Faurecia leading the way in Diversity & Inclusion
The term Supplier Diversity refers to the proactive business practices that promote the purchasing of goods and services from underrepresented communities. The purpose of Supplier Diversity programs is to establish a diversified corporate supply chain that reflects the demographics of the community in which a company is located. The belief is that the more a corporation buys from a local diverse supply base, the more money is delivered into its local economy thus helping to increase employment and development opportunities within that community. Today, those communities include minorities, women, veterans, LGBT, Native Americans, disabled, and service-disabled owned businesses.
Supplier Diversity got its start with the Civil Rights movement in the early 1960s and has continually expanded since then. The Civil Rights Act of 1964 set the stage for Supplier Diversity by establishing federal contracting opportunities for minority-run businesses. Later Acts expanded on the principles of Supplier Diversity culminating in the founding of the National Minority Supplier Development Council in 1972. More recently, the establishment of Supplier Diversity programs within the private corporate world has resulted in significant growth of minority-run businesses.
Faurecia is no stranger to Supplier Diversity and in many ways is at the forefront of this important endeavor:
- We have established two highly successful minority-run Joint Venture businesses - Detroit Manufacturing Systems, LLC and Total Network Manufacturing, LLC. These Minority Business Enterprises have delivered outstanding business solutions for Faurecia and our customers.
- We currently manage successful supplier relationships with about fifty different Minority-owned Business Enterprises with an annual spend approaching $130M.
- We are actively involved within the Supplier Diversity community with corporate memberships with the Asia Pacific American Chamber of Commerce, Michigan & National Minority Supplier Development Councils, the Great Lakes Women’s Business Council, the Michigan Hispanic Chamber of Commerce, Disability-IN, and the National Gay and Lesbian Chamber of Commerce.
- We have forged a strong partnership with the Asia Pacific American Chamber of Commerce over the past few years. Our participation with APACC has led to several business relationships that are providing benefits to Faurecia and the communities where we operate. We are proud of our standing as an Opal Member with APACC and look forward to ongoing relationships with the Asia Pacific community.
At Faurecia Diversity & Inclusion isn’t just a saying, it is a way of life. We are excited to be leading the way forward!