E-book 3 Steps for a Successful Supplier Diversity Program
With supply chain and procurement teams in the spotlight more than ever, there has never been a better time to build a scalable and successful supplier diversity program.
This guide gives you the best practices we’ve discovered from our years building and maintaining programs in partnership with some of the most successful supplier diversity programs running today, including over 50% of the Fortune 100 and Billion Dollar Roundtable.
With these basic building blocks, you can implement and scale a program that can withstand hectic economic times, all while decreasing costs and increasing innovation.
The past few years have seen a major uptick in supplier diversity programs, especially net new programs. The Hackett Group reported that 90% of North American companies have a supplier diversity program, in their 2022 Supplier Diversity Study. In supplier.io’s 2022 State of Supplier Diversity report we found that 21% of programs are less than a year old while 34% have been around for ten years or more.
With supply chain and procurement teams in the spotlight more than ever, there has never been a better time to build a scalable and successful supplier diversity program. More companies than ever are starting supplier diversity programs not just because they represent the corporate culture and values of leadership, but because they are a savvy business practice that can:
- Reduce the risk of supply chain disruption
- Spearhead innovation
- Increase supply chain competitiveness
- Create cost savings
- Increase brand value and image
- Create real economic impact for underserved communities
