Embedding Supplier Diversity

Essential strategies for embedding supplier diversity into your company’s DNA

  • CEO support for supplier diversity obtained
  • Supplier diversity goals incorporated into corporate strategy
  • Supplier diversity goals incorporated into Senior Executives’ annual KPIs then cascade down through the whole company
  • Senior Executive supplier diversity champions from procurement team and business units identified
  • All issues regarding internal buy-in and uptake of supplier diversity managed up
  • Supplier diversity objectives, purpose and benefits marketed and communicated through-out the whole company
  • Certified supplier development program established including second tier program
  • Performance against supplier diversity goals are measured (at the individual, division/business unit and company levels)
  • Supplier diversity performance reported to the board procurement processes are continually reviewed for inclusion and competition

Source: The above strategies have been distilled from the knowledge of long-standing corporate members of the National Minority Supplier Development Council in the USA.

The practical things that work

  1. Supplier diversity program
    Develop your company’s approach to supplier diversity and promote it on your company’s website. This also provides AIMSC certified Indigenous business Suppliers with easy access to your company
  2. Supply Nation events
    Invite Supply Nation certified suppliers to meet with you procurement team to discuss what it takes to do business with your company and attend Supply Nation for opportunities to meet with Supply Nation certified suppliers and learn from leaders in supplier diversity
  3. Supplier development programs
    Work with the procurement team and business units to actively support and mentor AIMSC certified suppliers. This can include assisting them with their approaches to marketing, sales, billing, business planning
  4. Second tier purchasing
    Engage your prime contractors/suppliers to sub contract to Supply Nation certified suppliers
  5. Strategic partnerships and alliances
    Explore opportunities to work with other members to establish strategic alliances and partnerships that support supplier diversity and development