Please check out our newest infographic, Big Spenders on Supplier Diversity. These are some of the companies that dedicate a high percentage, resulting in billions of dollars, to women and minority owned companies. Each year these companies are making it their mission to dedicate more of their budget to diverse suppliers and we are very appreciative of their efforts.
Bear in mind that total spend is only one indicator of supplier diversity success. It is important companies make sure their total spend is being dispersed among many small suppliers, especially in the communities that need to be helped financially. Here are some questions companies should be asking about their supplier diversity program:
– How many suppliers are we supporting?
– Which communities are we developing?
– What commodities/services are we spending our budget on?
Here is a good article from “Spend Matters” that addresses this issue: Diverse Mediocrity? Supplier Diversity Programs Fail to Deliver, Showing Disappointing Homogeneity