Fostering a Diverse Supply Chain

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CHAPTER 2

Fostering a Diverse Supply Chain

3 min read June 17, 2020

Our Supplier Inclusion and Development program is integrated within global procurement to ensure close interaction with sourcing professionals and business stakeholders.

We encourage the business to include diverse supplier candidates when going out to bid for a new project or service and actively match suppliers with new opportunities where we think they will be able to succeed and drive value for MetLife. In recent years, our strategic focus has shifted from how much money we spend with diverse suppliers to better understanding how we can improve our economic impact with them overall. We regularly work with firms that are majority owned, operated, and controlled by ethnic minorities, women, LGBTQ individuals, people with disabilities, or veterans, as well as federally recognized small businesses. We offer mentorships and scholarships, as well as executive education programs, to help suppliers continue to grow and succeed. 

   

In 2019, MetLife was named a top company for Women’s Business Enterprises (WBEs) by the Women’s Business Enterprise National Council (WBENC), in recognition of its efforts to reduce barriers and drive growth for women-owned businesses. This was the fourth time in a row MetLife was recognized by WBENC, the largest certifier of women-owned businesses in the U.S. and a leading advocate for women business owners and entrepreneurs.

MetLife employees welcome three beehives at our Cary, North Carolina campus with business partner, Bee Downtown.

The Emerging Young Entrepreneur

MetLife became a founding partner of the Emerging Young Entrepreneur (EYE) program in 2015 and has remained involved, expanding sponsorship to additional industries. EYE supports a pipeline of minority millennial entrepreneurs to become certified, innovative, and successful business entrepreneurs with an interactive pre- and post-conference curriculum, along with five days of hands-on training and practical application. Entrepreneurs tackle important business issues as they move through assessments, think tanks, feasibility, and execution stages of new venture creation. In 2019, 60% of program entrepreneurs won new business resulting from EYE program coaching, networking, and access to partner corporations.

Academic collaborations

Since 2007, MetLife has sponsored diverse business owners at executive education programs at Northwestern University’s Kellogg School of Management and the Tuck School of Business at Dartmouth. These programs are designed to provide CEOs of certified Minority Business Enterprises and WBEs with tools and skills to achieve and sustain growth and increase business capacity, operations, and leadership. In 2019, MetLife sponsored Denise Booms- Peppin, CEO of CBI Telecommunications, to attend the Tuck-WBENC Executive Program.

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