Honda North America (HNA) was recognized as an honoree for the 2016 Corporate 101: Most Admired Companies by MBN USA (Minority Business News) magazine for its 2015 supplier diversity event.

HNA’s Purchasing Procurement Diversity group began the Honda Partnership Network (HPN) Business Opportunity Fair last year as a way to facilitate introductions and bring Honda’s Tier 1 suppliers together with Women and Minority Business Enterprises (WMBEs) eager to accomplish common goals. This year’s event takes place on Oct. 18.

HNA will be recognized in the Corporate 101 list, which will be published in the 2016 MBN USA Volume III edition. It will premiere at the United States Hispanic Chamber of Commerce National Convention in Miami, Fla., in October.
Participation in the HPN annual summit is limited – and by invitation only – in order to assist in the relationship-building between suppliers. Those invited are given the opportunity to develop relationships with the companies most suited to help them meet their business objectives.

“At Honda, it’s just what we do. It happens organically,” said Daryl Watson, manager, HNA Procurement Diversity. “We’re looking for the best supplier that has the best capabilities and the best capacity that we can find to match our goal.”

Feedback from last year’s event was overwhelmingly positive. So far, roughly 70 percent of Honda’s Tier 1 suppliers reporting having ongoing discussions with the diverse companies who attended last year’s event.

“We conducted a survey to determine the needs of our suppliers and with this information, we’ve been able to provide a tool to enable our Tier 1 suppliers to meet their needs and help achieve their goals of expanding the diverse nature of their own supply bases,” said Watson.

In 2014, HNA spent $2 billion with WMBEs. This year, its goal is to spend $3 billion by the first quarter of 2017.