66 www.blackeoejournal.com Black EOE Journal
SUPPLIER DIVERSITY
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iven one of the biggest hurdles for small businesses, especially diverse-owned busi- nesses, is access to working capital, Albertsons Cos. is launching an expanded early payment program by partnering with C2FO, a secure online platform for working capital, as part of this program. This partnership with C2FO will help determine the best time and terms for pay- ments between Albertsons Cos. and suppliers. The goal is to help diverse-owned businesses alleviate immediate capital challenges by mak- ing access to working capital more equitable by providing funding to qualified, diverse-owned suppliers at significantly lower rates. Albertsons Companies announced the launch of several new vendor partnerships aimed at helping the company boost supplier diversity as the company reaffirms its commitment to racial equity.
PHOTO CREDIT: ADOBE STOCK
Albertsons Enhances Supplier Diversity Program
Albertsons Companies is dedicated to help- ing our communities lay the foundation for racial equity, said Jonathan Mayes, Albertsons Companies SVP, Chief Diversity & Inclusion Officer. Accelerated payment of receivables is essential for all businesses in need of greater liquidity, but especially for those that may be underrepresented and underfunded in our cur- rent financial system, said Alexander Sandy Kemper, founder and CEO of C2FO. We want to position these diverse suppliers for long-term success and can start by offering the working capital needed to grow and stay strong in this difficult economic climate. We are honored to join Albertsons Companies in their ongoing efforts to support the partners and communities it serves. Albertsons Cos. also plans to work with ECRM, RangeMe, and Quantum to expand supplier diversity. ECRM and RangeMe will help identify small, innovative, diverse suppliers. Quantum, an eProcurement and diversity spend management solution, will enhance Albertsons Cos. ability to identify diverse-owned and operated suppliers.
Source: Albertsons
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