Supplier Diversity
Whitsons Sourcing and Procurement Diversity Practices
DIVERSITY COMMITMENT
Whitsons actively seeks diverse suppliers who share our commitment to promoting diversity. We value suppliers who support our mission and are willing to participate in our sourcing and procurement process. We believe that a diverse supplier base enhances our business, drives innovation, and contributes positively to the communities we operate in.
As a NMSDC-certified minority-owned company, we hold diversity as core value integral to our business operations. Fostering a diverse supplier ecosystem not only aligns with our mission but also strengthens our products, services, and the communities we serve. Whitsons is committed to supplier diversity and the inclusion of minority and women owned businesses (MWBEs) in our supply chain. We believe that supplier diversity is good for business, good for the community, and good for the environment. This outlines our commitment to diversity in our sourcing and procurement processes.
MUTUAL BENEFIT AND RESPECT
We strive to create mutually beneficial business relationships with diverse suppliers. We respect and honor the culture and worth that each vendor partner brings to the table. Together, we believe we are stronger in empowering a diverse community, and we aim to build partnerships that reflect these values.
SUPPLIER SELECTION CRITERIA
Diverse suppliers that demonstrate the ability to add value to our company are actively sought after to be included in our sourcing and procurement process. We evaluate potential suppliers based on the following criteria:
- Value Addition: Suppliers must offer goods and services that add value to our operations and contribute to our mission.
- Quality: High-quality goods and services that meet or exceed industry standards are paramount to our selection process.
- Competitive Pricing: Suppliers should provide competitive pricing that ensures our investments deliver value.
- Reliability: We prioritize suppliers who consistently deliver on time and meet our supply chain needs.
- Alignment with Strategic Business Model: Suppliers' products and services should align with our strategic business model and goals.
GOALS
We will achieve our supplier diversity goals by:
- Developing and maintaining a supplier diversity database.
- Conducting supplier diversity outreach and education.
- Partnering with MWBE organizations.
- Using procurement incentives to encourage MWBE participation.
We believe that supplier diversity is a win-win for everyone. It helps us to create a more equitable and inclusive supply chain, it strengthens our local economy, and it helps us to achieve our sustainability goals.
INNOVATION
We also believe that working with suppliers of diverse backgrounds fosters innovation. We actively encourage diverse suppliers to introduce new products and solutions that can provide us with a competitive advantage. We are committed to passing on the benefits of this innovation to our customers.
CONTINUOUS IMPROVEMENT
We are committed to continuous improvement in our sourcing and procurement processes. We will regularly assess and evaluate the performance of our diverse suppliers, seeking feedback from both sides, to identify areas for improvement and address any challenges that may arise.
COMMUNICATION AND COLLABORATION
Effective communication is essential to successful partnerships. We maintain open lines of communication and actively collaborate with our diverse suppliers to achieve common goals.
At Whitsons, we are dedicated to building a diverse supplier network that not only enhances our business but also contributes positively to the communities we serve. We are committed to diversity in our sourcing and procurement practices.