As a $123 billion company, our supply chain has a tremendous impact on communities and small business. We don’t take this impact lightly, and acknowledge it presents an opportunity for us in terms of our diversity commitment.
This is why we are continually improving and enhancing our Supplier Diversity Program. We realize all kinds of businesses wish to do business with us and all of them deserve our consideration. Our program allows that to happen. It encourages companies that meet the definition of a diverse-owned business to register with us through our online portal. Managers throughout our company are then encouraged to consider using these diverse suppliers when they are procuring goods and services on behalf of the company.
Every year we spend tens of millions of dollars with our diverse supply chain, which now also includes a Tier II Diverse Supplier Program, in which we monitor our large valued suppliers within their own supply chains.
Our partnerships also support a range of events at which we connect with potential suppliers, including local, regional and national trade shows. CVS Caremark also supports training and resources that help diverse businesses expand capacity and sustainability.
Partnerships supporting CVS Caremark Supplier Diversity include: National Minority Supplier Development Council, Women’s Business Enterprise National Council, United States Hispanic Chamber of Commerce and the National Gay and Lesbian Chamber of Commerce.
Additionally, the Diverse Retail Pharmacy Program is a component of our Supplier Diversity Program, which encourages diverse-owned, independent retail pharmacies to become certified diverse-business enterprises in order to expand and establish potential business opportunities with CVS Caremark.