Day 2: Supplier Diversity
A focused effort on a Supplier Diversity program is an integral step in promoting inclusivity. Multiple assessments and research has shown that there are commercial and social benefits of effective supplier diversity programs in the communities for disadvantaged, small and diverse businesses. An inclusive procurement strategy widens the pool of potential suppliers and promotes competition in the supply chain, which can improve product quality and decrease costs.
There are many methods of outreach to diverse suppliers which include workshops, mentorship, and training programs. Inclusive procurement delivers societal benefits by generating economic opportunity for everyone.