State Fund sponsored a Supplier Diversity Summit in April to encourage minority-owned suppliers to do business with us that included:
The event also focused on educating suppliers about the benefits of becoming certified by nationally recognized organizations for supplier diversity. As a Certified Diverse supplier, a vendor has access to the most current list of supplier diversity and procurement executives at the helm of major U.S. Corporations, including federal, state, and local government entities along with being added to their respective databases.
Since 2014, State Fund continues to make a concerted effort to increase the diversity of its vendors. In 2015 we spent $38.9 million with minority-owned suppliers, a 49% increase over the prior year. Overall, certified MBEs showed the most growth. To achieve greater supplier diversity, State Fund is working to include more DVBE and LGBT business representation.
Why is supplier diversity important?
It develops key relationships by helping to create brand loyalty between State Fund and our increasingly diverse customer base. Supplier diversity also:
To submit bids as a minority-owned business, suppliers must meet certification requirements through agencies that work directly with minorities, women, LGBTEs, and disabled veterans. For information about becoming certified to participate in our Supplier Diversity Initiative and to learn more about our partnered organizations, please visit our web page.
