Supplier Diversity Program
IHS Markit cultivates business partners of all sizes. In fact, for any purchasing activity, buyers are encouraged to seek out qualified businesses, including small and diverse businesses, that can perform services or provide materials in accordance with IHS Markit standards. Our program aims to promote a healthy social and economic environment for both the company and our diverse business partners.
The criteria that determines which companies may be included in our Supplier Diversity Program were established in accordance with Public Law 95-507 related to Federal Acquisition Regulations. LGBTQ business enterprises, not included under any current US federal requirement or laws, are also included in our program.
The criteria that determines which companies may be included in the our Supplier Diversity Program were established in accordance with Public Law 95-507 related to Federal Acquisition Regulations.
How your company can be a value add to IHS Markit
Our company takes the supplier-selection process very seriously. IHS Markit exercises great care in selecting suppliers who can meet our sourcing objectives and uphold our ideals. Every supplier needs to attest to our Vendor Code of Conduct which describes the conduct we expect from our supply chain partners.
Sourcing decisions are based primarily on defined and objective evaluation such as cost, timeliness, quality, technical suitability, service, reputation of the supplier and performance history. Requests for proposal (RFP) will assist in determining whether the suppliers' products and services and technical and business functions are suitable to meet our business needs. A vendor’s small and diverse status is also factored into the RFP process.
Primary criteria for supplier selection
Because our company is committed to providing our customers with the highest-quality products and services, we require our suppliers to maintain and uphold these same high standards. At IHS Markit, supplier performance is a key factor in maintaining our reputation for excellence and customer satisfaction. Therefore, suppliers must be able to offer:
Provide leading-edge technology. We expect our suppliers to continuously achieve technological advancement in their respective fields
Compliance with our customers requirements. IHS Markit expects high-quality, reliable, defect-free materials developed through superior design, process control and continuous process improvements.
Adjusting and adapting to meet our customers' changing requirements. We expect our suppliers to be responsive to these needs, as well as maintain global requirements and flexible capabilities.
Meeting exact product quantity and schedule requirements. IHS Markit expects 100 percent on-time delivery
Pricing that contains reasonable profit margins with a minimum total cost. Our company expects its suppliers to identify and eliminate non-productive costs and expensive operations.