BMS Enters the Billion Dollar Roundtable, Expands Supplier Diversity Efforts

On Aug 10, 2023

Bristol Myers Squibb has been inducted into the Billion Dollar Roundtable, joining other Fortune 100 companies that have invested $1 billion with diverse-owned suppliers.

BMS established aspirational inclusion and diversity goals and health equity commitments in 2020 to address health disparities by 2025. In connection to these goals, the company aspired to spend $1 billion with diverse and minority-owned businesses and has delivered on this milestone ahead of its 2025 timeline. Sustaining and building on this achievement will remain a priority.

According to BMS, investing in diverse-owned suppliers delivers agility and innovation, while closing economic gaps as a social determinant of health in diverse communities. BMS has contracted with more than 600 diverse suppliers owned by underrepresented groups, women, veterans, LGBTQ+, people with disabilities and other diverse populations.

“Our investment reinforces our commitment to collaborating with industry leaders and driving business priorities,” said David Elkins, executive vice president and chief financial officer, BMS. “We are proud of the meaningful progress we’ve made to meet our goal.”

BMS has cultivated partnerships with a wide range of diverse-owned business partners and industry leaders to enhance its operations. The company actively collaborates with renowned organizations such as the National Minority Supplier Development Council, Women’s Business Enterprise National Council, National LGBT Chamber of Commerce, Disability IN, and the National Veteran Owned Business Association. By partnering with these organizations, BMS aligns with their shared objectives of economic development, wealth creation, and job opportunities for diverse suppliers and communities.

While joining the Billion Dollar Roundtable marks a significant achievement, BMS looks to build upon this success.

“We have increased our diverse spend by being purposeful and creating the right partnerships,” said Rondu Vincent, executive director, Global Supplier Diversity and Sustainability, BMS. “Inclusion is a BMS value and at the end of the day, the numbers quantify our spend but the value is the impact we’re making in the communities we live, work and serve.”

To access more business news, visit NJB News Now.

Related Articles: