JPMORGAN CHASE & CO .
make supplier diversity an integral part of doing business for these big companies , it can really have a transformational effect on diverse communities . That ' s an exciting notion for us that really mobilises the team .”
Though supplier diversity is a mandate for these suppliers , JPMorgan Chase recognises that not every organisation has the resources or expertise to transform overnight - and is supporting them through these challenges . For suppliers with emerging diversity programs , the firm offers access to mentorship .
“ We ' re pairing them up with those that are best-in-class , industry leaders in supplier diversity ,” Connell says . “ We ' re creating mentor-mentee relationships where they can learn from the best , and providing them with tools , templates , and training modules .
For suppliers with established but growing diversity programs , the bank is helping to overcome one of the most common hurdles : discoverability . In the US , the inability to find a deeper pool of diverse suppliers is more a perception than a reality . Connell and his team help to point the way to getting started .
“ Many suppliers are daunted by the idea of finding diverse businesses and it ' s a blocker to initiate their programs at all ,” Connell says . “ We tell people to start small and analyse their own spend , because they ' re probably spending money with diverse suppliers today that they don ' t even know about .
“ There are tools you can use to analyse that , but more importantly is creating relationships with some of the key diverse business certification organisations like the National Minority Supplier Development Council or the Women ' s Business Enterprise National Council . They can give you the support you need to build your program , expand your databases with eligible suppliers ,
“ CREATING MORE INCLUSIVE SUPPLY CHAINS ACROSS THE WIDER BUSINESS COMMUNITY WILL CHANGE THE COMPETITIVE LANDSCAPE FOR DIVERSE SUPPLIERS FOR GENERATIONS TO COME .”
JIM CONNELL CPO AND HEAD OF GLOBAL SUPPLIER SERVICES JPMORGAN CHASE & CO .
and your network of other companies that you can share best practices with .”
Through the Gold Supplier program , JPMorgan Chase also shares its own list of diverse suppliers , with teams in place to ensure that minority and underserved businesses share the same level of visibility as more established competitors .
“ We have over 100 of the biggest companies in the country , and together we ' ve created this community where we
202 January 2022