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At Pitney Bowes, we clearly recognize the growth opportunity
business diversity creates—not only in expanding our
market access, but also in widening our base of mutually beneficial
business relationships. Our efforts at supplier development
pay off in multiple ways; we gain access to new customers
and investors, and the earnings of our vendors spreads capital
through communities. |
Michael J. Critelli
Chairman and CEO
Pitney Bowes Inc. |
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| challenge: |
solution: |
| Contracting suppliers who provide the most competitive
prices, technologies, service and turn-around. What’s an efficient
way to identify motivated, reliable, leading-edge firms for your needs? |
Minority- and women-owned business enterprises are high-quality,
low-cost competitors across a range of industries. These entrepreneurs
supply more than $40 billion in goods and services to American corporations. |
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| Tight economic times mean increasing
competition for cost-effective, time-sensitive, quality products
and services in the corporate supply chain. Corporations around
the country are profiting from the proven track record of minority-
and women-owned firms as quality suppliers of products and services
in the global economy. According to the Small Business Administration’s
Office of Advocacy, such firms make up one of the fastest growing
segments of the U.S. economy. In 1997, more than 3.2 million minority
owned businesses generated $495 billion in revenues. As of 2003,
the Minority Business Roundtable reports that minority-owned firms
account for aggregate sales of nearly $600 billion.
Purchasing from or contracting with a diverse set of dynamic suppliers
can give companies an important edge in their search for efficiency
and innovation, and also spurs growth of small-to-medium size firms
that are key contributors to a vibrant economy. At the same time,
these relationships can facilitate entry to new markets both at
home and abroad, as minority entrepreneurs provide insights and
access to communities where wealth and population are growing.
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