Why Supplier Diversity is Important
Supplier Diversity Matters
What Is a Diverse Supplier?
- A diverse supplier defined as a business that is more than 51% owned or controlled by an individual or group underrepresented or marginalized. Suppliers from diverse backgrounds foster innovation and increased competition and transparency, and also raise the potential for cost savings as well as improved brand perceptions.
How To Do Your Part
There are undeniable social and economic benefits for public and private organizations that engage with suppliers from traditionally under-represented and marginalized groups. Supplier diversity practices are not limited to large multinational organizations, supporting your local and small diverse businesses benefits you and drives the increased capabilities of the small businesses in your area! Are you ready make a difference?