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Supplier Diversity

When we work together, we grow together

Our commitment

Learn more about our commitment to supplier diversity and its importance to our business.
Our commitment

Participation requirements

We help provide diverse suppliers with a broad range of opportunities to participate.
Participation requirements

Partnership

We collaborate with regional and national organizations that assist us in building a more inclusive practice.
Partnership

Our approach

Diverse spend growth. Support strategic thinking and align with businesses around strategic opportunities that include diverse suppliers in competitive sourcing and procurement opportunities.

Supplier development. Invest in building capacity and expertise for high potential diverse suppliers.

Outreach. Partner with internal and external stakeholders to deliver information to the diverse supplier community.

Our process

Engaging Supply Chain Management

Early engagement of Supplier Diversity will start the data gathering process (benchmark data, peer information, and diverse supplier identification).

Requirements gathering

Supplier Diversity involvement will support the search and identification of qualified and capable diverse suppliers. This allows the gathering of information on any roadblocks that may limit diversity participation.

Evaluate product/service requirements

Supplier Diversity will analyze the category for diverse supplier engagement (first- or second-tier).

Sourcing and due diligence

Supplier Diversity provides input and reviews sourcing document (RFx), ensuring language pertaining to diversity (commitment, spend, reporting, etc.) is present and meets the goals and objectives.

Negotiate Contracts

Supplier Diversity is engaged/notified of any disputes related to second-tier contract language and defined goals.

Approvals and signatures

Onboarding training for second-tier tracking and reporting

Outreach

Our partnerships expand across regional and national organizations that share our commitment to Supplier Development and provide programs and services that strengthen diverse businesses within our communities. In 2019, we invested $3 million in capacity-building programs and other initiatives, collaborated with two universities, and impacted over 750 suppliers. We collaborate with organizations that align with diverse supplier identification, certification, development, and engagement, such as:

  • 100 Black Men of America
  • National Association of Minority Contractors
  • National Gay and Lesbian Chamber of Commerce
  • National Minority Supplier Development Council
  • Disability:IN
  • United States Hispanic Chamber of Commerce
  • United States Pan Asian American Chamber of Commerce
  • National Association of Women Business Owners
  • Urban League
  • Women’s Business Enterprise National Council
  • Women Presidents’ Organization

What does diversity mean to Wells Fargo?

We value and promote diversity and inclusion in all aspects of business and at all levels. Success comes from inviting and incorporating diverse perspectives.

More information