In the United States, Canada and Puerto Rico, we enforce a small business/supplier diversity policy ensuring that equitable opportunities are afforded to small and diverse- owned businesses. We have supplier diversity champions for each division and major categories to oversee, monitor and track diverse supplier spend. In 2017, our diverse spend was $1.2 billion. For the past three years Abbott has increased spend year over year with diverse suppliers on average of 12% as well as increased Abbott prime supplier’s utilization of diverse businesses through subcontracting Tier 2 arrangements. By 2020 Abbott targets diverse spend of $1.5 billion. This target is bonus-relevant for our senior leadership procurement team at Abbott.
We allow suppliers to self-certify however we encourage certifications through private or public 3rd party agencies such as Women’s Business Enterprise National Council (WBENC), National Women Business Owners Corp (NWBOC), National Minority Supplier Development Council (NMSDC) or regional affiliate, US Business Leadership Network (USBLN), Small Business Administration (SBA), National Veteran Business Development Council (NVBDC), National Veteran-Owned Business Association (NaVOBA), and National LGBT Chamber of Commerce (NGLCC), etc.
Currently, Abbott tracks spend with the following small business/diverse supplier classifications:
Outreach and Advocacy Activities
Abbott representatives also participate in local, regional and national matchmaking events and trade fairs. Prospective suppliers are given the opportunity to share their products or services face to face, with Abbott purchasing representatives. A few examples of such events include:
Second-Tier Supplier Reporting
Supplier diversity is a competitive advantage and good citizenship; thus, we strongly encourage our prime suppliers to implement a small business or supplier diversity program. Abbott requests and enforces our top suppliers to submit second-tier reports quarterly through the Abbott automated second tier reporting system.
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Registration into these systems does not guarantee business with Abbott. These databases are used as a sourcing tool when we are seeking suppliers for product and services.
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