DTE Energy was recently selected from among hundreds of other businesses with revenue between $11 billion and $50 billion as 2021 Corporation of the Year by the National Minority Supplier Development Council (NMSDC).
The company has a long history of supporting diverse businesses. While DTE’s reputation for excellence and accomplishments are well known throughout Michigan, they’re now achieving success on a national level.
“This award recognizes exemplary achievement in the area of minority supplier development and is regarded as the most significant honor to a major corporation for the use of Asian, Black, Hispanic and Native American companies,” said NMSDC CEO and President Ying McGuire. “DTE demonstrates exceptional strength in all areas critical to maintaining a solid minority supplier development process.”
According to DTE President and Chief Executive Officer Jerry Norcia, the award is a natural extension of the company’s commitment to building strong communities.
“Our focus on supplier mentoring and outreach is bringing jobs back to our neighborhoods and expanding local economies,” he said. “We’re proud to support minority-owned businesses, and it’s an honor to be recognized for our efforts.”
DTE’s Supply Chain team uses an innovative combination of outreach, advocacy, and training to seek out minority-owned businesses and help them grow.
“We specialize in connecting small and mid-sized companies with new opportunities at DTE or with one of our larger suppliers,” said Corporate Services Vice President Jaspreet Singh, who leads the Supply Chain organization.
This approach is working. Last year alone, DTE spent $744 million with diverse suppliers, which is nearly 25 percent of its external spend. DTE increased spending with diverse suppliers nearly 300 percent since 2010 and is targeting $1 billion in annual spending with diverse suppliers by 2026.
“We’re constantly working to increase partnerships with minority suppliers because we’ve seen how it benefits everyone involved,” Singh said.
For minority businesses, DTE’s focus on outreach, mentoring, advocacy, and training means new opportunities to succeed and grow. For communities, local business growth creates jobs and thriving neighborhoods. For DTE, an inclusive supply base brings innovative ideas that add value and help deliver exceptional service for customers.
Singh credits the entire Supply Chain team with helping DTE earn this recognition and says they continue to find inspiration in helping minority businesses succeed.
“This recognition encourages us to continue creating economic empowerment by cultivating new opportunities for minority suppliers,” he said. “We’re deeply grateful to the NMSDC for this award, and we remain committed to continuing this transformative work.”