Cummins is joining the likes of AT&T, Boeing, General Motors and Wal-Mart with its induction into the Billion Dollar Roundtable, a prestigious advocate for best practices in corporate supplier diversity.
“Cummins is honored and excited to be inducted into the Billion Dollar Roundtable for our commitment to diversity and inclusion and the work we do with our global supplier partners,” said Cummins Chairman and CEO Tom Linebarger. “A diverse supply chain enables us to meet the cost, quality and delivery expectations of our stakeholders worldwide, and allows us to foster innovation and economic development in the communities where we live and work.”
The induction took place on Aug. 17 during the Roundtable’s Summit in Atlanta, Georgia (U.S.A.). Cummins was inducted along with the Lear Corp., a leading supplier of automotive seating and electrical systems. The two companies are only the 21st and 22nd members of the Roundtable.
Members have attained $1 billion or more in annual spending with primary (Tier I) women- and minority-owned suppliers. Members must also complete an 18-month long mentorship with an existing corporation in the Roundtable and an independent audit before joining the organization.
“The Billion Dollar Roundtable has been a longtime goal on the diversity procurement journey for Cummins,” said Michelle Taylor, Diversity Procurement Director at the company. “It’s a tremendous honor to be matched with such distinguished companies.”
Cummins spent $1.3 billion with diverse suppliers in the U.S. in 2015, up from $1.2 billion the previous year, despite challenging economic times. The company maintains that doing business with diverse suppliers helps ensure competition for the company’s business, ultimately reducing costs and improving service.
At the same time, diversity procurement helps develop economic growth in all the communities where Cummins employees live and work, consistent with the company’s Corporate Responsibility Value, to “serve and improve the communities in which we live.”
Cummins’ mentor for the Roundtable was General Motors. The company also received support from the FCA Group (Fiat Chrysler Group), a Cummins customer. The company supplies engines to the FCA Group’s RAM pickup trucks.
Taylor said she looks forward to learning from members of the Roundtable.
“It feels very good to know I can pick up the phone and share best practices with the caliber of companies included on the Roundtable,” she said.
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