- FedEx procured $9.1 billion of goods and services from diverse suppliers in fiscal 2017, according to the company's Global Citizenship Report. Of the $9.1 billion spent, FedEx said 9% of the money went specifically to women-owned businesses.
- FedEx's diverse supplier spend in 2017 was slightly lower than its spend in 2016 ($9.2 billion) but significantly higher than 2015 ($6.7 billion).
- The company also outlined strategies it uses to collaborate with its suppliers "for mutual success."
A commitment to sourcing from minority-owned businesses often makes business sense, as Walmart discovered with its initiative to source $20 billion from women-owned businesses in five years. The retailer's primary customers are women, so investing in women-owned business was key to connecting Walmart to its consumers.
Businesses overall have found success in sourcing from diverse suppliers, in many cases exceeding the companies' expectations.
"We strengthen our supply chain by proactively sourcing from small, minority- and women-owned businesses," FedEx said in its report, recognizing that "an evolving supply chain" requires diverse goods and services to accommodate various demands.
FedEx's work with suppliers isn't strictly transactional. The company said it collaborates with suppliers to ensure they adhere to FedEx's code of conduct.
"FedEx suppliers work closely with us to mitigate risks, especially those inherent in extended supply chains," the company stated. Long and global supply chains often face issues such as poor labor conditions in factories or poor sustainability practices on farms.