Southern Maryland Electric Cooperative, Inc. (SMECO) encourages and requires ALL current and potential suppliers to register in our supplier portal. Our portal captures reporting and provides opportunities to all suppliers, not just diverse suppliers.
SMECO does have a supplier diversity program to bridge the gap for minority, women, and service disabled veteran owned businesses looking to do business with the public sector. The goal of SMECO’s Supplier Diversity Program is to provide increased opportunity for targeted sectors to participate in the procurement process of goods and services used by SMECO to serve its customers. This is an integral part of the Cooperative Business Model, where the business is owned by the customers it serves.
The Supplier Diversity Program has two components:
1. U.S. Government recognized Small Business Concerns
2. Maryland Public Service Commission recognized Diverse Suppliers.
Diverse Suppliers may be large businesses and are simply defined:
•Service Related Disabled Veteran-owned business, and
•Not-for-profit entities organized to promote the interests of physically or mentally disabled individuals.
Additional requirements are that the company is owned and operated by one or more U.S. citizens meeting the above criteria and have not less than 51% in ownership or shares of stock.
SMECO is required to report certain information:
1. Diverse Supplier ownership demographics;
2. American Indian/Native American
c. Service Disabled-Owned
d. Eligible Non-Profit (as defined above)
2. Total Annual Spend to Diverse Suppliers without relating and Spend to specific Diverse Suppliers;
3. List of Diverse Suppliers; and 4. Spend by NAICS Code