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Learn moreBuilding strong relationships is the cornerstone of our success. At JPMorgan Chase, we place particular value in our supplier partnerships. Thanks to the help of a diverse range of suppliers and advisors, we are able to serve our clients, shareholders, communities and employees more efficiently.
JPMorganChase seeks to amplify the positive impact of doing business with small and diverse businesses by encouraging our suppliers to also create a more inclusive supply chain by engaging with small and diverse businesses.
Our firm desires to understand our Tier 2 spend with certified diverse businesses. “Tier 2” spend is the dollars spent by our supplier. We invite our suppliers to provide us with their Tier 2 spend information for certified small and diverse businesses to help inform JPMorgan Chase’s total amount spent with certified small and diverse. Reporting your Tier 2 spend is voluntary and will not impact any decision-making processes related to contracts with JPMC. Our aim is to work collaboratively with our suppliers to advance values of equal opportunity and access.
Tier 2 spend dollars can be measured in two ways: Direct and Indirect. Both types of spend may be reported to JPMorganChase.
Supplier engagement with certified small and diverse businesses directly on JP MorganChase contracts qualifies as Direct Spend. Each Tier 2 dollar can be traced back to a specific certified small and diverse supplier and to a specific project.
Indirect Spend is calculated by prorating the supplier's company-wide spend with certified small and diverse businesses with the percentage of its total business represented by JPMorganChase’s business. (For example, if the supplier spends $100 million annually with certified small and diverse suppliers and JPMorganChase represents 1% of its total business, the 2nd tier spend would be $1 million [$100 million x 1%].)
We have a dedicated reporting system that we invite our suppliers to use to report their certified small and diverse business spend on a quarterly basis. There is a 45-day submission period for each report. For example, the first quarter’s report includes spend from January–March. The reporting period for Q1 is April 1st–May 15th.
If you would like to report Tier 2 spend, to access the JPMorganChase Tier 2 Reporting portal please click here.
