Wal-Mart Stores Inc. expanded its business with minority- and women- owned companies by more than 25 percent in 2008, according to recently verified figures. In the midst of a struggling economy, Wal-Mart increased its combined direct and second-tier spend to more than $8.1 billion with minority- and women-owned businesses.
In 2008, Wal-Mart’s direct spend with minority- and women-owned businesses was more than $6 billion, with second-tier spending totaling more than $2 billion. Second-tier spend is an accounting of suppliers that subcontract with prime suppliers on Wal-Mart business.
Wal-Mart’s direct spend with diverse suppliers was more than $4.8 billion in 2007, totaling more than $6 billion when accounting for second-tier spend.
Wal-Mart’s spend numbers are verified by CVM Solutions, a third-party enterprise supplier management company.
“At Wal-Mart, we know we can make a difference in the communities we serve and our commitment extends to minority- and women-owned businesses at the local level,” said Theresa Barrera, vice president of Supplier Diversity at Wal-Mart Stores Inc.
For more information on Wal-Mart’s supplier diversity efforts, visit www.walmartstores.com/diversity.