You don’t have time to read multiple pages to understand a topic. Find a series of 1-Minute Readings on the topic of Supplier Diversity & Inclusion here.
HOW ARE TIER 2 EFFORTS HELPING YOU TO ENHANCE YOUR BUSINESS?
SUPPORTING ESG TARGETS: Tier 2 supplier diversity efforts can help companies create a more equitable economy, strengthen operational resilience, and promote diversity, equity, and inclusion (DEI) efforts within businesses and throughout the supply chain
DRIVES COMPETITION: by encouraging Tier 1 suppliers to embrace supplier diversity, companies can create a more competitive marketplace, which can lead to better pricing and quality
INCREASED IMPACT: by encouraging Tier 1 suppliers to use diverse vendors, diverse suppliers can build capacity or deliver specialized goods and services, especially when they are unable to win contracts directly
INCREASED INNOVATION: working with diverse suppliers can help you gain access to new ideas and perspectives that can lead to more innovation and creative problem solving
LACK OF ESTABLISHED PROTOCOL: there is no established protocol for handling Tier 2 supplier diversity reporting, nevertheless….
DATA TRANSPARENCY: implement a control system for the reported Tier 2 diverse spend
HOW TO START? ASK YOURSELF FOLLOWING QUESTIONS:
Which TIER 1 SUPPLIERS should we TARGET?
Do we have a TIER 2 REPORTING SYSTEM?
Do we want to put CONTRACTUAL REQUIREMENTS in place?
What is it that we want to achieve?
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