Forbes Magazine – August 2021 – From Rod Robinson Forbes Councils Member, Senior Vice President at Insight Sourcing Group leading the Supplier Diversity & Responsible Sourcing Consulting Practice.
”…………During my tenure as chief procurement officer (CPO) of a billion-dollar telecommunications company, we were always searching for new, unique diverse suppliers that would enable us to enhance our offerings and provide healthy competition for incumbent suppliers.
I learned that casting a wider net enabled us to build a supplier portfolio that included a broader range of supplier segments. This ultimately allowed us to increase spend with diverse suppliers, drive higher procurement cost savings and optimize overall supply chain value. …… ”
There are many other reasons, why a diverse supplier base is key to an innovative, responsible procurement organization.