Toyota’s supplier diversity processes have their foundation in “The Toyota Way” — our corporate philosophy built upon the two guiding principles of “Continuous Improvement” and “Respect for People.” These values and corresponding behaviors are incorporated into our global Purchasing Principles and they challenge us to seek improvements and foster long-term business relationships.
Supplier diversity is part of a broader corporate commitment to diversity and inclusion at Toyota, making it an essential element of our company’s business strategy. Toyota employees are expected to demonstrate inclusive attitudes and practices every day and inclusion is a measurable performance factor for individuals, groups and business divisions. As a result, diversity is part of Toyota’s corporate DNA.
Our executive leadership’s active attention and support of supplier diversity ensures it remains a priority at Toyota and because we take a company-wide, integrated approach to supplier diversity, more suppliers are engaged with opportunities at every level and division of our company. While we are proud of Toyota’s achievements and accomplishments in developing a diverse and sustainable supplier base, we recognize much remains to be done in bridging the gaps between diverse suppliers and corporations. Toyota will continue to move forward in developing world-class supplier diversity standards and processes that generate tangible opportunities and economic sustainability for our suppliers.
Through our Supplier Diversity processes, Toyota will continue to generate business opportunities that position diverse entrepreneurs for economic sustainability, yield competitive advantages for our company and deliver exceptional mobility experiences for our customers through innovation.
The two guiding principles of The Toyota Way — continuous improvement and respect for people — encourage us to challenge the status quo and build collaborative relationships in every aspect of our business. To achieve success in today’s increasingly globalized economy, it is imperative that Toyota cultivates a dynamic and inclusive corporate culture, one which fully engages the passions of diverse people who believe there is always a better way. We consider diversity and inclusion as strategic business priorities. Specifically, Toyota’s objective is to develop world-class standards for diversity throughout every aspect of our operations, including our community and business partnerships. This commitment positions Supplier Diversity as an essential business strategy for Toyota. We know that partnering with suppliers who provide innovative ideas and new efficiencies – in addition to delivering excellent manufacturing support, material goods and professional services – will yield significant competitive advantages for our company. Most important, as we build relationships with MBEs, WBEs and other diverse entrepreneurs in communities across North America, our supplier base continues to better reflect the diversity of our customers, partners and team members. Toyota will continue to focus on building strong, sustainable partnerships with diverse entrepreneurs — generating more potential opportunities for business development and localized economic growth. Toyota’s Supplier Diversity processes also include professional development support, capacity-building resources and networking activities for diverse businesses.
While we are proud of Toyota’s achievements and accomplishments in developing a more diverse and sustainable supplier base, we recognize much remains to be done in bridging the gaps between diverse suppliers and corporations. We appreciate the opportunity to be a leader in this important, ongoing conversation.