Supplier Diversity

Diverse business inclusion. Include diverse suppliers in competitive sourcing and procurement opportunities related to strategic initiatives.

Capacity building. 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.

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

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. We collaborate with organizations that align with diverse supplier identification, certification, development, and engagement.

Wells Fargo celebrates over 30 years of engagement with diverse-owned companies. Through our Supplier Diversity program, we support the growth of small businesses and businesses owned by minorities, women, veterans, people with disabilities, and LGBTQ+. Supplier diversity adds value to the organization by ensuring that our supplier base mirrors the customers and communities we serve.

Our Supply Chain Management function is committed to ensuring supplier diversity is integrated into its strategic sourcing and procurement processes to generate efficiency, innovation, and increased opportunities for diverse suppliers. We’re committed to accomplishing this mission by establishing and supporting partnerships with the diverse business community, developing these businesses for growth, and engaging with community organizations that share our commitment.

We’re further committed to monitoring our practices for effectiveness through performance goals and ensuring our commitment is emphasized by all levels of management and communicated to all team members and stakeholders. Together with our diverse suppliers, we can contribute to the long-term economic sustainability of our communities.⁠