Lululemon looks to increase supplier diversity for corporate buying - The Entrepreneurial Way with A.I.

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Thursday, February 9, 2023

Lululemon looks to increase supplier diversity for corporate buying

#SmallBusiness

Lululemon launched a program to increase supplier diversity in its non-merchandise purchasing operations. 

The program will take a “phased approached” and begin with a focus on U.S.-based firms certified as 51% or more owned and operated by underrepresented racial groups, women, persons with disabilities, veterans and those identifying as LGBTQ2IA+, Lululemon said in a Tuesday press release.

By 2026, the athleisure brand and retailer plans to roll out the program to other “key” regions. Lululemon is also working to introduce programs for training and development for its diverse vendors and as well as diversifying the supply chains of existing large suppliers.

“Within our supply chain, we have an important opportunity and responsibility to support these goals by ensuring inclusivity in every practicable sourcing event,” said Stacia Jones, VP and global head of Lululemon’s IDEA (inclusion, diversity, equity and action) unit. 

With the program, Lululemon aims to increase the volume of non-merchandise goods and services from diverse suppliers certified by third parties, increase access to decision makers for diverse vendors, and encourage its non-diverse prime suppliers to buy their products and services from diverse suppliers, according to an executive statement

The company has not yet released any specific targets tied to the initiative. 

Lululemon’s non-merchandise purchasing includes contingent staffing, technology, office suppliers, store fixtures, legal services and other corporate and operational needs.





via https://www.aiupnow.com

Ben Unglesbee, Khareem Sudlow