At PSEG, our policy is to encourage the development and use of minority and women-owned businesses consistent with established corporate goals.
PSEG is committed to doing business with certified minority and certified women business owners to maintain a supplier diversity process that is fully integrated into our company culture. PSEG is committed to maintaining a supplier list that reflects our customer base and service territory that offers a wide range of perspectives and capabilities. This is a bottom-line business decision and a customer-driven component of our corporate strategy.
PSEG's Office of Supplier Diversity will measure, market, manage, and track all supplier diversity goals and initiatives. Tier II efforts enlist PSEG's prime suppliers to participate and create supplier diversity strategies and goals for the products and services they supply. By providing opportunities to diverse businesses at both the first and Tier II levels, PSEG expects to maintain a supplier base reflective of the communities we serve to achieve a competitive advantage.
Supplier Diversity is good business for PSEG, strengthens our customer base and supports the economic base of the communities we serve.
Our success depends on our ability to reduce costs, provide better service to our customers and develop new products and services. We recognize that diverse suppliers play a key role in helping us achieve these goals. Developing a value added diverse supplier base encourages job creation, enables purchasing power and builds shareholder equity.