Lewis Bass International Engineering Services (LBIES), a member of SEMI since 2015, has been invited to join the official SEMI Manufacturing Ownership Diversity Group (SEMI MOD WG) that is hosted and managed in partnership with Intel and Applied Materials.
This formal SEMI-recognized group, formed in 2018, has the stated goal of on-boarding as many diverse suppliers providing services and physical products for use in the semiconductor industry as possible.
Many companies have set targets and required percentages of diverse suppliers in their corporate charters and this group is one way by which they can approach companies such as Lewis Bass, a certified woman owned business (WOSB), to meet these self-imposed quotas for diverse suppliers.
How does the SEMI MOD working group operate?
According to the group’s official website this working group has a few key focus areas:
Increase awareness of the benefits of having diverse ownership within the supply chain. Currently the MOD working group is developing a Supplier Diversity standard to distribute globally.
Increase the ability of diversely owned companies to compete on equal footing and win competitive bids with prime suppliers and end users
Increase the adoption of diverse suppliers with the semiconductor industry based on their performance.
What companies are currently involved in the group?
This image below represents the current mix of the type of fortune 500 companies currently involved in this group.
Why is supplier diversity important?
Supplier diversity programs recognize that sourcing products and services from previously under-used suppliers helps to sustain and progressively transform a company’s supply chain, thus quantitatively reflecting the demographics of the community in which it operates by recording transactions with diverse suppliers.*
Companies that choose to offer Supplier Diversity programs qualify for new opportunities that require diverse supply chains in addition to also aligning with common corporate values such as equality and awarding business to the best supplier. Companies interested in approach diverse suppliers should start their own manufacturing ownership diversity group.
According to the Harvard Business Review’s article, “Why you need a diverse supplier program”, there are clear commercial advantages to reap as well:
An inclusive procurement strategy widens the pool of potential suppliers and promotes competition in the supply base, which can improve product quality and drive down costs. And by providing more sourcing options, inclusiveness can make supply chains more resilient and agile — an increasingly important advantage in these uncertain times.
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