September 22nd, 2011
Some Thoughts on Achieving our Responsibility to the Community Through Minority-owned Businesses
From Hans Melotte, Chief Procurement Officer, Johnson & Johnson
One of the ways my colleagues and I across the Procurement function contribute to fulfilling Johnson & Johnson’s responsibility to communities is with a growing focus on supplier diversity. Working with minority- and women-owned businesses reflects who we are as an organization, enriches our communities and builds economic capacity through job and wealth creation.
At Johnson & Johnson, Hispanic-owned businesses and other diverse enterprises are an important part of our supplier network. Our relationships with these minority-owned businesses reinforce our ties to a diverse consumer base of patients, doctors, nurses, employees and others. In supporting the growth and increased capacity of Hispanic- and other minority-owned enterprises, we help our communities strive economically. The proof is in the numbers. In the past five years, despite a troubled economy, Hispanic-owned businesses have experienced a growth rate of 114% and have generated nearly $400 billion in annual revenue in the U.S.
Earlier this week, we were honored to be acknowledged by the United States Hispanic Chamber of Commerce with their 2011 Corporation of the Year Award. The award recognizes companies that are committed to integrating Hispanic-owned businesses into their sourcing and procurement processes. This recognition, and others like it, underscores our commitment to Our Credo and the leading role Johnson & Johnson plays in this area.
Understanding the ways in which our Procurement team can help local communities is incredibly inspiring. The USHCC’s Corporation of the Year Award recognizes the dedication and enthusiasm of the men and women of our global Procurement function who continue our supplier diversity journey. The journey is far from over, as there are many more opportunities to establish relationships that will help us incorporate supplier diversity as a part of all of our sourcing activities.