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Kodak Named One Of 30 Best Companies For Supplier Diversity By Working Woman

Wednesday, April 04, 2001

Press release from the issuing company

ROCHESTER, N.Y., April 4 -- Eastman Kodak Company has been named to the inaugural list of the 30 U.S. companies with the best track records for buying goods and services from minority and women-owned businesses by Working Woman magazine. The list was published in the Working Woman magazine's April 2001 issue, now on newsstands. It was compiled by ranking the "Top 30" companies with the highest percentages of purchasing dollars spent with women and minority-owned businesses. Kodak placed 17th. "Working Woman congratulates Kodak and all of the companies on being named to the inaugural Supplier Diversity list," said Lisa Benenson, editorial director of Working Woman Network. "Clearly, these companies understand the competitive advantages of working with women and minority-owned businesses and have increasingly demonstrated their commitment to supplier diversity with both dollars and programs instituted to encourage business with these markets. "Supplier diversity programs level the playing field for women and minorities by helping them compete with much larger vendors for lucrative corporate contracts," Benenson added. "The best way to minimize long-standing challenges like racism, sexism and complacency in the corporate world is via consumer awareness." According to the magazine, the first and most important trend driving the corporate movement toward supplier diversity is the country's changing demographics. The U.S. Census Bureau reports that, with the boom in minority populations, the entire country is poised to follow California's lead and go "minority majority." The combined purchasing power of the country's minorities is expected to top $1.3 trillion this year. As women become increasingly aware of the buying patterns of corporations, they are seven times more likely to buy from companies that support them, the magazine noted. "We are pleased and gratified by the recognition Working Woman magazine has provided for our efforts to nurture a diverse supplier base at Kodak," said May E. Snowden, Chief Diversity Officer at Kodak. "Last year, our Supplier Diversity team awarded more than $240 million in contracts to qualified contractors and sub-contractors who are now part of our supplier network. We view that as an important part of our corporate commitment to a diverse culture."




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