Supplier Diversity Yields Meaningful Benefits

An Extensive Supplier Diversity Strategy

Since the inception of our supplier diversity program in 2013, Trane Technologies has purchased over $3.4 billion in goods and services from diverse-owned businesses. This includes businesses that are owned by women, members of the LGBTQ community, veterans, and people with disabilities. Our investment grows each year through a thorough procurement process designed to pre-qualify diverse-owned businesses in order to maintain a robust pipeline.

In 2021, we added 71 new diverse-owned suppliers and purchased $435 million in goods and services from diverse-owned businesses. Year-over-year, we increased dollars spent with diverse-owned businesses by more than 14% and with women-owned businesses by more than 15%. Our program also scored a 4.25 out of 5 for the second year in a row, based on the National Minority Supplier Development Council’s eight best practices.

Increasing our diverse supplier spend is an essential part of our strategy, but to truly make significant advancements, we’re committed to building the capacity of our suppliers through significant development and mentorship. In partnership with the TriState Minority Supplier Development Council (TSMSDC), we offer an 18-month Center of Excellence program for diverse suppliers. The suppliers are provided with virtual training to help strengthen and enhance their business capabilities. We also provide them with a Trane Technologies mentor for continued growth and development, as well as a registration portal to drive improved matches between supplier capabilities and upcoming opportunities.  

This process can yield exceptional results, as evidenced by Atlas Management Corporation, a staffing agency and Minority Business Enterprise. After being identified as a potential partner for Trane Technologies, they went through two years of development, participating in TSMSDC’s Center of Excellence program, and receiving mentorship from our experienced team. In September of 2020, we invited Atlas to submit an RFP for staffing services. After a successful submission, Atlas was offered a contract in Memphis, TN. Since then, they’ve expanded to additional locations and we continue to foster their growth through further mentorship and development. 

We’re always looking for ways to deepen our impact on supplier diversity. We are actively engaged with the Minorities in Manufacturing program at the Minority Business Development Center in Atlanta. Our team members sit on the Board of Directors of over a dozen organizations that provide scholarships and programming for diverse-owned businesses. We were also an integral partner in the 2021 What’s Your Pitch? Innovations Competition hosted by the U.S. Pan Asian American Chamber of Commerce (USPAACC), Southeast Chapter, during which diverse entrepreneurs pitched their business ideas to a panel of investors, gaining visibility and funds to help them grow. 

A Marketplace Leader in Supplier Diversity

Our work advancing supplier diversity has put us at the forefront of the field. We’re proud to have been named 2022 Corporation of the Year by both the USPAACC and the TSMSDC, who celebrated our extraordinary contributions in developing and expanding minority business opportunities. Many of our employees have been recognized as well. Four of our category managers were named “Corporate Buyers of the Year” by MBNUSA Magazine for their supplier diversity mentorship and strategy work. Keekee Mathis, Senior Leader, Supplier Sustainability & Diversity, was named TSMSDC Corporate Representative of the Year for her leadership in expanding our minority supplier diversity program and was recognized as one of Diversity Plus Magazine’s top 25 women impacting diversity.  

“We’re challenging our industry to advance diversity and inclusion by supporting the growth of diverse suppliers,” explains Mathis. “We want to encourage one another to prioritize this work, because we know that when our suppliers succeed, it creates a ripple effect in their local communities.”

Supporting diversity and inclusion is part of everything we do – from the talent we hire to the suppliers we work with. Recognizing the value of diversity in our supply chain uplifts our people, benefits our planet and increases customer satisfaction. Over the next decade, our supplier diversity program will grow in spend and offerings in order to consistently drive growth and innovation for diverse-owned businesses, their communities and our customers.