Supply Chain
Supplier diversity
Driving excellence across our supply chain requires a culture of inclusion at every touch point. This includes who we partner with and how. Our Supplier Diversity program exists to champion economic empowerment, wealth and job creation in the community, while fostering inclusive innovation and a supply chain that reflects our values, our patients and our world. By partnering with purpose, we build relationships that are rooted in trust. We understand the transformative impact of connection, and we seek to bring that awareness to every contract and collaboration. Learn more about our suppliers.
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Supplier Diversity at Bristol Myers Squibb
We are an active member in the Pharmaceutical Supply Chain Initiative, sharing that organization’s vision and supporting pharmaceutical suppliers by promoting responsible practices to continuously improve ethics, labor, health, safety and environmental outcomes for our supply chain.
BMS is currently developing a rigorous Third-Party Risk Management (TPRM) process to provide a consistent approach to managing and monitoring risk with our suppliers. Our program aligns existing sourcing, contracting, due diligence and ongoing monitoring practices and SOPs into a common methodology. The framework developed is used to identify, assess, manage and monitor risks arising from the use of third parties.
Supplier diversity at
Bristol Myers Squibb
Value to Business: We harness the power of diversity through our suppliers.
Value to Community: We champion economic empowerment in the community.
Value to BMS Culture: Our suppliers must reflect our culture and the patients we serve.
Our Commitment: Spend $1 billion globally with diverse suppliers by 2025.
| 2020 Diverse Business Spend* (October 2019 – September 2020) | |||
|---|---|---|---|
| Diverse Business Classifications |
Diverse Spend |
Actual Percent** |
Internal SS&P Area Goal |
| Diverse Business Enterprise (DBE) | $695,336,854 | 13.59% | 12.00% |
| Minority Business Enterprise (MBE) | $450,241,075 | 8.80% | 8.18% |
| Women Business Enterprise (WBE) | $299,861,314 | 5.86% | 3.88% |
| Veteran’s Business Enterprise (VBE) | $53,226,133 | 1.04% | 0.67% |
| Disability-Owned Business Enterprise (DOBE) | $17,942,401 | 0.35% | 0.15% |
| LGBT Business Enterprise (LGBTBE) | $10,917,260 | 0.21% | 0.18% |
*Diverse Business Enterprise (DBE) is defined as a business with majority-ownership (51%) by any of the following: Minority (MBE), Women (WBE), Veteran (VOBE), Disabled (DOBE), or Lesbian, Gay, Bisexual, Transgender (LGBTBE).
**Percent relative to BMS’ total overall supplier spend ($5,115,846,974).
Ultimately, supplier diversity is about people. It is about sharing resources, broadening perspectives, increasing efficiencies, uplifting communities and, ultimately, transforming lives. With our scale and focus on innovation, we believe supplier diversity is as much about promoting equity beyond the business as driving business performance within it. Established 25 years ago, our supplier diversity program has intentionally expanded over time from a U.S. effort to a global imperative.
We encourage every BMS employee to help increase our diversity spend by partnering with the Strategic Sourcing and Procurement team to:
- Create an inclusive strategy for their efforts.
- Invest time to build relationships with diverse businesses, understanding their capabilities and sharing insights into BMS.
- Facilitate introductions of diverse suppliers.
- Empower and build capacity of diverse suppliers through mentoring and awarding business scholarships.
