MBN USA

October 28, 2024

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Coca-Cola’s 'Supplier Diversity Refresh Initiative' proves successful in increasing diverse spend

For Fernando Hernandez of inductee Coca-Cola, the third time truly is the charm. 

He is senior director of supplier diversity at the Atlanta, Georgia-based beverage giant. Before Coca-Cola, he represented two other BDR member-companies — AT&T Inc. and Microsoft Corp. AT&T is a BDR charter member from the organization’s founding in 2001, and Microsoft joined in 2009. 

Spending 15 years at Microsoft and 14 1/2 years at AT&T, Hernandez took on the challenge of leading Coca-Cola’s supplier diversity effort in 2021.

For his long advocacy, he was selected as a 2022 member of the inaugural class of MBN USA’s Global Supply Chain Diversity, Equity and Inclusion Hall of Fame.

One of Hernandez’s actions in his new job was to set a strategy to more than double Coca-Cola’s spend with diverse suppliers — with the objective of increasing purchases above the $1 billion level — to qualify for BDR membership. 

The strategy was dubbed Coca-Cola’s Supplier Diversity Refresh Initiative — to increase the company’s diverse supply base by creating mutually beneficial business relationships.

In addition to the company’s goal of increasing its spend with diverse suppliers to more than $1 billion annually, the refresh program also began strengthening relationships with the communities in which Coca-Cola operates, supporting its customers’ corporate diversity goals. In addition, the initiative also placed greater emphasis on supporting women-owned businesses with its Supplier Training & Empowerment Program (STEP) to help business owners increase visibility and access enhanced funding. 

During Coca-Cola’s induction into BDR at the summit, Hernandez thanked the Coca-Cola supplier-diversity team for its work in reaching the $1 billion spend goal. 

He said the BDR induction of Coca-Cola brings him “tremendous joy,” but added that the work required to get to $1 billion is difficult, though deservingly so. 

“You have to work hard, and you have to work tirelessly to bring in world-class vendors. I am blessed and privileged to lead this program. It is such a high honor to be doing this work,” Hernandez said. 

To learn more about Coca-Cola’s supplier diversity program, visit coca-colacompany.com/social/supplier-diversity.