Newspaper Page Text
Procter & Gamble sets supplier
diversity goal to spend $1.5 billion
CINCINNATI
The Procter & Gamble Com
pany (NYSE: PG) has an
nounced its commitment to
spend sl.sbillion with minor
ity and women suppliers an
nually by 2005, making P&G
eligible to join the supplier
diversity industry's Billion
Dollar Roundtable (BDR). The
BbDR is a new initiative spon
sored by Minority Business
News U.S.A., in conjunction
with Women’s Enterprise
Magazine, which includes an
elite group of corporations
that spend more than $1 bil
lion annually with minority
and women-owned businesses.
“The supplier diversity
spending goal P&G has set
continues to underscore our
commitment to economic in
clusion of minority businesses
aspartofourbusiness growth
strategy,” said Gary Simpson,
vice president Global Baby
Care, Product Supply, P&G.
“While we spend nearly $1
billion with minority and
women suppliers today, we
will steadily grow that num
ber by 15 percent each year
until 2005.”
P&G made the announce
ment during the annual con
ference of the National Mi
nority Supplier Development
Council which was held in
Atlanta October 28-31, 2001.
Currently, minority or
women-owned business enter
prises play key roles in the
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testing, productionor product
packaging process of many of
P&G’s more than 250 con
sumer brand products, includ
ing, but not limited to: Tide,
Pringles, Bounty, Charmin,
Folgers, Crest, Pampers,
Tampax, Dryel, Always,
Metamucil, Gain, and Cheer.
“With minority populations
oftoday quickly becoming the
majority of the population to
morrow, we see a competitive
advantage in increasing our
business with entities that
reflect our country’s diverse
consumers,” said Daryl
todnett. group manager, P&G
Supplier Diversity Develop
ment. “By doingbusiness with
diverse suppliers we also gain
key insights into consumer
behaviorand preferencesasa
value-add to the quality ser
vicesour suppliers are already
providing.”
According to the latest data
released by the U.S. Census
Bureau, the number of Afri
can-American-owned busi
nesses increased 22 percent
to more than 800,000 and
Latino-owned businesses in
creased 30 percent to more
than 1.2 million.
P&G Supplier Diversity net
work of minority and women
owned business enterprisesis
made up of 1,250 businesses,
with which P&G will spend 11
percent of its procurement
budget in 2005.
“By engaging minority sup
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pliers in our business pro
cesses, P&G is enriching and
supporting the communities
that are supporting usby pur
chasingourbrandseveryday,”
said Hodnett. “Supplier diver
sity is an important plank in
P&G’s efforts to build our
brands’ business with tne
country’s diverse consumer
base, helping P&G and
America’s minority commu
nities grow and prosper.”
P&G first established a mi
nority supplier development
programin 1972 whenit spent
$44,000 with six suppliers. In
1993, the effort was rear
ranged to more accurately
reflect the purpose of the pro
gram: to accelerate revenue
growth and employment of
Targeted Historically
Underutilized Businesses.
P&G’s investments in mi
nority and women-owned busi
nessenterprises haveresulted
in ever increasing expendi
tures. For perspective, just
over 10 years ago, during fis
calyear 1989-1990, P&G spent
slls million with minority
and women suppliers. During
fiscal year 2000-2001, P&G
spent $931.5 million, and it
will spend $1.050 billion in
fiscal year 2001-2002, a 13
percent increase over last
year.
&G Isa member of several
strategic organizations dedi
cated to expanding supplier
diversity development.
IT’S TIME FOR A CHANGE.
VOTE
SANCKEN
Augusta Commissioner
DISTRICT 1
Punch #B2
(November 6th)
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AUGUSTA FOCUS
IT’S TIME FOR A CHANGE.
NOVEMBER 1, 2001
7A