We believe that our organization and communities both benefit from providing equitable opportunities for diverse business enterprises to compete for L&P business and become valued partners in our supply chain. As a diversified manufacturer operating across several different locations and industries, we recognize an opportunity to better collaborate across our purchasing organizations and ensure that supplier diversity is an integral part of our strategic sourcing and procurement processes.
We’re taking steps to further support diversity within our supply chains. We’re also creating awareness and
developing a professional culture of diverse supplier engagement. Our guiding objectives are to develop a systemic approach to cultivating opportunities for diverse suppliers, to increase engagement among L&P’s supply base, to track a broader range of supplier diversity measures, and to better communicate supplier diversity activities to all stakeholders.
One of our immediate goals is to assemble a Supplier Diversity Council, with representatives from across L&P’s business units and shared services. Council members will be advocates for supplier diversity and inclusion programs within their respective business units.
Early outcomes of our increased focus on supplier diversity include:
Our Supplier Diversity Council launched in June 2022. Council members will attend regular meetings and play a key role in:
By ensuring that all our business operations have a stakeholder role in the ongoing development and administration of our supplier diversity program, we will be well poised to see further improved outcomes for our company, communities, and our current and future diverse business partners.