Ford Motor Company announced today that it exceeded its supplier diversity sourcing goals by purchasing $4.1 billion in goods and services from its tier-one minority- and women-owned business enterprises in 2010.
The increase from $2.7 billion in 2009 reflects higher vehicle production volumes, expanded sourcing to existing suppliers and the addition of several new minority- and women-owned businesses.
In addition, Ford's tier-one suppliers spent $1.29 billion with tier-two minority- and women-owned businesses in 2010, an increase from $1.02 billion in 2009.
"Ford Motor Company takes very seriously its commitment to developing and growing a diverse supply base," said Tony Brown, group vice president, Global Purchasing. "These companies offer a wealth of innovation, and if we are to remain competitive, it is imperative that we connect with the best of the best. Not only does this strengthen our supply network, it creates jobs and economic growth for the communities that we serve."
The $4.1 billion spent in 2010 surpasses Ford's annual goal of sourcing more than 10 percent of its U.S. production and non-production business with diverse suppliers.
Ford's Supplier Diversity Development program represents a commitment to providing a broad range of supplier opportunities and resources. Ford understands the value of ensuring that its suppliers represent all segments of the business community, and mirror those communities in which it does business. Ford's Supplier Diversity Development Office works with business leaders, trade associations and community-based organizations that represent the interests of diverse businesses to empower communities through economic development.
"Our suppliers are of paramount importance to our success as a company and in serving our diverse customer base," said Carla-Traci Preston, director, Supplier Diversity Development. "At Ford, we are strongly committed to maintaining qualified and certified minority- and women-owned businesses."
Developing the next generation of diverse business leaders is an important part of a healthy, diverse supplier network. As part of this week's Michigan Minority Procurement Conference at Cobo Conference Center in Detroit, Ford and the Michigan Minority Supplier Development Council (MMSDC) are sponsoring the MMSDC Ford Diversity Internship Program. More than 70 high school juniors and seniors from schools throughout Metro Detroit are interviewing with minority- and women-owned businesses that will provide internships and mentoring to more than 20 students this summer.
"This is an opportunity to match some of the best and brightest high school juniors and seniors throughout Metro Detroit with minority- and women-owned companies," said Preston. "These students represent the next generation of diverse business leaders who have the potential to significantly impact the future of our state, nation and the global economy."
Ford's longstanding commitment to supplier diversity has been recognized this year by a number of diversity publications and organizations:
-- Corporation of the Year, Michigan Minority Supplier Development Council
-- Top Supplier Diversity Program, Professional Women's Magazine
-- Top Supplier Diversity Program, Black EOE Journal
-- Corporation of the Year, Asian Pacific American Chamber of Commerce (APACC)
-- Ford ranked No. 5, Diversity Inc. Supplier Diversity
-- Ford ranked within the top 50 organizations in the U.S. for multicultural business opportunities, DiversityBusiness.com
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- Koch Brothers Took Genes, Money in Different Directions
- Rocket Explodes During U.S. Test Flight
- Short-Term Loans Comes at a Heavy Price
- Is Diversity in the Eye of the Beholder?
- Apple Stock Bounces Back Big Time
- 'Mythbusters' Build Team Gets the Boot
- Jennifer Lopez Would Marry Again
- Florida Judge Rules in Favor of GOP Voter Map
- Investors Betting on ECB Stimulus Measures