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October 17, 2023

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Over the next five years, Citi intends to continue to increase the resiliency of its supply chain

2023 Billion Dollar Roundtable Best Practices Summit: Inductees

CITIGROUP INC.

Q: When and why did your company start its supplier diversity program? 

A: For nearly 50 years, Citi’s Supplier Diversity Program has actively sought out and empowered suppliers that reflect the rich tapestry of our global community. Citi started its supplier diversity efforts in 1977.  The program rebranded in 2008 to Supplier Diversity and Sustainability was added as a job role. It further expanded and rebranded in 2016 as Supply Chain Development, Inclusion and Sustainability because of its global inclusion and capacity-building efforts in all regions in which Citi does business. Our supplier base represents all dimensions of diversity, including veterans, individuals with disabilities, women, racial and ethnic minorities, those who identify as LGBTQIA+ and other underrepresented groups. 

Q: What is the significance of your company being inducted into the Billion Dollar Roundtable Inc. (BDR)?  

A: By forging relationships with diverse suppliers, we have not only expanded our network but also unleashed a wave of fresh ideas and resilience in our supply chain. We are proud that Citi was named to the BDR and is connected to a dynamic group of corporations and the diverse businesses they represent. We know that our good work must continue and are excited about the opportunity to work with a phenomenal group of companies, share best practices and work together to determine how to continue to advance diverse suppliers and leverage supplier diversity as a strategic and integrated process. We believe supplier diversity is not just a responsibility but a strategic advantage. The significance is seeing the substantial impact of these initiatives on our firm, our clients and customers, and the communities in which we operate. 

Q: What advice would you give companies aspiring to earn BDR membership?

A: Companies that aspire to BDR membership should create a vision and a plan to support this objective, but also identify stakeholders who support the mission both inside your organization and out. Knowing and engaging with existing suppliers, but also creating relationships with potential suppliers helps to support solid relationships and is an essential ingredient for success. Finally, as much as possible, align with sourcing and the lines of business so that even with winds of change, there is preparation and progress that maps to pipeline development.

Q: What is your company’s spend goal with diverse suppliers over the next five years?

A: Over the next five years, we hope to continue to increase the resiliency of our supply chain. This means to increase spend with diverse firms year over year, work with our global teams to advance existing efforts and capacity building. Additionally, the intent is to ensure that diverse suppliers stay aware of supply chain sustainability considerations that will continue to evolve due to climate change or other disruptions that could impact business continuity.

To learn more about Citi’s supplier diversity program, visit citigroup.com/global/suppliers/supplier-diversity-program.