Celebrating Silver: MatchMaker Marks 25 Years of Building Diverse Suppliers and Communities

Rhea-AI Summary

Stellantis (NYSE: STLA) hosted its 25th annual supplier diversity MatchMaker event, showcasing its commitment to building a diverse supply base. The event connected over 325 diverse business owners with more than 225 Tier 1 supplier decision-makers and Stellantis representatives. Since 1999, MatchMaker has generated over $4 billion in new business opportunities for diverse-owned businesses.

Key highlights include:

• Stellantis has purchased more than $100 billion from diverse-owned suppliers since 1983
• In 2023, Stellantis spent $9.3 billion with diverse suppliers in North America
• The company's High Focus program has generated over $6.7 billion in diverse spend over the past 12 years

Stellantis' supplier diversity initiatives have received multiple awards, including recognition from the Canadian Aboriginal and Minority Supplier Council and the Great Lakes Women's Business Council.

Positive

• MatchMaker event has generated over $4 billion in new business opportunities for diverse-owned businesses since 1999
• Stellantis has purchased more than $100 billion from diverse-owned suppliers since 1983
• In 2023, Stellantis spent $9.3 billion with diverse suppliers in North America
• High Focus program has generated over $6.7 billion in diverse spend over the past 12 years
• Stellantis received multiple awards for its supplier diversity initiatives

Negative

• None.

Insights

Diversity and Inclusion Specialist

Stellantis' 25-year commitment to supplier diversity through its MatchMaker program demonstrates a long-term strategic focus on inclusive business practices. The $4 billion in new business opportunities generated since 1999 and $100 billion spent with diverse suppliers since 1983 are substantial figures that highlight the program's economic impact.

The company's recent recognitions, including awards from CAMSC and GLWBC, validate the effectiveness of their diversity initiatives. The High Focus program's $6.7 billion in diverse spend over 12 years shows a consistent commitment to supplier diversity goals.

While this news is positive for Stellantis' corporate image and social responsibility efforts, its direct impact on stock performance may be . However, strong supplier diversity programs can lead to innovation, cost savings and improved community relations, potentially benefiting long-term shareholder value.

Financial Analyst

From a financial perspective, Stellantis' supplier diversity program demonstrates a significant allocation of resources towards diverse-owned businesses. The $9.3 billion spent with diverse suppliers in North America last year represents a substantial portion of the company's procurement budget.

While the direct financial impact on Stellantis' bottom line is not explicitly stated, such programs can lead to improved supply chain resilience and potential cost efficiencies. The long-term investment in diverse suppliers may also mitigate risks associated with supply chain disruptions and enhance the company's ability to adapt to changing market conditions.

Investors should consider how this commitment to supplier diversity aligns with Stellantis' broader ESG (Environmental, Social and Governance) strategy, which is increasingly important for institutional investors and can impact long-term stock performance.

AUBURN HILLS, Mich., Oct. 2, 2024 /PRNewswire/ --

• Stellantis hosts 25th annual supplier diversity MatchMaker event
• Event connects more than 325 diverse business owners with more than 225 Tier 1 supplier decision-makers and Stellantis purchasing, supply chain and supplier quality representatives across commodity areas
• Annual tradeshow and networking event has generated more than $4 billion in new business opportunities 
• Company has purchased more than $100 billion from diverse-owned suppliers since 1983 
• Head of North America supplier diversity honored for leadership in advancing diversity, equity and inclusion 
• Supplier Diversity Program recognized by Canadian Aboriginal and Minority Supplier Council and Great Lakes Women's Business Council

A quarter century and still going strong, Stellantis today hosted its 25th annual supplier diversity MatchMaker program, demonstrating the company's long-standing commitment to building a diverse supply base and growing wealth for diverse business owners and communities. The annual event has generated more than $4 billion in new business opportunities for diverse-owned businesses since its inception in 1999, including minority-, women-, veteran-, LGBTQ- and disability-owned businesses, HUBZone, 8a, as well as small businesses.

Stellantis' MatchMaker program offers diverse-owned companies the opportunity to host exhibit spaces, network and learn about the company's supplier diversity development initiatives, including participating in "matchmaking" meetings with key buyers and decision-makers.

This year's MatchMaker was attended by more than 1,000 participants at the company's Auburn Hills campus, including more than 325 diverse business owners and more than 225 Tier 1 supplier decision-makers, as well as Stellantis purchasing, supply chain and supplier quality representatives across commodity areas. 

"Our 25th anniversary is not only a significant milestone, but also a testament to our steadfast commitment to promoting diversity, equity and inclusion within our supply base," said Bruno Olvera, head of diversity supplier development, Stellantis North America. "We have worked tirelessly to foster a culture of collaboration and support with our suppliers, particularly focusing on empowering underrepresented businesses and communities. We are so proud that this award-winning program has had such a profound impact on so many businesses that may not have otherwise had an opportunity to participate in the auto industry."

Since the inception of the company's supplier diversity program in 1983, Stellantis has purchased more than $100 billion from diverse-owned suppliers. Last year, Stellantis spent $9.3 billion in North America with diverse suppliers. Over the past 12 years, the company's High Focus program, which strategically works with suppliers to ensure they are meeting their diversity goals and objectives, has generated more than $6.7 billion in diverse spend. 

Celebrating supplier diversity program recent honors
As Stellantis embarks on the 41st year of its supplier diversity program, the company continues to receive recognition for its supplier diversity initiatives and leadership.

Olvera, who has led the company's North America supplier diversity development program since 2022, was honored recently by DiversityPlus Magazine as a Top 25 Diversity Change Leader. He was recognized for his contributions to advancing diversity, equity and inclusion within the organization and communities. 

In addition, the company recently received three awards – a first – from the Canadian Aboriginal and Minority Supplier Council (CAMSC): Company Collaboration Award, Procurement Business Advocate of Year for Olvera and Social Good Award for Manager of Canada Government Affairs Amy DiGiovanni.  

The Great Lakes Women's Business Council (GLWBC) also awarded Stellantis with an Excellence in Supplier Diversity Award in the Best in Class category, the organization's highest-level award, for the second consecutive year.  

In partnership with the GLWBC, Stellantis launched an innovative supplier development program, MentorWE, in 2022 for women-owned suppliers to prepare them for future contracting and procurement opportunities.

The company's supplier diversity initiatives also have been recognized with:  

• No. 2 ranking in the Fair360 (formerly known as DiversityInc) annual review of corporate supplier diversity programs in the U.S. 
• Top Corporations All Time for Women's Business Enterprises by the Women's Business Enterprise National Council (WBENC)

For more information about Stellantis' supplier diversity programs, visit www.supplierdiversitystellantis.com. 

Stellantis North America
Stellantis (NYSE: STLA) is one of the world's leading automakers, aiming to provide clean, safe and affordable freedom of mobility for all. In North America, it's best known for producing and selling vehicles in a portfolio of iconic, innovative and award-winning brands, including Jeep®, Chrysler, Dodge//SRT, Ram, Alfa Romeo and Fiat. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, while creating added value for all stakeholders. 

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SOURCE Stellantis

FAQ

What is the Stellantis MatchMaker program and how long has it been running?

The Stellantis MatchMaker program is an annual supplier diversity event that has been running for 25 years, since 1999. It connects diverse business owners with Tier 1 supplier decision-makers and Stellantis representatives to create new business opportunities.

How much has Stellantis (STLA) spent with diverse suppliers in North America in 2023?

In 2023, Stellantis spent $9.3 billion with diverse suppliers in North America.

What is the total amount Stellantis has purchased from diverse-owned suppliers since 1983?

Stellantis has purchased more than $100 billion from diverse-owned suppliers since the inception of its supplier diversity program in 1983.

How many participants attended the 25th annual Stellantis MatchMaker event in 2024?

The 25th annual Stellantis MatchMaker event in 2024 was attended by more than 1,000 participants, including over 325 diverse business owners and more than 225 Tier 1 supplier decision-makers.