Albertsons reaffirmed its commitment to diversity, equity and inclusion as the company expands its Supplier Diversity Program.
The company is seeking to partner and support innovative and diverse suppliers as Albertsons hosts its second virtual summit this week.
“Albertsons is dedicated to providing opportunities to diverse suppliers to grow their business and have their products on more shelves,” said Jonathan Mayes, Albertsons senior vice president, chief diversity and inclusion officer. “Through this program, we are able to partner with new diverse businesses that also reflect the diverse communities we serve across the nation.”
The company noted that one of the biggest challenges for small businesses is access to working capital. Albertsons offers an expanded early payment program through its partnership with C2FO, a secure online platform that provides funding to qualified, diverse-owned suppliers at significantly lower rates.
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By making access to working capital more equitable, diverse-owned businesses can alleviate immediate capital challenges.
The retailer previously hosted its first successful virtual event in May 2021 with nearly 1,000 diverse suppliers interested in partnering with the company. For 2022, Albertsons will continue its work with ECRM, RangeMe and Quantum to broaden its reach and help identify a diverse group of candidates.
Albertsons is seeking submissions from suppliers that are over 50% owned and controlled or operated by a United States citizen and one of the following categories or ethnicities: African American, Asian American, Hispanic, Native American, lesbian, gay, bisexual and transgender, service-disabled veteran or female.
Applications must be submitted online by Feb. 7, and suppliers who have been accepted into the Supplier Diversity Program will be alerted in April.