Supplier Diversity
RE-IMAGINE SUPPLIER DIVERSITY
Supplier Diversity is a cornerstone of corporate social responsibility (CSR). It assists organizations in ethically and efficiently sourcing products and services from diverse businesses, while maintaining profits, growing customers, improving the economy and encouraging innovation.
Growing Profits and Economic Impact
An increasingly diverse global population means that not only are diverse audiences becoming a larger target for companies, but diverse-run businesses comprise a larger portion of the small business sector.
Staying Competitive in Changing Demographics
Organizations with a focus on doing business with diverse business owners can gain a competitive edge by increasing the economic standing and buying power of diverse consumers while developing a new target audience.
Driving Innovation
Diverse suppliers provide unique opportunities to produce new products and solutions to overcome competition. Typically, their smaller size can provide the advantage of being able to adapt more quickly to market changes and business fluctuations.
"Businesses owned by diverse suppliers help contribute to the overall economic growth and well-being of the communities in which we live and work.”
Denis Ford, Cummins Inc.
iSuccess Supplier Diversity Framework
iSuccess helps organizations develop a world-class Supplier Diversity program by implementing inclusive procurement practices that ensure suppliers reflect the organizations customer-base. We utilize our 10-Step Supplier Diversity Framework to ensure supply chain diversity.
