SafeSourcing Wiki [S-T]

Return to Main Wiki Index

History for Second tier sourcing (history as of 12/16/2014 16:37:50)

This is a procurement policy that is used by various Fortune 500 corporations. This is a practice of rewarding suppliers for attempting to achieve minority-owned business spending goals of their customer(s).

 

The program was created by the 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.

  

|<< Back |