MBN USA

October 28, 2021

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Verizon is a 2001 BDR charter member

“Verizon benefits from the thought leadership of like-minded companies to shape and impact supplier diversity. Member companies put aside competitive differences to advocate for diverse businesses to thrive in our global economy for the good of society.” — Sandy Nielsen, senior manager, supplier diversity

Q: When did your company begin its supplier diversity program?

A: 1982, when you include our legacy companies.

Q: Can you tell us a bit about your supplier diversity program history?

A: Verizon is a charter member of Billion Dollar Roundtable. We have developed, over the years, a robust set of initiatives that provide opportunities for diverse businesses.
We believe doing business with diverse suppliers creates a positive multiplier effect. Diverse suppliers deliver value by providing innovative goods, services and solutions that support the product offerings our customers enjoy. Also, they have an economic impact in the communities where they operate through job creation, which directly impacts health and wealth accumulation in the communities we serve.

Q: Why did your company decide to become a BDR member?

A: BDR members have the unique opportunity to explore the power of collaboration, leverage learnings, examine current topics and issues and drive the strategic direction of supplier diversity, equity and inclusion in the supply chain. And BDR members deliver measurable contributions to the growth and success of diverse businesses.

Q:  Besides having a $1 billion annual spend with diverse suppliers, what does it take to be a BDR company?

A: You must have commitment across the enterprise that fully leverages the opportunities for diverse businesses.

Q: How has your company benefited from BDR membership?

A: Verizon benefits from the thought leadership of like-minded companies to shape and impact supplier diversity. Member companies put aside competitive differences to advocate for diverse businesses to thrive in our global economy for the good of society.

Q: What are some best practices or lessons learned you can share with companies striving to reach the $1 billion diverse spend mark?

A: To advance supplier diversity, it must be a corporate strategy and a business imperative, and you must establish a continuous improvement plan that is re-evaluated every year. Look at what other insights can be provided — both qualitative and quantitative. It’s smart business to provide insightful data, as well as impacts of that data.

Q: What advice would you give to corporations that would like to become BDR members?

A: Our insider’s view is that you first must establish a corporate policy for supplier diversity equity and inclusion that includes top executive management support.

To learn more about Verizon’s supplier diversity program, visit verizon.com/about/our-company/supplier-diversity.