For the sixth consecutive year, Verizon has been named one of the top American corporations for women's business enterprises by the Women's Business Enterprise National Council.
The company was honored for its world-class supplier diversity program, which creates a level playing field for women's business enterprises to compete for corporate contracts.
In 2009, Verizon spent $3.7 billion with diverse suppliers including women-owned businesses, an increase of $200 million over the company's total for 2008.
"A diverse supplier base that includes minority- and women-owned businesses is a key component of Verizon's business strategy," said Christine Baron, vice president of supply chain services for Verizon. "These suppliers help cultivate new ideas as well as provide quality goods and services that help us do what we do best - deliver the best in broadband technology."
By forging strategic national, regional and local partnerships with a variety of community and business organizations, Verizon has consistently increased its spending with companies owned and managed by minorities, women, people with disabilities and Vietnam-era and service-disabled veterans (MWDVBE).
One example is KGP Logistics, which specializes in deployment services, equipment distribution and logistics and is certified as a women-owned business by the Women's Business Enterprise National Council.
"Our relationship with Verizon is one where true value is created," said KGP Chairman and CEO Kathleen G. Putrah. "Whether working together to decrease the costs of deploying fiber to the home or driving savings and efficiencies across Verizon's supply chain, KGP and Verizon have found innovative ways to build upon a valued relationship that spans over two decades."
In addition to the community- and business-organization partnerships Verizon has formed, Verizon's Second Tier/Prime Supplier Program has traditionally enhanced opportunities for women-owned businesses by continually increasing the number of prime suppliers participating in the program and encouraging the use of women and minority suppliers as subcontractors.
A Long-Standing Commitment to Diversity
Verizon's long-standing commitment to diversity is based on a culture of inclusiveness that leverages the diversity of employees, customers, suppliers and community partners. Women hold 29 percent of the senior management positions at Verizon, including key roles in designing and operating Verizon's advanced broadband and global IP networks, and overseeing key functions like supply chain services and real estate.
For more information about Verizon's commitment to diversity, visit http://newscenter2.verizon.com/kit/diversity/.
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.