Abbott ranked No. 9 on the Fair360 Top 50 Companies for Diversity list in 2023.
Abbott has been recognized as the newest member of the Billion Dollar Roundtable (BDR), an organization dedicated to encouraging supplier fairness spending.
To join the BDR, companies need to spend at least $1 billion each year with diverse businesses. The milestone demonstrates the positive impact that businesses can have in advancing opportunities for small and underrepresented businesses.
Abbott works with more than 1,300 suppliers, including certified minority-, women-, disabled-, LGBTQ- and veteran-owned businesses. The company spent $1.7 billion with businesses in 2022, an increase of 63% from 2021.
“Supplier diversity is an integral part of our broader work to build a resilient and sustainable supply chain,” wrote the company. “A wider pool of potential suppliers helps strengthen supply chain resilience and ensure business continuity, and also promotes competition in the supply chain, which can enhance products and services and decrease costs.”
Abbott’s efforts in supplier fairness have supported over 7,500 jobs.
