by Ray Hayes
According to Gulf News, with “approximately 70 per cent of its five billion customers being women, Procter & Gamble (P&G) says it has a strong business case to increase the number of women-owned and operated businesses in its supply base.” Currently P&G spends about $40 billion a year procuring products and services from its entire supply base. If just half of the 70% female consumer can be reflected in the company’s supply base, women owned business would see revenue reach $14 billion.
Andy Butler, associate director of supplier citizenship, spoke about the importance of catering to women owned businesses and the potential benefits of the campaign. “Today, consumers want to know the company behind the brands they trust. A gender equal world is a better world for everyone.”
P&G is doing a good job purchasing from women owned companies domestically, however the company wants to expand those opportunities to a global market. Over the next three years, P&G aims to “source $100 million from women-owned businesses across the developing world”