Albertsons has announced "the launch of several new vendor partnerships aimed at helping the company boost supplier diversity as the company reaffirms its commitment to racial equity."
The Supplier Diversity Program applies to the following groups that are over 50% owned and controlled/operated by a U.S. citizen and one of the following categories or ethnicities: African American … Asian American … Hispanic … Lesbian, Gay, Bisexual & Transgender … Native American … Service-Disabled Veteran … (and) Female."
The announcement goes on:
"Given one of the biggest hurdles for small businesses is access to working capital, Albertsons Cos. is launching an expanded early payment program by partnering with C2FO, a secure online platform for working capital, as part of this program. This partnership with C2FO will help determine the best time and terms for payments between Albertsons Cos. and suppliers. The goal is to help diverse-owned businesses alleviate immediate capital challenges by making access to working capital more equitable by providing funding to qualified, diverse-owned suppliers at significantly lower rates."
And, "Albertsons Cos. also plans to work with ECRM, RangeMe, and Quantum to expand supplier diversity. ECRM and RangeMe will help identify small, innovative, diverse suppliers. Quantum, an eProcurement and diversity spend management solution, will enhance Albertsons Cos.’ ability to identify diverse-owned and operated suppliers."
“Albertsons Companies is dedicated to helping our communities lay the foundation for racial equity,” said Jonathan Mayes, Albertsons Companies SVP, Chief Diversity & Inclusion Officer. “We’re taking these steps as part of our commitment to diversity, equity and inclusion in our company and the businesses we choose to partner with so that we reflect the wonderfully diverse communities we serve.”