Diversity and Minority Spend

Supplier Diversity Program Advisory & Implementation Services

Source One’s Supplier Diversity Experts bring decades of experience designing, standing up, and continuously improving Diversity Spend Programs?across a variety of industries.

Having a formal supplier diversity program is a key characteristics of industry leaders. 92% of the Forbes?Top Companies have formal Supplier Diversity Programs for their Supply Chain, along with Inclusion and Diversity Programs for their human resources, workplace, and corporate citizenship endeavors.? But leaving aside industry-leading status, companies across the world are increasingly required to demonstrate supplier diversity, whether by industry custom or specific regulation. For these companies, negative financial & reputation implications can result from not having a viable supplier diversity program in place – such as?penalties from contractual obligations in terms of Tier 1 & Tier 2 Suppliers utilization and reporting, or even simply losing business opportunities. More and more,?Supplier Diversity is?a requirement of doing business in today’s world.

Source One’s team of supplier diversity consultants has developed award-winning supplier diversity programs from scratch, and been?recognized in the Supplier Diversity Community as leaders.? Our supplier diversity program solutions include:

• Defining supplier diversity: Whether you call it supplier diversity, minority spend, or historically underutilized, Source One can distinguish program definitions according to your company objectives and location.
• Training procurement to identify minority suppliers: Source One can guide your internal team to recognize and qualify minority suppliers within existing supply chain groups.
• Developing metrics: We can create the key performance indicators (KPIs) to gauge if you are reaching your minority spend targets.
• Cultivating diverse suppliers through Supplier Relationship Management: Source One can help you to support existing suppliers develop their own supplier diversity program, eliminating the need to source new vendors.

Effective Supplier Diversity?programs?go beyond?implementing tactical processes –?representing and furthering?key strategic objectives for your company’s mission and vision. Source One’s Diversity Spend Program Managers provide the?on-demand resources and expertise to support companies?in refining an existing program, or begin a new diversity spend program. We understand the complexities of diversity spend?across industries and regulatory environments, and can help you make the best decisions around governance, roles and responsibilities, process, and technology to unlock Diverse Supplier Value.

Contact Source One’s Diversity Spend Consultants?for help with your supplier diversity program needs.