/02/03/ups-and-gap-units-partner-to-offer-unmatched-automation-and-supply-chain-capabilities-to-apparel-merchants/59881/
Real Estate: As part of the Commercial Real Estate Diverse Supplier (CREDS) Consortium, Nareit and other real estate organizations are joining with SupplierGATEWAY to increase diversity, equity, and inclusion (DEI) across the CRE industry supply chain: https://www.reit.com/news/blog/nareit-developments/new-program-enables-reits-increase-use-diverse-service-providers
These are some actions that can be taken. What action are you taking to build a more inclusive supply chain in your company?