Strengthening Our Business Through Diverse Suppliers
This week, we were honored to receive the Distinguished Supplier Diversity Award from the U.S. Department of Commerce's Minority Business Development Agency (MBDA).
The Department presents this award to an individual or organization whose business practices have had a significant impact on the growth and development of minority-owned firms.
Supplier Diversity is closely linked to our Purpose of providing products of superior quality and value that improve the lives of consumers, now and for generations to come. It has also been a business strategy at P&G for more than 30 years.
By hiring employees, partners, and suppliers who reflect the diversity of the consumers we serve—and who live in the same communities as they do—we can create innovative products and services that meet the needs of people around the world.
The U.S. Department of Commerce had this to say about the role minority-owned businesses play in the U.S. economy:
“With enterprises that include everything from Main Street cornerstones that sustain communities to global firms that drive innovation in the industries of tomorrow, these businesses employ almost 6 million U.S. residents and contribute $1 trillion to the economy every year.”
We agree that minority business development is an important capability, and that our supplier base should reflect the diversity we value. Today, we do business with about 850 minority businesses that provide us with products and services that range from ingredients and packaging, to information technologies, construction, marketing, and logistics.
For the past six consecutive years, we've spent over $2 billion USD with minority and women-owned suppliers.
Rick Hughes, our Chief Purchasing Officer, had these remarks when he accepted the award on P&G’s behalf:
“The variety of companies that make up our supply bases provides a richness and range of capabilities that enhance our ability to meet consumers’ needs and deliver demonstrable competitive advantage to our business clients.”
We salute the many P&Gers who help strengthen our relationships with diverse suppliers every day so that, together, we can meet the needs of more consumers around the world.
Pictured are: Penny Pritzker, Secretary of Commerce; Rick Hughes, P&G Chief Purchasing Officer; and David Hinson, Director of Minority Business Development Agency - Department of Commerce.