Since the Supplier Diversity Development Program began in 1972, JCPenney has experienced tremendous growth in merchandise, as well as goods and services purchased through minority and women-owned businesses. In that first year of the program, purchases from minority-owned businesses totaled $5 million. By 1996, JCPenney had relationships with minority and women-owned businesses for a dollar volume of $675 million.
In 1993, women-owned businesses became an integral part of our Supplier Diversity Development Program. By 1996, JCPenney had developed partnerships with over 300 women-owned businesses for a dollar volume of $238 million.
Working in conjunction with minority and women-owned businesses enables us to understand the customer of today and tomorrow, develop new processes that build competitive advantages for JCPenney; and bring the product to market at an ever-increasing speed with outstanding style, quality and value. JCPenney remains committed to the business development of minority and women-owned businesses, based on the principle of partnership, wherein two or more groups share in the risks and rewards of working toward common goals. We have found that establishing relationships with minority and women-owned businesses leads to win-win partnerships. The Small Business Administration’s Online Women’s Business Center will be a highly useful resource for women-owned businesses and JCPenney is proud to join in corporate support of this endeavor.
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