The Coca‑Cola Company is committed to ensuring that minority-owned businesses have access to opportunities throughout its global supply chain by maximizing procurement opportunities and proactively engaging and building partnerships with diverse suppliers. Coca‑Cola spent $675 million with diverse suppliers in 2018 and has an ambitious goal to hit $1 billion in annual spending. Recognizing its impact on the worldwide supply chain in the industry, the company encourages suppliers to adopt diversity programs and goes beyond the beverage industry to increase overall corporate supplier diversity.
These efforts caught the attention recently of two organizations. The National Minority Supplier Development Council (NMSDC) recognized Coca‑Cola for its innovative approach to promoting minority supplier development. NMSDC was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes. To meet the growing need for supplier diversity, NMSDC matches more than 12,000 certified minority-owned businesses to a network of more than 1,750 corporate members who wish to purchase their products, services and solutions. Coca‑Cola will co-chair the NMSDC’s 2019 conference in Atlanta.
The U.S. Department of Commerce's Minority Business Development Agency (MBDA) presented Coca‑Cola with its Distinguished Supplier Diversity Award during National Minority Enterprise Development Week in October. MBDA is the only federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses through the mobilization and advancement of public and private sector programs, policy, and research. Its services provide greater access to capital, contracts, and markets and better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally.
“These recognitions are yet another proof point as The Coca‑Cola Company emerges as a growth company,” said Terrez M. Thompson, vice president, global supplier diversity. “Our leadership has allowed us to take bold steps and think differently about how we integrate supplier diversity across our supply chain, while continuing to support our more than 40-year legacy as a leader in supplier diversity as an integral part of our overall business strategy. We will continue to be innovators and leaders in this space. I thank James Quincy and Jim Dinkins, their leadership teams and the procurement and business leaders who support our efforts.”