May 11, 2023 11:00 AM Eastern Daylight Time
SANTA CLARA, Calif.--(BUSINESS WIRE)--The following is an opinion editorial by Jackie Sturm, corporate vice president of Global Supply Chain Operations at Intel Corporation:
Three years ago, Intel announced a goal to increase global annual spending with diverse suppliers to $2 billion by 2030. We are proud to announce we reached $2.2 billion in diverse supplier spending in 2022, eight years ahead of schedule. This $2.2 billion represents nearly 15 times the annual total when our supplier diversity program launched in 2015 and double our 2019 results.
More: 2022-23 Corporate Responsibility Report — CEO Letter | Full 2022-2023 Corporate Responsibility Report | Corporate Responsibility at Intel
Intel’s commitment to a more inclusive supply chain allows us to leverage our purchasing power to address social gaps in our pursuit of fair business practices. Included in today’s milestone are two more goals that have been met early:
- $250 million in spending with U.S. Black-owned suppliers by end of 2023.
- $800 million in spending annually with minority-owned suppliers globally by end of 2023.
We attribute the ability to reach our goals ahead of schedule to our processes and incentives that encourage diverse suppliers to work with us. Additionally, due to our rapid manufacturing expansion around the world in the past few years, we have had the opportunity to bring in more suppliers than ever before.