Second-Tier Sourcing
From Handwiki Second-tier sourcing is a procurement policy used by many Fortune 500 corporations. Second-tier sourcing is a practice of rewarding those suppliers that achieve or attempt to achieve the minority-owned business (MBE) spending goals of their customer.
The program was started by Chrysler Corporation in 1993 and now extends throughout the Fortune 500. In 2005, Toyota set a goal of 10% for their suppliers and holds an annual matchmaking event to help their suppliers achieve those goals.
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Categories: [Procurement]
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☰ Source: https://handwiki.org/wiki/Finance:Second-tier_sourcing | License: CC BY-SA 3.0
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