BCBSM consistently rates among the state’s leaders in building winning partnerships with minority businesses. “Even though we win year-over-year we don’t take the win for granted,” said Jim Line, senior director, Corporate Procurement. “We are constantly trying to find new ways to engage and expand the program.”For the ninth year, and the fifth consecutive, the Michigan Minority Supplier Development Council honored Blue Cross as the Corporation of the Year in Financial & Insurance Services for Supplier Diversity. Minority business enterprises select the nominees for the annual awards. Companies are then judged on several key factors, including support of the Michigan Minority Supplier Development Council’s best practices and programs, mentoring minority businesses and educating internal staff on supplier diversity. “Through supply chain diversification a company can reap the rewards of diversity of thought, market segment insights, innovation and consumer loyalty,” said Lynn Garrison, supplier diversity administrator, Corporate Procurement. The mission of the BCBSM’s Supplier Diversity Program is to establish best-in-class business development practices that empower the diverse communities it serves. The diverse suppliers bring innovative ideas that implement cost savings. “Research shows that companies that focus heavily in supplier diversity generate a greater return on procurement investments than the typical business,” Line said. “Consistently introducing and providing opportunities for new and diverse vendors to show their capabilities also was important. “It’s a company effort, and without the support of the business units, we wouldn’t be able to achieve our mutual goals,” he said. If you enjoyed this post, you might also like:
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