We at ITT recognize the need to grow and maintain a resilient, diverse, and sustainable supply chain. Our supplier base is critical to our business, and we have initiated a Supplier Diversity Program which we are driving to be a natural extension of how we conduct business at ITT.
Working to embed the program in all procurement activities, in our first phase of the program, we have fully assessed our operations. We are now working to optimize our diverse supplier base. Our goal is to actively seek to promote competition in the supply base by providing opportunities for suppliers that are majority-owned and operated by minorities like veterans, people with disabilities, people of color and women owned businesses. We see our Supplier Diversity Program as our opportunity to improve product quality, reduce costs and create a more agile, resilient supply chain.