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?
Prioritizing supplier diversity isn't about simply 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 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. Here are a few examples of our diverse suppliers:
A Minnesota-based consultancy, WeCo was founded virtually in 2011 by web developer Lynn Wehrman, who was born with cognitive disabilities.
WeCo has helped us enhance the accessibility of Medtronic corporate branding materials and communication documents — ranging from alternative text for images, improved color contrast, and simplified formatting for use by employees who utilize assistive technology. They have also partnered with us to create customized training courses on digital accessibility, enabling Medtronic employees around the globe to learn best practices and principles for ensuring a digitally inclusive environment for all.
As a small disability-owned business, we’re proud to work with Medtronic because they’re prioritizing digital inclusion. They are eager to learn from us and together we are working toward the shared vision of improving accessibility for all.”— Lynn Wehrman, Founder and President, WeCo Accessibility Services
A Massachusetts-based supplier of precision mechanical springs, wire forms, and stampings, Springfield Spring knew obtaining corporate clients was key to growing its business. Its owner, Hispanic American Norman Rodrigues, connected with the Medtronic Hispanic Latino Network (HLN), which helped guide Springfield Spring and Stamping to successfully meet our stringent criteria for quality, innovation, and supply chain standards.
As a certified minority-owned company (also known as Minority Business Enterprise, or MBE), Springfield Spring and Stamping has seen its Medtronic-based revenues rise — all while helping local community members gain access to the bedrock of wealth creation: a well-paying and reliable job.
Our partnership with Medtronic has become one of the cornerstones to our business growth — with sales projected to surpass $1 million within the next two years. This growth allows us to invest in new manufacturing technologies, while also building sustainable wealth and economic security for our employees. It’s truly a win-win for everyone.”— Norman Rodrigues, Owner, Springfield Spring Corporation
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
At Sagiliti, one of our largest Black-owned suppliers, a diverse leadership team factors equity into every decision — and the results and relationships show. For more than a decade, Sagiliti’s energy management solutions have moved us closer to our goal of being carbon neutral by 2030. Using real-time data and intelligence, Sagiliti 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, Sigiliti
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
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 WeCo, Springfield Spring, PMC SMART Solutions, Sagiliti, and Reason Research, we can continue to create jobs and support future generations.
*Reflects Medtronic fiscal year 2024; data represents spend on diverse suppliers in the United States and Puerto Rico only.
