Supplier Diversity is a 2-Way Effort

In a variety of industries, supplier diversity and inclusive sourcing goals are set, and those goals are missed because there are not enough certified suppliers to meet the demand. There are those companies that would like to buy more from diverse-owned companies, but there are also the diverse-owned companies that need to be visible.

Supplier diversity certification is an opportunity for businesses to grow their customer base, increase sales opportunities and establish new markets and suppliers. In this era of supply chain interruption and workforce challenges, developing relationships with more suppliers is good business. If you have a product or service to sell, becoming a certified diverse supplier can open the door to new markets and provide you with a source of new opportunities.

A diverse-owned business is a business majority (>50%) owned, controlled & managed by one or more individual from an underrepresented group mostly defined as women, ethnic minorities, LGBTIQ+ or people with a disability. Read more

Companies certified as diverse-owned businesses have increased opportunities to sell their products and services not only to governmental buyers, but also to corporations seeking the economic benefits and social responsibility that working with certified diverse suppliers provides. If certification as a women owned business through WEConnect International, as an ethnic minority owned business through MSDUK (Minority Supplier Development UK) or soon to come ESDP (European Supplier Diversity Project), or a LGBTIQ+ owned business through EGLCC is within your reach, pursuing certification can position you to benefit from these opportunities.

Check out upcoming events around Supplier Diversity / Inclusive Sourcing on the events page.

The whole related article: https://www.supplychainbrain.com/blogs/1-think-tank/post/34945-supplier-diversity-certification-more-art-than-science

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