Strengthening Diversity in Semiconductor Supply Chains
by Jackie Sturm Corporate Vice President, Global Supply Chain Operations at Intel Corporation
"Creating a more diverse and inclusive semiconductor ecosystem is pivotal for long-term economic growth. By working with diverse owned suppliers, we can increase resiliency, drive broader innovation, and generate new value within our global supply chain and the communities in which we operate." - Jackie Sturm Corporate Vice President, Global Supply Chain Operations at Intel Corporation
Creating opportunities for diverse business owners to thrive isn't just good for individuals and communities. It's good for business. According to a 2020 study by McKinsey and Co., businesses that increase diversity and inclusion in the workplace have 19% higher innovation revenues, maintain a 35% performance advantage over their homogenous counterparts, and are 36% more profitable.
These benefits can also be realized by creating a more diverse and inclusive semiconductor ecosystem. By working with diverse-owned suppliers, we can create more resiliency, while generating greater innovation and value within our global supply chain and the communities in which we operate.
Intel officially launched its Supplier Diversity and Inclusion program in 2015. Two years ago, we announced that we would increase our global annual spending with diverse suppliers to $2 billion by 2030—a 100% increase from our 2020 goal of $1 billion. Today, we are on track to reach the $2 billion goal ahead of schedule.
We recently had a chance to catch up with three businesses that participate in Intel's Diverse Supplier program, and here's what they had to say about diversity, inclusivity, and what the program means to the semiconductor industry.
Diversity, Inclusivity Lift Up Communities
Developing a diverse semiconductor ecosystem creates opportunities for Americans from historically underserved communities, including people of color, people from rural communities, veterans, and women.
"Some of the ways supplier diversity positively impacts communities is by increasing opportunity for underrepresented businesses and uplifting communities through job creation and wage increases, which puts money back into the community," said World Wide Technology, co-owner David Steward in a written interview.
St. Louis, Missouri-based World Wide Technology is a global technology solutions provider that now sees $17 billion in annual revenue. It helps conceptualize, test and validate innovative technology solutions and then deploy them at-scale through its global warehousing, distribution and integration capabilities.
Owners David Steward and Jim Kavanaugh joined Intel's supplier program in 2016 and have since demonstrated significant scalability by expanding to provide integrated IT systems and services for Intel's global footprint. WWT helped streamline a complex process and boosted global support for Intel's network equipment and security solutions.