The Business of Supplier Diversity - volume 1

Supplier Diversity has its roots in the sense that it was the "right thing" to do.  It was equal opportunity for suppliers and often set aside programs where there was specific money for these supplier.  Even today when someone firsts learns of a Supplier Diversity program they often go right to those thoughts. In reality, Supplier Diversity has become much more than just the "right thing" to do and it is far from a set aside program.  Supplier Diversity, when done correctly is a strategic business initiative. Every business has to find their own business case but the business case is there.  It should be a way that companies drive innovation, cost containment, market share, and brand.  If programs cannot connect their return to the companies bottom line they will always be at risk to be reduced or eliminated.  Furthermore if you have a person leading the program that does not believe in the business importance of supplier diversity as an empirical business value it will be an up hill journey.  I have worked for corporations leading supplier diversity for the better part of 20 years. I am not an expert on all aspects but I have a few things to share and I hope they will be helpful to someone else.  More to come in the coming weeks. If there is something specific you are interested leave a comment.  Thanks for reading.