Supplier Management

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Supplier Management

2 min read Jun 23, 2022

MetLife’s Global Procurement Policy and Procedures help secure the best value from our suppliers across the four major MetLife regions (U.S, EMEA, Asia and LATAM). MetLife’s Supplier Code of Business Ethics articulates our intention to work with suppliers who act consistently with MetLife’s principles and standards. This includes our commitment to conduct business ethically and lawfully in countries where we operate across our supply chain, and we expect the same of our suppliers. 

We expect suppliers to operate in line with MetLife’s principles, which prioritize respect for basic human rights within organizations, including rights to health and safety, life and liberty and equality. Suppliers should also comply with all applicable federal, state and local employment, equal opportunity, labor, immigration and wage and hour laws. Failure to comply with these requirements can result in the termination of our business arrangement.

MetLife asks sustainability questions in requests for information and during onboarding. We encourage suppliers to participate in the MetLife Supply Chain Sustainability program through active engagement (see Promoting Supply Chain Sustainability).

Third-Party Risk Management

The Supplier Third-Party Risk Management (TPRM) Program protects sensitive MetLife and customer information. Third parties are required to comply with all elements of the MetLife TPRM Program, including participation in a risk assessment prior to providing goods or services and in ongoing monitoring of our business relationship.

Through MetLife’s TPRM program, we evaluate the risk of third-party engagements and suppliers before assigning them a risk rating and manage them accordingly. 

Fostering Supplier Diversity

Through MetLife’s Supplier Inclusion & Development program, our goal is to grow partnerships with diverse suppliers to promote their economic growth. Supplier Inclusion & Development is integrated within Global Procurement so we can interact with sourcing professionals and business stakeholders to include diverse suppliers in our supply chain. As part of our new DEI goals, MetLife has committed to spending $5 billion with diverse suppliers by 2030 and to annually report the economic impact of MetLife’s diverse supply chain. See 2030 DEI Commitments for more information, and read more about our Supplier Inclusion & Development program.

MetLife joined WEConnect International to enable women business owners to compete in the global marketplace. WEConnect International creates opportunities for women-owned businesses to connect with qualified buyers around the world. As part of our membership, MetLife gains access to a global database of women-owned businesses, as well as resources to develop a diverse and inclusive global supply chain. 

In 2021, MetLife engaged with over 200 Diverse Business Partners.1 We have spent an estimated $3.5 billion since the inception of MetLife Supplier Inclusion and Development in 2003.2 MetLife participates in national supplier diversity advocacy organizations that foster important connections and relationship-building opportunities. These organizations include:

  • Women’s Business Enterprise National Council;
  • National Minority Supplier Development Council;
  • National LGBT Chamber of Commerce;
  • Disability:IN; and
  • National Veteran Business Development Council.
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1. THIS NUMBER IS LESS THAN THE 2020 METRIC AS A RESULT OF THE SALE OF METLIFE AUTO & HOME, COMPLETED IN APRIL 2021.

2. DUE TO THE LONG HISTORY OF THE PROGRAM, SPEND FIGURES FROM 2003 THROUGH 2007 ARE APPROXIMATED.