Supplier Diversity
Supporting the workforce of the future
As the U.S. population becomes more diverse, the number of small business owners among women, Blacks and Hispanics/Latinos continue to increase. For example, the number of Black-owned businesses increased by more than 60% between 2002 and 2007. Women-owned companies grew by 20% and Hispanic/Latino business ownership increased by nearly 44% during the same period.*
Sherwin-Williams offers access to potential business opportunities for certified minority-owned and women-owned small businesses. Our supplier diversity program continually looks for a diverse group of suppliers and connects those candidates with buyers who have specific needs.
Our commitment to supplier diversity goes beyond the belief that it’s “the right thing to do.” Sherwin-Williams benefits from the personalized, individual attention small businesses provide, and in turn, these businesses gain experience working with a global company. In addition to providing new sources of supply for our Company, developing a diverse supplier base can translate into opportunities for job creation and economic development that benefit small business owners and surrounding communities.
In addition to the relationships with our minority suppliers (a few of which are highlighted on the next page), and diversity in the product lines and services we purchase, Sherwin-Williams plays an active role with the following organizations committed to growing and supporting minority-owned businesses:
• Greater Cleveland Partnership: Commission on Economic Inclusion: Aims to achieve minority economic empowerment by focusing on the creation of jobs, opportunities, and wealth for minority businesses and professionals.
• Minority Business Accelerator (MBA) Program: Provides strategies to increase the utilization of minority-owned businesses and their regional diversity spend.
• President’s Council: Serves to support entrepreneurial and economic development within the Black community and to foster strategic alliances with CEO’s of other major corporations.
• Northern Ohio Minority Supplier Development Council (NOMSDC): A nonprofit regional affiliate of the National Minority Supplier Development Council, NOMSDC supports economic development and growth by encouraging the procurement of goods and services from local minority-owned businesses. Sherwin-Williams is a Corporate member, and in 2011 Thomas E. Hopkins, Senior Vice President of Human Resources, served as the Chair.
* U.S. Census Bureau’s 2007 Survey of Business Owners.
Supplier Diversity Spotlights
Bonnie Speed Logistics is a minority-owned business that has worked with Sherwin-Williams for over a decade handling commercial and residential paint store deliveries and courier service for corporate small package distribution. Under the direction of Kenneth Hardy, CEO and partner Darryl Stovall, COO, Bonnie Speed has become one of the most successful small businesses in Northeast Ohio. After acquiring the Cleveland-based company in 1990, Hardy and Stovall have transformed Bonnie Speed into the diversified global transportation logistics provider it is today. As a result of our partnership, the company continues to expand its services from courier deliveries to freight logistics, warehousing and international trading.
Sherwin-Williams’ relationship with Bonnie Speed extends beyond the traditional courier and freight services. Our Chairman and CEO, Christopher Connor, and Bonnie Speed’s CEO, Kenneth Hardy, participated in the President’s Council “Boardroom-to-Boardroom” program, in which a majority CEO mentors a minority CEO. The relationship between Mr. Connor and Mr. Hardy has helped both of the individuals and their companies work toward and accomplish numerous successes.
Elsons International works with Sherwin-Williams and specializes in packaging solutions and inventory management. Since 1984, the company has operated as a full service manufacturer and distributor of corrugated packaging to the food and beverage and consumer products industries as well as the U.S. government. Steven Williams, President and CEO, says federal supplier diversity initiatives and corporate diversity programs are key factors to his company’s success. In order to leverage the benefits of supplier diversity, Steven encourages all companies to work with diverse suppliers. He also encourages those same companies to institute a second-tier supplier program to cultivate minority- and women-owned businesses.
Connecting with suppliers of raw materials used in the manufacture of paints, coatings and finishes can present challenges; however, the opportunities to partner with diverse suppliers exist. In 2010, Sherwin-Williams purchased $10 million worth of raw materials from Specialty Polymers, Inc., a women-owned U.S. chemical company.
