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History for Second tier sourcing (history as of 05/14/2014 15:52:06)

a practice of rewarding suppliers for attempting to achieve minority-owned business spending goals of their customer.

The program was started by Chrysler Corporation in 1993 and now extends throughout the Fortune 500. In 2005, Toyota set a goal of 10% for their suppliers and holds an annual matchmaking event to help their suppliers achieve those goals.

  

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