Supplier Diversity: Delivering Impact to Communities and Dow’s Bottom Line

December 01, 2023 04:40 AM AEDT | By 3BL

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Supplier Diversity: Delivering Impact to Communities and Dow’s Bottom Line — Image source: Kalkine Media

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Originally published in Dow's 2022 INtersections Progress Report

Dow is committed to promoting diversity and inclusion within its supply chain. We believe that a diverse and inclusive supplier base not only benefits our business, but also the communities where we operate. We offer supplier training and development programs, mentorship opportunities, and events and networking opportunities for diverse suppliers. Dow’s goal is to exceed $500 million in global diverse supplier spend by 2025. In 2022, we set a year-end target of $245 million and surpassed this target and achieved approximately $275 million.

LAUNCH OF DOW ACCELERATOR PROGRAM FOR DIVERSE BUSINESSES

The first-ever Dow Accelerator Program was developed to support and empower diverse suppliers globally. In 2022, the program was launched in the U.S. & Canada, Latin America and Asia Pacific, with a planned expansion to the EMEAI region in 2023.

WBENC CHEMICALS INDUSTRY GROUP ACCELERATOR PROGRAM

In 2022, Dow co-created and led the Women’s Business Enterprise National Council (WBENC) Accelerator program alongside BASF and Ecolab. The purpose of this mentorship program is to help fill the gap in diverse suppliers in the chemicals industry. More than 80 businesses applied to the program and 12 were selected for the first cohort.

DOW AND CITIBANK SUPPLY CHAIN FINANCING PROGRAM

In 2022, Dow and Citibank joined forces to launch a supply chain financing program that provides incentivized rates for loans to diverse suppliers. The overall mission is to aid our certified diverse suppliers in cash flow and reduce their financial risk.

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