ex·change n: a place where things or services are exchanged
op·por·tu·ni·ty n.: a good chance for advancement or progress
Opportunity Exchange n: a two day event where MBEs have the chance to do business with Toyota Tier I suppliers
That was what Toyota Motor Engineering & Manufacturing North America had in mind when we created ‘Opportunity Exchange’…a chance for MBEs to advance or progress their businesses. Opportunity Exchange, our own annual trade fair and conference was created 18 years ago with the intent being to build lasting business relationships between our Tier I suppliers and MBEs. Toyota’s Supplier Diversity section is proud to host the record-breaking event. Opportunity Exchange began in 1990, since then the event has grown from 100 participants and $350,000 in resulting Tier I MBE contracts to more than 1,800 participants and over $100 million in new contracts. Opportunity Exchange 2007 was held at the Duke Energy Center in Cincinnati, Ohio on November 13.
The participants were a mix of representatives from over 295 of Toyota’s
Tier I Suppliers and MBEs. At this event MBEs can explore possibilities and
network with key corporate decision makers. The MBEs in attendance come as
Toyota’s invited guests. They cover the spectrum from newly minted sole
proprietorships to sizable corporations. Toyota sends invitations to MBEs
across the country, representing the largest contingent of attendees. Tier I
Suppliers, those who supply goods and services directly to Toyota,
represented their individual companies with attendance from those with
purchasing responsibilities.
Attendees learned innovative business strategies during last years riveting
seminars. Customer expectations regarding Supplier Diversity are tied to
customer expectations of improved performance among suppliers. In the Tier I
seminars, current Tier I Suppliers shared the benefits of linking themselves
more closely with a diverse supply base, best practices for increasing the
diversity of ones supply base. MBEs learned about the world’s changing
business landscape and how those changes affect their businesses. The future
is rich with possibilities and pitfalls when it comes to competing in the
global marketplace. Building strength and capacity, therefore, are becoming
more important each day.
Mark your calendars
for the nineteenth annual Opportunity Exchange to be held on Monday November
10, 2008 and Tuesday, November 11, 2008 at the Duke Energy Center in
Cincinnati, OH. Don’t miss the opportunity. Also check back regularly for
updated information on the upcoming event including why you should
participate, how to register, where to stay and what the schedule of events
will include.