Javette Hines at Procurement & Supply Chain Live
WATCH NOW in the same way we look at our global customer base and global employee base .
We make sure we know not only where we are procuring goods and services from , but what the opportunities for employees of those suppliers look like .
This is why we work with organisations that look at 51 % ownership , operation management and control of business as means to certify a business . When we track tier-one spend , this is just one measurement we look at . We want to be aware of how , at Citi , we are helping provide opportunities for diverse suppliers .
What are the key considerations around supplier diversity ? What are the country laws in place ? Who are the diverse suppliers that you have an opportunity to grow ? Who are the diverse suppliers that are currently doing business with you ? What is the supplier ’ s sourcing footprint over the coming 12 to 18 months ? These are just some of the considerations we put into play when we think about supplier diversity and sustainability .
How do you engage with suppliers ? We have to think about strategic sourcing , as well as tracking and evaluating diverse supplier spend . It is about having the right programmes in place that allow us to engage with suppliers in a meaningful way – by creating workshops , for example , designed to build capacity to ensure that even the smallest suppliers we work with can continue to grow . It might not always be a tier-one opportunity ; it could be a tier-two opportunity . But the key thing is advancement .
Another important part of supplier engagement is integrating conversations
108 February 2024