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Can Supplier Diversity Tier 2 Efforts Be Impactful? – fips consulting 1-Minute Readings
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?
WHAT DOES fips consulting DO?
fips consulting’s core competencies
If you want to make your supply chain more inclusive; contact@fipsconsulting.com
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