Unlocking the Value of Diversity in Supply Chains

By Dr. Randhir Thakur | Chief Supply Chain Officer, Intel Corporation

SOURCE: Intel

DESCRIPTION:

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: 

  • World Wide Technology (WWT) is the largest privately held, minority-owned business in the U.S. Headquartered in St. Louis, Missouri, the company is a “one-stop shop” that helped us streamline an overly complex process and improved global support for Intel’s network equipment and security solutions. We selected WWT as a primary solutions provider for our needs based on its global footprint, superior customer service, and ability to partner on proof of concepts and custom solutions; it has created, tested, and deployed solutions at various Intel sites around the world. Additionally, WWT and Intel have partnered on several community initiatives including STEM, community outreach, sponsorship of the Black Engineer of the Year award, Puerto Rico hurricane relief, and support of the National Urban League. 
  • Jordan IP Law, LLC (JIPL) is the nation’s largest black-owned patent law firm. Based in Washington, D.C., the firm is a certified Minority Business Enterprise and an active member of the National Association of Minority & Women-Owned Law Firms. JIPL has provided patent legal services to Intel since the firm’s founding in 2009 by B. Delano “Del” Jordan, former Senior Patent Counsel and Portfolio Manager for the Intel Patent Group. While JIPL has provided both complex and highly technical legal guidance to the company, Intel has helped reinforce the firm’s growth by providing valuable insight on best practices in portfolio management and assigning high-priority matters to the firm.

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.

Tweet me: More diverse supply chains are a win-win for @Intel and the minority-owned partners the company works with. Learn how these partnerships have a positive impact on both the companies and their communities: https://bit.ly/2O9uAKu

KEYWORDS: Intel, NASDAQ:INTC, Dr. Randhir Thakur, supplier diversity

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