According to the news statement the largest grocery chain Kroger Corporation today announced significant progress. Along with new initiatives including the launch of the Small Business Resource Guide as part of its framework. The Diversity, Equity, and Inclusion Scheme, which includes steps developed in collaboration with partners and leaders. To accelerate and promote greater change in the workplace and in the communities the organization serves. Kroger has generated $ 4.1 billion in diversified supplier spending and launched the Small Business Resource Guide.
While, “In 2020, Kroger generated $ 4.1 billion in diversified supplier spending, representing a 21% increase over the previous year. And building on our commitment to reach $ 10 billion in diversified supplier spending by 2030. We remain committed to doing the work towards developing Our long-standing business and nationally documented supplier integration program. Which reflects partnerships with entrepreneurs of color, women and veterans as well as companies founded by the LGBTQ + community. And business operators with intellectual and physical disabilities,” said Rodney McMullen, Chairman and CEO of Kroger Corporation. “Equality between race, gender, health and wealth will lead to real and long-term change and better results in our country. As a grocery in America, we are honored to play a role in driving this change as a business owner, grocery provider, and community partner.”
While, Last year, Kroger introduced 107 new diversified suppliers, an increase of 91% compared to 2019. Of these suppliers, five played a leading role in providing Kroger’s personal protective equipment during the height of the COVID-19 public health crisis. In honor of National Small Business Week, Kroger today publishes a Small Business Resource Guide developed to help brands and producers establish and grow retail partnerships. This free, downloadable resource shares best practices in product development, pricing, supply chain, merchandising, research and setup, networking, and partnership development.
Here’s the official statement “Through the Kroger Supplier Integration Program, we support, direct, consolidate and grow diversified owned enterprises across our thriving operations. We currently work with more than 1,600 diverse suppliers, ranging from food and beverages to health and beauty, product distributors and service providers.” said Angel Colón, Kroger’s senior director of corporate diversity And suppliers. ” As a member of the Billion Dollar Roundtable, we continue to partner with diverse companies in innovative ways, including by investing in business incubators and accelerators, expanding relationships with existing partners, hosting and participating in supplier peaks, and through partnerships with leading accreditation agencies. We believe our recently published Small Business Resource Guide, which features partnership success lights from companies like Cacique, 4Sisters Rice, TrueChoicePack, and True Shea, will be a useful tool for many companies and will assist us as we continue to search for new partners and expand existing relationships,” Colon continued.
As part of Kroger’s commitment to foster diverse partnerships, the company earlier this year hosted the third annual Supplier Inclusion Innovation Summit. Prior to the event, Kroger’s team of suppliers and leadership teams, along with accredited agencies such as the National Minority Supplier Development Board. The National Council for Women’s Business Enterprises, the National LGBT Chamber of Commerce, the National Business Development Board included a veteran, and the American Chamber of Commerce for Asian Countries, review hundreds of applicants To the event and they invited 25 suppliers to attend. During the event, participants received training from Kroger for promotion and business development, supplier integration leaders, and an opportunity to showcase their products.
During the summit, Kroger also announced the winners of this year’s Sustainable Business Award: Kroger also recently joined P&G and MORTAR – a Cincinnati-based accelerator that provides historically marginalized entrepreneurs with access to the resources to start and run successful businesses – to pilot a multicultural entrepreneurship development program, with a focus on empowering entrepreneurs to reach their fullest potential. The multi-month program launched last month and runs through the summer. Now, we think this is great for all new startups. What are your thoughts on this? Let us know in the comment section below!