Customers 2013 Activities


• We continued to work with certified diverse suppliers and proactively searched for potential new contacts. Last year 13 new diverse suppliers were invited to participate in sourcing initiatives. Of the initiatives that have been concluded, eight suppliers were successful in being awarded meaningful new business.


• TD contributed to the development of diversity suppliers by providing:


• Mentoring and networking opportunities to help them gain insights, share ideas, develop their business capabilities and build relationships with TD and other companies; and


• Educational workshops and webinars on topics such as responsible procurement and how to do business with TD.


• TD’s supplier diversity leader was appointed to the board of a Canadian certifying organization.


• TD brought together representatives from four U.S. organizations for an information session about the certification process. The event was attended by a cross-section of diverse business owners who were considering certification.


Issue in Focus: Responsible Procurement


Caroline Booth joined TD in 2010 to lead the bank’s global supply chain strategy and management. She is also the author of the bestselling business book Strategic Procurement: Organizing suppliers and supply chains for competitive advantage. We asked Caroline for her thoughts on responsible procurement.


Q: Why is responsible procurement important to TD?


A: TD spends more than $5 billion annually on goods and services to run our operations and support our customer services. As we work to continually improve and embed responsible practices throughout this company, to not extend that effort to our supply chain would miss a key piece of the puzzle. Corporate responsibility is important to TD, and it needs to be important to our suppliers as well. It just makes good common sense and is an extension of everything we are trying to do as employees.


Q: Why does supplier diversity matter?


A: It’s a reflection of the values that we embrace. Some of our customers are business owners who could also become TD suppliers. By committing to supplier diversity, we are investing in our communities and strengthening our relationships.


Q: Is it getting harder to procure responsibly?


A: The supply chain is not a chain anymore. It’s a geographically spread complex web, and we need to have a proper understand- ing of both the value and the risks we have created around us. Responsible procurement is an important tool in managing that complexity and is always evolving – as, too, is our understanding of social and environmental impacts.


Workplace


Environment


Communities


How We Operate


101


Q: What surprised you about implementing this new policy?


A: I expected more reluctance from suppliers because of our increased demand for information. But, in fact, it’s been quite the opposite. Every supplier who received the questionnaire not only completed it but often benefitted. Where we identified gaps, suppliers wanted to close those gaps and recognized the value in doing so.


Q: What lies ahead?


A: We will continue working to embed responsible procurement practices through our business. A robust assessment is now in place during the supplier selection process, and we need to build similar assessments into the process during the life of a contract. This work will continue in 2014.


TD 2013 Corporate Responsibility Report


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