In the context of the immense supply chain issues that have been ubiquitous during the pandemic, the benefits of supplier diversity have been highly publicized over recent months. If you aren’t familiar with this commentary, we recommend reading The Business Case for Global Supplier & Diversity.
But, there’s little guidance as to how to find and source diverse suppliers. In this Weekly Brief, we’ll outline some valuable resources for sourcing diverse suppliers for your supply chain.
3 Quick Tips for Increasing Supplier Diversity
- Create space in your budget for a diverse supplier manager or management team. You will need to manage networking, training, onboarding, and feedback. It’s best to allocate the appropriate resources to developing a diverse supply chain if you want to succeed.
- Metrics are key for assessing your company’s supplier diversity integration efforts. Embed a framework for monitoring expenditure with diverse suppliers from the outset.
- Identifying diverse suppliers won’t happen overnight. It’s an ongoing process that will require communication, feedback, and negotiation. Developing strong networks and collaborating with companies with established supplier diversity programs will be key to your success.
Resources for Building Your Diverse Supply Chain
These organizations can assist you to identify small and minority suppliers:
- NMSDC – National Minority Supplier Diversity Council
- USPAACC – US Pan Asian Chamber of Commerce
- USHCC – US Hispanic Chamber of Commerce
- NGLCC – National Gay & Lesbian Chamber of Commerce
- NaVOBA – National Veteran Owned Business Association
- USBLN – U.S. Business Leadership Network (DisabilityIN).
The Women’s Business Enterprise National Council (WBENC) is another resource that’s close to our heart. The WBENC helps companies and consumers buy from women-owned businesses. We are proud to announce we have passed the certification process and are now a certified women-owned business.
For help with your supply chain contracts, reach out. We’re here to help!
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