How Inclusive Sourcing / Supplier Diversity can help with your ESG Agenda

In light of recent supply chain issues, companies need to improve supply chain resilience, create more business opportunities and achieve Environmental, Social and Corporate Governance (ESG) goals.

Did you know that Supplier Diversity / Inclusive Sourcing is supporting a companies’ efforts in ESG in many ways ?

With an Inclusive Sourcing / Supplier Diversity program you not only cover many of the Social themes, but also Governance themes like code of ethics or more diversity in the board.

But how does Supplier Diversity / Inclusive Sourcing support your Environmental goals? Diverse businesses are typically SME’s that often offer innovative solutions to problems, but are usually overlooked in tenders due to geographic scope or other reasons. Working with local suppliers – another way to promote Supplier Diversity – has the advantage of reducing a company’s carbon footprint while contributing to local communities.

Contact fips consulting so we can help your company achieve your ESG goals through a more inclusive supply chain.

Check out this great webinar from WEConnect International about ”The UN Sustainable Development Goals and The Business Case for Global Inclusive Sourcing from Women-owned Businesses”

Or find more insights in this article from Workiva about ”Chain reaction: why supplier diversity matters” including this statement from Mandi McReynolds, senior director of ESG at software company Workiva; “Procurement teams play a critical role in creating equity across supply chains and in achieving companies’ ESG goals”.