Chrysler Group Increases Purchases From Minority Suppliers in 2005
20 Février 2006 - 4:00PM
PR Newswire (US)
-- $3.8 billion spent with minority suppliers in 2005 represents 13
percent of total purchases -- Minority spending increased by $400
million from the previous year -- Since 1983, Chrysler Group has
sourced more than $31 billion to minority-owned companies AUBURN
HILLS, Mich., Feb. 20 /PRNewswire-FirstCall/ -- Chrysler Group
announced today that it spent $3.8 billion with minority suppliers
in 2005, representing 13 percent of its total purchasing and an
increase of $400 million from the previous year. In the last seven
years, the company has more than doubled dollars spent with
minority suppliers, from $1.7 billion in 1998 to $3.8 billion in
2005. This significant increase demonstrates Chrysler Group's
long-term commitment to the economic development and growth of its
minority suppliers. "Chrysler Group has provided long-standing
support to minority-owned suppliers and will continue to create
innovative initiatives and opportunities that leverage their
sustainability and growth," said Peter Rosenfeld, Executive Vice
President - Procurement & Supply, Chrysler Group. "Chrysler
Group measures suppliers with objectivity and transparency. The
companies which perform best in quality, technology, systems cost
and supply are winning new business contracts." The Company's
diversity supplier development initiatives extend to its Tier 1 and
Tier 2 supplier base. Tier 1 suppliers are expected to source at
least eight percent of their procurement through qualified minority
suppliers during the 2006 calendar year. Chrysler Group supports
several organizations geared to assisting Tier 1 suppliers achieve
these goals, including the National Minority Supplier Development
Council (NMSDC) and the Canadian Aboriginal Minority Supplier
Council (CAMSC). In fact, the Chrysler Group helped establish the
CAMSC organization in 2004. Next week the company is hosting CAMSC
and a number of Canadian suppliers to help educate businesses on
the importance of supplier diversification. "Aboriginal and
minority firms are proving their worth over and over again," said
Jethro Joseph, Senior Manager - Diversity Supplier Development,
Chrysler Group. "With the creation of CAMSC, we are able to promote
purchasing from Aboriginal and minority enterprises globally."
Since 1983, Chrysler Group has purchased more than $31 billion from
minority-owned companies and has developed a number of programs to
build its minority supplier base. Those include a new supplier
diversity Web site (http://supplierdiversity.daimlerchrysler.com/),
Chrysler Group's Matchmaker program and the Minority Enterprise
Initiative (MEI). About Chrysler Group's Minority Programs Supplier
Diversity Web Site Introduced in 2005, the company's Supplier
Diversity Web site is designed to identify and register potential
suppliers. For minority-owned suppliers, it serves as a resource to
build relationships and understand specific procurement
requirements. For the Chrysler Group, it captures suppliers'
capabilities and experience, and helps identify potential suppliers
for specific procurement needs. Matchmaker In 2000, Chrysler Group
developed the Matchmaker program, which, since its inception, has
generated more than $1 billion in new business opportunities. The
Matchmaker program was designed to pair minority and Tier One
suppliers and encourage networking and the development of long-term
partnerships. Minority Enterprise Initiative (MEI) The
much-heralded Minority Enterprise Initiative is one of the first
programs to link auto manufacturers with minority suppliers and a
financial institution (Comerica Bank), and one of the only
automotive initiatives to address all aspects of a supplier's
business. MEI was developed to help minority suppliers improve
technical capabilities and increase quality and performance.
Results of this program show that participating suppliers have
increased their business with Chrysler Group by an average of 8
percent per year -- which is more than 400 million in new business
for minority companies. In addition, the MEI program has generated
more than $95 million in new capital loans for suppliers through
Comerica Bank. The Chrysler Group's diversity initiatives have been
recognized by several leading publications and organizations in
2005, including being recognized with a Mosaic Award from the
American Advertising Federation for the company's supplier
development program, named one of Hispanic Trends Magazine's "Top
50 Corporations for Supplier Diversity", Black Enterprise
Magazine's "30 Best Companies for Supplier & Employee
Diversity", the Ohio Governor's Minority Business Development
Recognition Award and the company has received the National
Minority Supplier Development Council's "Corporation of the Year"
award several times. In addition, Jethro Joseph, Senior Manager of
Minority Supplier Development also received the 2005 Hispanic
Advocate Award from the Michigan Hispanic Chamber of Commerce and
the Corporate Supplier Diversity Advocate Award from Tuck School of
Business Dartmouth College. Peter Rosenfeld will also serve as
Chairman of the Michigan Minority Business Development Council on
behalf of DaimlerChrysler for 2006 and 2007. First Call Analyst:
FCMN Contact: ss1005@DCX.COM DATASOURCE: Chrysler Group CONTACT:
Angela Ford, +1-248-512-2986 or , or Michele Tinson,
+1-248-512-0366, or , both of Chrysler Group Web site:
http://supplierdiversity.daimlerchrysler.com/
http://www.daimlerchrysler.com/
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