Policy
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Inclusive Supplier Outreach: Proactively seek out small businesses and businesses owned by minorities, women, veterans, and persons with disabilities. Collaborate with diverse business organizations to broaden our supplier network.
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Supplier Diversity Goals: We shall set measurable annual goals for diverse supplier engagement and spending, with the intent to consistently review and improve our performance. Our targets will reflect our dedication to broadening the diversity of our supplier base.
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Regular Reporting: We will establish a regular reporting mechanism to track the diversity of our supply chain. The reports should cover the amount spent with diverse suppliers and the results of our diversity initiatives.
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Vendor Selection and Criteria: We will maintain a fair and transparent vendor selection process. Criteria for selecting suppliers will include, but are not limited to, the quality, value, service, and delivery of their goods and services.
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Awareness and Outreach: To cultivate a diverse supplier network, we will actively engage with and seek out diverse suppliers through industry events, trade fairs, and collaboration with diversity-focused organizations. Additionally, we will facilitate workshops and provide resources to diverse suppliers to help them understand our procurement processes and business needs.
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Continuous Improvement: WIC pledges to periodically assess our Supplier Diversity Policy. We will embrace best practices in supplier diversity and integrate them into our procurement strategies, ensuring an evolving and forward-thinking approach.
Our Commitment
WIC is dedicated to building meaningful and lasting partnerships with diverse suppliers. We believe these alliances enhance the quality and innovation of our products and services, add value to our clients, and strengthen the fabric of the communities in which we operate. By actively supporting supplier diversity, we commit to contributing to a vibrant, inclusive economy for all.
Implementation and Review
This policy is effective as of January 1, 2024 and will be reviewed annually or as necessary to reflect changes in the company's goals and legal and regulatory standards. All individuals involved in procurement and supply chain management at WIC are responsible for upholding the principles outlined in this policy.
