'Supplier diversity' (also known as 'inclusive procurement') is considered to be the proactive activity undertaken by contracting authorities to ensure that all relevant, potential suppliers have the fair and equal opportunity to complete for business within their supply chains. Make recruitment and inclusion of these suppliers a priority, including the development and implementation of documentation for potential suppliers such as the. To increase sustainability (stronger supply chain) 3. It should be updated regularly to reflect your changing goals and maturing supplier diversity program. The answer is probably some or all of these common reasons: To find the best suppliers (competitive advantage + customer satisfaction), To increase sustainability (stronger supply chain), To promote diversity (innovation + social responsibility), To support the local community (economic impact + reflection of customer demographics). Partner with those who provide access to new markets or innovative ideas for new goods and services. Now go forth and craft your supplier diversity policy! Assemble a Diverse and Profitable Supply Chain Powered By PurchaseControl, by Keith Murphy | Sep 3, 2019 | Procurement, Stay up-to-date with news sent straight to your inbox, Sign up with your email to receive updates from our blog. Decide which categories you intend to count and track, and clearly list them in your supplier diversity policy. Developing targets both strengthens commitments and helps assess progress, providing accountability and recognition throughout the organization. I am also VP and Chief Diversity Officer at Hewlett-Packard Enterprise. It should be noted that the Billion Dollar Roundtable—the gold standard for supplier diversity recognition—now includes LGBT-, veteran-, and disability-owned spend in their metrics. Companies that have embraced diverse suppliers identify a number of advantages including a dedicated and more responsive customer service, and innovation in products and services and cost savings. Why has the company embarked on this initiative at this time?
Without top-level support it can be very difficult to convey a call to action down through the company. Leverage social media intelligently to connect with new potential customers, diversity organisations, and diverse suppliers.
Supplier Portals, A Quick Guide To Building a Supplier Diversity Policy, Supplier Diversity Economic Impact Analysis, Why are you investing in supplier diversity. In business, as in life, stagnation and homogeneity can lead to decline in productivity, a lack of innovation, and, ultimately, the demise of the stagnating group. Be upfront about what types of certification you will accept. It's difficult—and inefficient—to work toward goals if you haven't clearly stated what those goals are.
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