Supplier Diversification
Supplier diversification is a business practice that involves sourcing products and services from various suppliers with diverse backgrounds. Supplier diversification is not just a social responsibility initiative but a way for companies to enhance their competitiveness and improve their bottom line.
Initiating a Supplier Diversity Program
If you are just getting started with a Supplier Diversity program we are here to help. From defining the program's goals and objectives, developing a plan of action, change management, creating a timeline, establishing metrics, identifying potential risks or to identifying challenges that may arise during the program's implementation. Allow us the opportunity to assist you with some or all of these.
Enhancing a Supplier Diversity Program
If your diversity program is stagnant or not reaching the expected goals, we can take a strategic, data-driven approach to increase supplier diversity by helping your company set clear goals, develop targeted programs, and monitor progress to ensure success.
Raising the bar to a "Best in Class" Supplier Diversity Program
A best in class supplier diversity program sets clear and measurable goals that are aligned with the company's overall strategic objectives and are regularly monitored and reported on. A best in class supplier diversity program provides support to diverse suppliers in a variety of ways, such as offering mentorship and coaching programs, providing access to capital or other resources, and ensuring fair and timely payment terms.