Supplier Diversity
Our Commitment
Transamerica’s commitment to diversity doesn’t stop with the people we employ or the way we do business in the marketplace — it extends to the suppliers we depend on every day. Our Supplier Diversity Program strengthens our capability to identify high-quality goods and services, while driving value and economic development in the communities we serve.
“Our core values at Transamerica include tuning in, stepping up, and being a force for good. I can think of no better way of accomplishing these objectives in procurement than by focusing on supplier diversity and sustainable procurement. We are proud to be recognized for building a culture of inclusivity and doing business with qualified small, minority, veteran, disabled, LGBTQ+ and women-owned businesses furthers that goal.”
— Lawrence Kane, Head of Procurement
Program Overview
We’re dedicated to fostering business relationships with diverse suppliers who offer high-quality goods and services with competitive pricing.
The objectives of our Supplier Diversity Program are to:
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Actively seek out small businesses and certified diverse suppliers that can provide competitive, high-quality goods and services.
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Establish a method of self-certification and registration for diverse suppliers that meet qualification requirements.
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Ensure the inclusion of diverse suppliers is built into the strategic sourcing and procurement process.
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Drive broader organizational awareness and adoption of the program, its value, and how it aligns to our core values.
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Achieve year over year increases in the number of small businesses and certified diverse suppliers as well as the percentage of our addressable spend with this important supplier segment.
Program Eligibility
To be considered eligible, businesses must be:
- Located within the United States, its territories, or possessions
- Owner/s must be U.S. citizens or legal residents
- A Small Business or
- At least 51% owned and operated by a woman, minority, veteran, disabled veteran, or LGBT individual
- Certification is available through several organizations including the following agencies:
National Minority Supplier Development Council or regional affiliate
Women’s Business Enterprise National Council
National Women Business Owners Corporation
National Gay & Lesbian Chamber of Commerce
Supplier Criteria
Suppliers are chosen first on their ability to meet the needs of our business. All suppliers must meet the following criteria:
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Financially stable
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References and a proven track record
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Agreement to Transamerica’s terms and conditions
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Core competency in supplier’s line of business