Cincinnati-based consumer goods giant Procter & Gamble has been praised for 30 years’ commitment to increasing economic opportunities for minority- and women-owned businesses by the National Minority Business Council (NMBC), which yesterday presented the company with the “Outstanding Corporate Support Award”.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
John F. Robinson, president and CEO of NMBC, commented during its 22nd Annual Awards Luncheon: “P&G has demonstrated exceptional leadership in procurement from minority- and women-owned businesses with its efforts to make the minority business community stronger.
“P&G has incorporated its commitment to economic inclusion of minority businesses into its business growth strategy, which demonstrates its dedication to enrich and support our communities.”
Each year, NMBC recognizes a select number of US corporations for their initiatives that support diversity and advance economic opportunities for small, minority- and women-owned businesses.
P&G began its supplier diversity program in 1972, spending US$44,000 among six suppliers, and in the past 10 years has spent US$3bn with a network of over 1,250 minority- and women-owned suppliers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIcy Williams, associate director, supplier diversity at P&G, said: “We take special pride in being recognized as a leader for an initiative that is so important to us. For three decades, we have been creating jobs, providing opportunity, and enabling economic self-sufficiency. Supplier diversity has and will continue to be an integral part of P&G’s effort to meet consumers’ needs, support America’s communities, and grow our brands.”
By 2005, P&G expects to spend over US$1bn or 11% of its procurement budget with minority- and women-owned businesses, making the company a member of the supplier diversity industry’s Billion Dollar Roundtable (BDR). The BDR, sponsored by Minority Business News USA in conjunction with Women’s Enterprise Magazine, is a group of corporations that spend over US$1bn annually with minority enterprises.
