Supply Chain
Our purchasing spend with diverse businesses was $1.3 billion in calendar year 2021.
As part of our commitment to supply chain sustainability management, we require all ingredient suppliers to have third-party food safety audits. In addition, in 2021 we conducted eight food safety supplemental audits. If suppliers are found to be noncompliant, appropriate action is taken — up to and including termination.
Hormel Foods values the long-standing relationships we have established with our suppliers. In fact, in calendar year 2021 only 3% of our purchases were from new suppliers.
Supplier Diversity Program
We aim to continue to increase our purchasing spend annually with small and diverse businesses. In addition to ensuring our suppliers comply with the food safety standards recognized by the Global Food Safety Initiative (GFSI), we make a concerted effort to give diverse companies, such as small, women-owned, minority-owned and veteran-owned businesses, the opportunity to supply quality products that meet our company’s growing business needs. In calendar year 2021, our purchasing spend with small and diverse businesses was $1.3 billion. This amount includes independent family-owned hog farms.
For additional information about our supply chain, please visit our corporate website.