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:
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.
Stakeholder Engagement Expertise
Successful Supplier Diversity programs are endorsed from the top down, but built from the bottom up. If the top levels of an organization leadership does not support the creation of a Supplier Diversity program or provides resources necessary to help build and grow a program, it will not reach its potential ROI:
Our?Diversity spend team?has the expertise to help companies build the?framework required to establish world-class Supplier Diversity Programs, understanding?that supplier diversity programs require an intricate system that is flexible to different geographical segments, trends of the market, supplier minority qualifications, and?more. ?Additionally, we can help you refine your minority spend initiatives within an existing program, helping you strengthen supplier relationships and community bonds while increasing your savings.
Supplier Relationship Management Drives Supplier Value
A comprehensive SRM program can offset supply chain risk, enhance supplier services, support supplier diversity initiatives, maintain and improve upon the value acquired during original sourcing event, and even increase top-line revenue growth.
Learn more in our SRM Insights Report
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