In online episode 12.1, Hispanic Lifestyle spoke with The Coca-Cola Company’s Terrez M. Thompson Vice President of Global Supplier Diversity. The interview took place at the United States Hispanic Chamber of Commerce 2015 Convention held in Houston, Texas. In our interview Ms. Thompson provided insights into business with Coca-Cola.
From their website
The Coca-Cola Company is committed to supplier diversity by maximizing procurement opportunities and proactively engaging and building partnerships with diverse suppliers.
Supplier diversity is an integral component of the Company’s diversity management strategy and we believe that including our customers and consumers in our procurement strategy will help develop stronger local communities, and create long-term growth and a competitive advantage for the Coca-Cola system.
The Coca-Cola Company and its subsidiaries, consider themselves leaders in supplier diversity and role models in the communities that we serve. We will remain unwavering in our quest to maximize opportunities for diverse suppliers which furthers our promise to benefit and refresh everyone who is touched by our business.
We will continue to successfully cultivate diverse suppliers and ensure their sustainability within our global supply chain for the numerous products and services we use every day. The bottom line is we are committed to being a strong, responsible company that delivers on its promises; continues to do the right thing as the world changes; and tells the world what we stand for.
Supplier Diversity Certifications and Definitions:
Minority-Owned Business (MBE) – a minority-owned business is a for-profit enterprise, regardless of size, physically located in the United States or its trust territories, which is owned, operated and controlled by minority group members. “Minority group members” are United States citizens who are Asian, Black, Hispanic and Native American. Ownership by minority individuals means the business is at least 51% owned by such individuals or, in the case of a publicly-owned business, at least 51% of the stock is owned by one or more such individuals. Further, the management and daily operations are controlled by those minority group members.
National Minority Supplier Development Council (NMSDC) – http://www.nmsdc.org/nmsdc/
Small Business Administration 8(a) or Small Disadvantaged Business (SDB) Programs (SBA) – http://www.sba.gov/
US Pan Asian Chamber of Commerce (USPAACC) – http://uspaacc.com/
Ethnic minority and native people outside of the United States or its trust territories are defined on a regional or country based on their respective laws/regulations. The business ownership must be 51% owned by such individuals or, in the case of a publicly owned business, at least 51% of the stock is owned by one or more such individuals. Further, that Ethnic Minority individual(s) control the management and daily business operations. Certification is provided by the following organizations:
Canadian Aboriginal Minority Supplier Council (CAMSC) https://www.camsc.ca/
South Africa Supplier Development Council (SASDC) http://www.sasdc.org.za/
Minority Supplier Development United Kingdom (MSDUK) http://www.msduk.org.uk/home.aspx
Minority Supplier Development China (MSD China) http://www.msdchina.org/page/english.asp
Supply Nation Australia http://supplynation.org.au/
Woman-Owned Business (WBE) – a company that is at least 51% owned, controlled and operated by a woman or women. Certification is provided by the following organizations:
Women’s Business Enterprise National Council (WBENC) – http://wbenc.org/
National Women’s Business Owners Corporation (NWBOC) – http://www.nwboc.org/
The same definition applies to women businesses outside of the US/Puerto Rico. Certification, however, is provided by:
WEConnect International (http://weconnectinternational.org/) and is available in the following countries: Australia, Canada, Chile, China, Costa Rica, India, Mexico, New Zealand, Peru, Turkey and the United Kingdom.
Lesbian, Gay, Bi-Sexual and Transgender (LGBT) Owned Business – a company that is at least 51% owned, operated and controlled by a LGBT business owner. Certification is provided by the following organization:
The National Gay and Lesbian Chamber of Commerce (NGLCC) – http://www.nglcc.org/
Veteran Owned Business (VOB) & Service-Disabled Veteran Owned Business (SDVOB) – a for-profit enterprise presently located in the United States or its trust territories, and is at least 51% owned by an individual(s) who have performed active service in one of the United States armed services, and were honorably discharged. The term “service-disabled” means that such disability was incurred or aggravated in line of duty in the active military, naval or air-service. Individual(s) must be involved in the day-to-day management of the business. Verification is provided by the following organization:
US Department of Veteran Affairs (VA) – http://www.va.gov/OSDBU/veteran/verification.asp
8(a) Program – a company that has received 8(a) certification from the Small Business Administration.
Small Business Administration’s 8(a) Program- http://www.sba.gov/category/navigation-structure/8a-business-development-program
Small Disadvantaged Business Program (SDB) – a company that is certified as disadvantaged by the Small Business Administration.
Small Business Administration’s SDB Program- http://www.sba.gov/content/disadvantaged-businesses
Historically Underutilized Zone (HUBZone) Business – a company that is certified as HUBZone by the Small Business Administration.
Small Business Administration’s HUBZone Program – http://www.sba.gov/content/applying-hubzone-program