Diverse suppliers are good for business and the community

  1. How did you come to lead supplier diversity at JPMorgan Chase, and what inspired you to get
    involved in this work?

    I’ve been at JPMorgan Chase for seven years and most of my career has been dedicated to
    building business programs that drive economic growth. One of the most rewarding parts of my
    job is working with underrepresented businesses to make sure they have the tools they need to
    succeed. At JPMorgan Chase, supplier diversity is just one way we make dreams possible for
    these diverse business owners, their employees, and their communities.
  2. Why should companies prioritize supplier diversity?
    Supplier diversity provides companies with access to innovation. Diverse suppliers bring new
    perspectives and solutions to business problems. They also know how to operate efficiently with
    limited resources and are agile to suit different business needs. In addition, supplier diversity
    generates wealth in diverse communities. Diverse suppliers tend to hire within their local areas,
    providing jobs and incomes, lifting the overall economy. A prosperous and thriving community is
    good for everyone.
  3. How are you re-thinking supplier diversity? What is JPMorgan Chase doing differently?
    An important component of supplier diversity is supplier development. Small and
    underrepresented businesses often don’t have access to the same resources, financing and
    contacts that large majority-owned companies do. Building deeper relationships with these
    businesses enables us to identify other ways to support their growth, including creating
    connections to networks that lead to contract opportunities, capital and other resources.
  4. How are you amplifying the impact of supplier diversity across the wider business

    We have mobilized over 100 of our top suppliers to mirror the firm’s commitment to supplier
    diversity by creating and enhancing their own supplier diversity programs. Through mentoring,
    coaching and education, we help these companies develop and operate their own sustainable
    supplier diversity programs, which will generate opportunity and growth for decades.
    The results speak for themselves: 85% of the businesses enrolled in our mentorship program
    launched new supplier diversity programs in 2022. Additionally, over the last two years, nearly
    90% of our top suppliers have committed to spending increases generating more than $6 billion
    in new spend with underrepresented businesses.
  5. How would a diverse business get started working with large companies like JPMorgan Chase?For businesses interested in providing services to companies in the private sector, the best first
    step is to become certified by a diverse business certifying organization. While many business
    owners are familiar with government diversity certifications, there are also certifications
    recognized by private-sector corporations, such as the National Minority Supplier Development
    Council or the Women’s Business Enterprise National Council. These organizations can also help
    connect businesses with prospective corporate clients via conferences, seminars and webinars –
    all designed to provide business owners with information and enable them to meet and network
    with corporate executives.
    In addition, companies with active supplier diversity programs often have online registration
    portals through which they invite business owners to share their company history and
    capabilities. JPMorgan Chase has a Supplier Diversity Network, which is a searchable database
    for our supplier diversity and sourcing teams to find new diverse businesses when contract
    opportunities come up.
  1. Are there any final thoughts?
    Supplier diversity programs are good for any business, and they have a powerful positive impact
    on employees, families, and communities. It’s an honor to work with diverse businesses to
    provide jobs, lift local economies, and make dreams come true.