JPMORGAN CHASE & CO . “ Supplier diversity is a top priority across Global Supplier Services , which really involves every part of our team - even payment operations and supplier assurance services , who historically wouldn ' t be involved ,” Connell says . “ I think it ' s important that we all play a part in driving supplier diversity forward .”
JPMorgan Chase is “ doubling down ” through a unique approach that leverages its own scale to systematically promote best practices and commitments throughout its supply chain . The firm is mobilising key suppliers to spend more with diverse companies ; mentoring those with emerging supplier diversity programs ; enhancing discoverability of diverse suppliers ; and promoting increased spend targets with key business communities , specifically Black , Hispanic and Latino .
The strategy is built upon JPMorgan Chase ’ s Gold Supplier program , an initiative launched in 2017 that brings together industry leaders to generate shared , incremental value and strengthen relationships with its most strategic and highest performing suppliers , from bluechip market leaders to small and agile innovators -both publicly traded and privately held .
Connell and his team understand that simply demanding that Gold Suppliers spend more with diverse companies may not provide the desired results . To help drive results they needed a better understanding
194 January 2022