Supplier Diversity Study
Diversity. We hear the word regularly in all aspects of our lives, a word that espouses inclusiveness of all - socially, economically and professionally. Given this growing prevalence, it’s no surprise that companies and governmental organizations are constantly seeking new ways to demonstrate their commitment to diversity. In the past few years, more and more corporations and organizations have focused on increasing the diversity of suppliers they use, many even choosing to create special diversity programs within their companies. The mission of diverse supplier programs is to balance the suppliers a company does business with to include more minority, women and veteran-owned organizations. And while some companies have been focused on expanding diversity in all aspects of their operations for a decade or more, others have been drawn to establishing diverse supplier programs in response to cultural shifts and expectations. In fact, many companies, regardless of size or industry, have found a dedicated focus on diversifying their suppliers resonates positively with both employees and customers. And, for those companies that set goals and actively track the results for their programs, the news is good; the majority report that their programs are performing at or beyond expectations. However, many companies still struggle with finding diverse suppliers that can meet their needs.
We commissioned a study in response to the increasing trend of companies implementing supplier diversity programs. Our goal for this study was to report on supplier diversity trends and best practices to support both those tasked with managing these programs and the diverse suppliers who make these programs possible.
Here’s what mobility and relocation decision makers can expect to learn:
- How to manage, source and evaluate suppliers
- Whether industry or company size is indicative of implementing a diverse supplier program
- Reasons for establishing program
- How to measure ROI
- Where to find diverse suppliers; which industries offer the best opportunity for growing a diversity supplier program
- Opportunities for diverse suppliers and how to take advantage of them
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