Supplier Diversity

Overview

 

Diversity

The Federal Reserve Bank of Richmond is committed to strengthening the economy and improving our communities, and supplier diversity plays a critical role in how we do that. We provide access and opportunity to diverse suppliers to participate in procurement and contracting processes throughout the Bank’s supply chain.

Overview

At the Federal Reserve Bank of Richmond, we believe three things about supplier diversity:

  1. It’s about access and opportunity.
  2. It brings value to the Bank and our communities.
  3. It’s everybody’s job.

 

It’s about access and opportunity.

We are committed to strengthening the economy and improving our communities, and supplier diversity plays a critical role in how we do that.  We know that small, minority-owned, women-owned and other diverse businesses play a vital role in the economic well-being of our communities. As a result, we strive to provide access and opportunity to qualified suppliers that can offer diverse resources and expertise.

It brings value to the Bank and our communities.

Supplier diversity aligns with the Bank’s vision of being an innovative policy and services leader for America’s economy, advances our widely acknowledged and respected diversity and inclusion practices, and enables us to deliver the best overall solutions to our constituents. Engaging a diverse pool of highly qualified suppliers better enables us to drive down costs through increased competition, deliver high-quality products and services to constituents, produce innovative and flexible solutions, provide enhanced customer service, streamline processes, and mitigate risk of supply chain disruptions.

It’s everybody’s job.

We know that supplier diversity success flows from intentional, deliberate and consistent effort by every person who influences a buying decision. That’s why supplier diversity practices are embedded in our existing procurement processes and guidelines. Our procurement and supplier diversity staff collaborates with departments and business lines to provide the maximum opportunity for diverse suppliers to participate in our procurement processes.

What’s your role?

Help us understand your capabilities and the unique value proposition you offer.

Contact Us
Computers
Procurement Services

To be considered for the Bank's local and information technology procurements or the NPO's national procurements, please use the self-registration tool.