By Dr. Randhir Thakur | Chief Supply Chain Officer, Intel Corporation
Submitted by Intel
Celebrating Black History Month brings opportunity to engage more deeply in conversations with friends, family members, and colleagues. While many are familiar with Dr. Martin Luther King’s civil rights efforts, we may not easily recall the importance he placed on economic equity in outlining his vision for a more inclusive world. In the famous “I Have a Dream” speech in 1963, King highlighted the “vast ocean of material prosperity” that lay beyond the reach of many American citizens. King knew that freedom depended a great deal on access to economic opportunities.
Today, that goal remains imperative, and Intel is not sitting on the sidelines. I’m proud that Intel is committed to economic support for diverse-owned businesses as part of its Supplier Diversity and Inclusion (SD&I) program. We have committed to spending $250 million with U.S. black-owned suppliers by the end of 2023 as part of Intel’s RISE 2030 goals focused on responsibility, inclusiveness, and sustainability.
Overall, we aim to increase our annual spending with diverse-owned suppliers globally to $2 billion by 2030, a 100% increase from our 2020 goal of $1 billion -- which we reached a year early. These numbers demonstrate how the SD&I program is providing opportunities for diverse-owned companies to compete for Intel contracts.
In addition to helping diverse communities around the world, these investments provide value to Intel as a company. Inclusion of diverse suppliers provides new perspectives and expands access to competitive innovation. By increasing our collaborations with diverse suppliers, we are able to harness our combined intellects to advance technology further and create new leadership products for Intel customers.
All of our diverse suppliers have unique stories to tell, but as we close out our celebration of Black History Month, I wanted to shine the spotlight on two of the black-owned suppliers we’ve partnered within the U.S., and the positive impact our partnership with them has had on both our companies and their communities:
Again, these are just two examples of the many dynamic, diverse-owned suppliers we partner with across the globe.
On our journey to become the most inclusive and responsible company on the planet, we’ll be closely tracking our ambitious goals for supplier diversity and the milestones along the way. I encourage all supply chain leaders to dig deeper to uncover the untapped value of diversity in the supply chain.