Posted at 6:36 AM
Ford Motor Company announced recently that it had exceeded its supplier diversity sourcing goal, purchasing $4.1 billion in goods and services from minority-and women-owned companies.
The success of Ford’s supplier diversity efforts illustrates how valuable minority-owned business enterprises are to our country’s top companies and our economy overall. From heavy equipment to financial services, no matter what the demands of your supply chain are, there’s a minority-owned firm that can fulfill them. In fact, the number of high-quality minority-owned businesses spread across every sector of the economy totals 5.8 million.
To better assist corporate America in locating minority business enterprises with scale and capacity, supplier diversity executives should put the Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce, on speed dial. MBDA can help you find these firms and put you in contact with them so you can establish the kinds of profitable partnerships that more and more Fortune 500 companies are seeking out. In 2010, with the help of the MBDA network of business centers, MBDA helped the private sector secure more than $850 million in products and services from minority firms.
So, leverage the growing power of U.S. minority-owned businesses as part of your winning strategy for the 21st century global economy. With the help of our MBDA Business Centers located throughout the country, we can match your company with a minority-owned supplier tailored to suit your needs.