Diverse suppliers can be a cornerstone of any organization’s success, helping companies to ethically and efficiently source products and services while maintaining profits, growing customers, improving the economy and encouraging innovation.
Do you track diverse vendor spend, including MWBE and Black-owned vendor spend, and have you set goals around MWBE and Black-owned vendor spend for your company this year?
IF NO: Please use the following resources in this section to address this need.
How to get started:
- 4 Essentials for Successful Supplier Diversity Management
- How Marriott International and Wells Fargo Worked to Find and Foster Growth in Diverse Suppliers
- Multi-Tier Diverse Spend Tracking and Why it is Important
- Supplier Diversity Tracking, Metrics and Reporting
- What is Supplier Diversity?
Resources for supplier diversity goals:
- How to Increase Supplier Diversity Spend
- How to Set Smart Goals Based on Industry Standards
- Key Metrics to Assess the Success of Your Supplier Diversity Program
Management platforms that can help your business:
- Coupa (Supplier Management Platform)
- Simfoni (Spend Analytics and Spend Automation Products)
- SupplierGATEWAY Tier-1 Diversity Tracking (Cloud-Based Supplier Management Platform)
National organizations that can assist with the identification of small and minority suppliers:
- Asian Pacific American Chamber of Commerce (APAAC)
- National Association of Women Business Owners (NAWBO)
- National LGBT Chamber of Commerce (NGLCC)
- National Minority Supplier Development Council (NMSDC)
- National Women Business Owners Corporation (NWBOC)
- Native American Chamber of Commerce (NACC)
- United States Hispanic Chamber of Commerce (USHCC)
- U.S. Business Leadership Network (USBLN, for Disabled-Owned Small Businesses)
- Vets First Verification Program (for Veteran-Owned Small Businesses)
- Women’s Business Enterprise National Council (WBENC)
Local organizations that can assist with the identification of small and minority suppliers:
- Evansville Regional Economic Partnership
- Indiana XBE Search
IF YES: Great, you are focusing on the areas needed to ensure your company is tracking diverse spend. Here are some great articles on how other companies are championing transparency in their organizations: