In 2012, an OEM customer in the transportation industry strongly urged HST to begin the certification process for woman-owned business status. The company had a robust diverse supplier program and was identifying current suppliers who might be eligible for inclusion. At the time, HST was already supplying more than 16 million die-cut rubber and tape parts for the company’s line of products. To secure a more valued spot in the customer’s procurement chain, HST began the rigorous and stringent certification process to confirm that HST Materials, Inc. is 100% owned, managed and controlled by me.
The idea to seek certification had come up years earlier. But HST’s customer base was primarily private industry and our business plan did not include targeting Federal or State government contracts. Over the years, as HST has grown and expanded its capabilities and customer base, we realized that many of our new OEM customers were doing business with the government and needed to prove that their suppliers were diverse suppliers. Now was the time to seek certification!
Supplier Diversity emphasizes the creation of a supply chain that ensures the inclusion of diverse groups, such as women, minorities and veterans, in the procurement plans for government, not-for-profits, and private industry. It’s a business strategy that offers inclusivity in the procurement process.
In an Industry Week article titled “The Business Case for Supply Chain Diversity” by Jonathan Katz, “Manufacturers that have implemented supplier diversity programs say the payoff has come in the form of stronger relationships with their supply base, new business opportunities and a more agile supply chain.” Read the full article here.
In 2014, HST Materials, Inc. was certified as a Woman Owned Business (WOB) by the Women’s Business Enterprise National Council (WBENC), one of the most widely recognized and respected certifications in the nation. HST sought certification through the Women’s Business Development Center (WBDC) of Chicago, a Regional Partner Organization (RPO) authorized to administer WBENC’s world-class certification. WBENC has 14 RPOs across the United States to help businesses owned by women achieve certification. More information can be found at www.wbenc.org.
Our transportation OEM has increased business with HST from 16 million parts per year in 2012 to a projected 200 million parts per year in 2016. Our WBENC certification has made us a valuable partner with OEMs in the automotive, lighting and container industries to name a few. Our certification as a diverse supplier has greatly contributed to the growth of the business and given us a leg up on the competition! If your business qualifies as a diverse business, certification could be a profitable goal for you.
HST Materials, Inc.
See HST Materials, Inc.’s WBENC certification below: