Due to new business strategies in supply chain management, many procurement opportunities are managed by our major business partners or prime suppliers. Acknowledging that we have limited opportunities available for small businesses, we have developed the 2nd Tier Supplier Program, which is a partnership between Coca‑Cola and our prime suppliers. We request that prime suppliers subcontract a portion of their Coca‑Cola contracts with diverse suppliers.
The Coca‑Cola Company accepts indirect and direct spend for 2nd tier diverse suppliers. This will allow us consistency across our system and offers the best method of tracking our diverse spend dollars with our prime suppliers.
Calculates the 2nd tier spend by prorating the prime supplier's company-wide diverse spend with the percentage of its total business represented by the customer company's business. (For example, if the prime supplier spends $100 million annually with diverse suppliers and a particular customer represents 1% of its total business, the 2nd tier spend would be $1 million ($100 million x 1%).
To engage diverse suppliers directly on The Coca‑Cola Company contract and report the amount paid to these specific suppliers therefore, each 2nd tier dollar can be traced back to a specific diverse supplier and to a specific project.
The Coca‑Cola Company in North America is proud to support the launch of Rise Up Crowdfunding, an equity crowdfunding portal that empowers investors from the general public to invest in women and minority-owned small companies and startups looking to raise capital.
Coca‑Cola’s commitment to supplier diversity focuses on maximizing procurement opportunities and proactively engaging and building partnerships with diverse suppliers.
The Rise Up Crowdfunding funding portal offers a new solution for business owners to gain access to a process for raising capital from the crowd, which could be a community of their customers, fans, followers, and the general public. This much-needed resource can, in many cases, help small businesses scale up or expand their operations, open new locations, and grow their brands.