What Is Supplier Diversity?
Diversity is:
- is a social procurement program
- with historical roots in the US Civil Rights movement,
- now spreading internationally,
- in response to the needs and desires of consumers, customers, investors, and other stakeholders in local communities,
- supported by organizations who purchase,
- to actively develop and grow inclusive supply chains, and
- promote equitable access to LGBT, aboriginal, women, veteran and other visible minority-owned and operated businesses.
Supplier Diversity - Key Indicators of Success
- “Culturally-transformative” business program tied to your :
- Diversity and Inclusion mandate
- Corporate Social Responsibility program
- Business case, tightly-coupled with company strategic imperatives
- Close connections to your external ecosystem of diverse suppliers & MBE-certifying associations
- Well-worded, published & endorsed Supplier Diversity Policy
- Supplier diversity vision and strategic roadmap in place, and bringing it to life
- Active, visible & respected executive-level sponsorship
- Continuous, ongoing outreach & engagement of diverse suppliers
- Procurement practices modified specifically to accommodate diverse suppliers
- Dedicated Supplier Diversity staff and engaged employees, supporting the program across the organization
- Measurement and rewards, supporting everyday supplier diversity program successes
- Regular & transparent communications regarding your supplier diversity program status & plans