What is Diversity Procurement?
Diversity Procurement is the Power of Leveraging Diverse Suppliers Through Strategic Sourcing Initiatives to Meet the Cost, Quality and Delivery Expectations of Stakeholders Worldwide.
The Corporate Diversity Procurement (CDP) Vision:
To promote cross-cultural competencies across the enterprise by leveraging global diverse supplier relationships through strategic sourcing initiatives to meet the cost, quality and delivery expectation of stakeholders worldwide.
The CDP Mission:
"Our mission is to strengthen the ability of Cummins' business units to win at critical hand-offs in the supply chain. We raise global awareness by promoting economic development within the communities in which we live and work. We will leverage the diversity procurement initiative by:
- Fostering innovation
- Exceeding customer requirements
- Promoting global growth and competitiveness
"Only those companies that are diverse, and that manage Diversity well, will be competitive in the 21st Century." (1) A key piece of that management is Diversity Procurement.
Our corporate objective is to achieve $1 billion in diverse purchases throughout our U.S. supply chain. This reflects not only our goals, but also our customers' goals to increase the inclusion of diverse suppliers.
- Increase opportunities for minority, women-owned, HUBZone, service disable veteran-owned, small disadvantaged businesses, LGBT-owned, small businesses, and veteran owned businesses to participate in furnishing products and services to the company.
- Help these firms establish a mutually profitable business relationship with Cummins Inc.
- Maximize volume of products and services that the company purchases from minority, women-owned, HUBZone and small businesses.
- Set annual diverse spend targets for all Business Units
- Identify the top diverse spend opportunities
- Create a detailed process for linking diverse suppliers with Low Cost Country sourcing
- Include Diversity Procurement training in the standard curriculum
- Conduct benchmarking activities
- Increase Cummins participation and active involvement in minority trade shows, conventions and organizations