Inclusion, Diversity & Equity
A network of opportunity in supply chain diversity
Driving economic opportunity through supply chain diversity
Think about the device you’re using to read this article. You can see the brand name, but who made the components? Who fabricated the screen? And what can supply chain decisions do to assist the people and communities that helped create the device?
Pathways to equity and diverse new ideas
Prioritizing supplier diversity isn't about philanthropy or checking a compliance box. Working with diverse businesses stimulates long-term economic impact; creates jobs and opportunities for communities; and builds more innovative, resilient, and agile supply chains for businesses. Since financial stability and wealth are inextricably linked to better health outcomes, we can improve the lives of generations to come when we work with traditionally underserved communities.
Beyond societal economic impact, we gain a competitive advantage through the diverse perspectives and innovation that supplier diversity provides. We expect each of our businesses to support suppliers owned by women, ethnically diverse groups, people with disabilities, LGBTQ+ individuals, veterans, and those located in historically underutilized or disadvantaged business zones.
When we work with diverse businesses, economic impact ripples through whole communities. It’s more than a financial contract. It’s new wealth, new jobs, and new skills that impact the root causes of systemic inequities.”
–Geoff Martha, Chairman and CEO, Medtronic
The teams extending our impact
The interconnected teams that bring products to life are far-reaching. Every decision made along that supply chain is another opportunity to choose equity. Each year, we continue expanding our network of diverse businesses.
PMC SMART Solutions
PMC SMART Solutions has the flexibility and expertise to meet difficult contract manufacturing needs across a variety of Medtronic therapies. When a 25-year-old product line needed a new manufacturer, PMC SMART Solutions stepped up to redefine the device’s technical specs, source new materials, and evolve how the product was built. And, as a women-owned business in a male-dominated manufacturing industry, PMC SMART Solutions helps build the next generation of female STEM leadership through internships and flexible work schedules.
We have the technology to set us apart from other suppliers. So, being a women-owned business speaks for itself — and to other businesses — that there are diverse businesses who bring better value to the table.”
–Lisa Jennings, CEO, PMC SMART Solutions
JIT Energy Services
At JIT Energy Services , one of our largest Black-owned suppliers, a diverse leadership team factors equity into every decision — and the results and relationships show. Over the last 12 years, JIT’s energy management solutions have moved us closer to our goal of being carbon neutral by 2030. Using real-time data and intelligence, JIT has reduced our waste, water, and energy use to drive more than $50 million in savings.
Our relationship with Medtronic is about collaboration. We bring value to Medtronic to help the company save time and energy, and Medtronic is elevating us as a thought leader to champion both diversity and sustainability.”
–Ravi Norman, CEO, JIT Energy Services
Reason Research
LGBTQ-owned Reason Research provides the "voice of the customer” so we can better understand the needs of patients and physicians. The customer market of Reason Research helps us move faster and expand the accessibility of our technologies. Reason Research also amplifies diverse voices in its own operations by participating in the Diversity Alliance for Science, an organization that helps small and/or diverse businesses drive inclusive procurement practices in the life science and healthcare industries.
Supplier diversity signals that companies aren't just talking about inclusion, they’re DOING it beyond their own walls.”
–Gary White, CEO, Reason Research
In 2021*:
$2.4B purchases from small or minority-, women-, veteran-, disabled-, or LGBTQ-owned businesses
$4.3B economic production activity
27,919 jobs supported in the United States at small and diverse businesses, lower-tier suppliers, and community businesses
$1.6B wages and benefits earned through supported jobs
$1.4B in U.S. federal, state, and local taxes generated
Small suppliers make a big impact
As a woman-owned company focused on sustainability, PKG Packaging provides good jobs for workers in Oxnard, California, a Hispanic-majority city with a rich agricultural heritage. The company specializes in providing innovative and sustainable packaging for businesses across the country, including Medtronic. Since 1998, PKG Packaging has provided us with packaging solutions for insulin pumps used by diabetes patients. PKG actively recruits workers from the community and offers student workers flexible hours, allowing them to earn income to support themselves while earning a degree at the local college.
Supply chain diversity is business opportunity
Collaboration with partners is critical to delivering our lifesaving technologies around the world. And supplier diversity is one of many ways in which we can be intentional about those partnerships and the economic impact we make. Together with organizations like PMC SMART Solutions, JIT Energy Services, Reason Research, and PKG Packaging, we can continue to create jobs and support future generations.
*Reflects Medtronic fiscal year 2021; data represents spend on diverse suppliers in the United States and Puerto Rico only.
