Supplier Diversity: The Other Side of the Diversity and Inclusion Coin

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What is supplier diversity and why is it important

Supplier diversity is a concept that encourages a proactive policy to use minority-owned, women-owned, veteran-owned, LGBT-owned, service-disabled veteran-owned, and historically underutilized businesses within the purchasing of supply chain products and services of the economy.

What supplier diversity is not

Unfortunately, supplier diversity initiatives are viewed by some as a government handout to people (ethnic minorities, women) that don’t deserve it and are looking for something for nothing.

A supplier diversity checklist to make it work

Neither diversity, equity, inclusion within the workplace, nor supplier diversity within the supply chain is rocket science. It’s simple but complex to deploy.

1. Make diversity a core value from the start

It’s no secret that corporate America has much influence when it comes to making things happen economically and politically.

2. Have the right tools and systems in place

Supplier diversity will not happen by itself. The first thing that should be done is to create a culture and environment that fosters diversity and inclusion. An environment of recognition and acceptance that differences are an advantage and not a disadvantage must be fostered, encouraged, and monitored to make it happen.

3. Make supplier diversity a part of performance and pay

Diversity and inclusion should have preset goals to meet and serious efforts made to reach them.

Conclusion

The ugliness of racism and its vile effects have a firm grip on America. The strongholds of this pandemic are within the workplaces of our country and a stranglehold on the supplier diversity supply chain. These are the two sides of the coin that must be addressed to ensure justice and fair play.

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Roy Landers

Roy Landers

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Business attorney, entrepreneur, content marketer, and published author. I help you communicate your marketing message and generate sales. www.roylanders.com