Are you struggling to find qualified diverse suppliers to meet internal goals? Are you looking to expand your pool of potential diverse suppliers as you build a sustainable, inclusive supply chain? Do you want to normalize the inclusion of diverse suppliers in the procurement process? Enter the well-crafted supplier questionnaire: a tool that can save you time and energy while you gather valuable information and promote supplier diversity.

 

We supplier diversity folks like to talk about what’s going well in supplier diversity. The wins, the success stories, the tools and strategies and initiatives that help us reach our goals, the economic impact, the benefit to the bottom line. But what about areas that still need improvement? It’s difficult to look at our peers, our colleagues, or ourselves and admit that we aren’t doing enough.

We are living in a historic era of diversity and representation. The 2018 midterm elections saw the most diverse group of citizens sent to public office in the United States since our country was founded.

In 2018, the #MeToo movement made it clear that women continue to face unequal treatment and challenges in the workplace. Although there’s still considerable progress to be made, the history of women in business proves that change is more than possible—it’s also profitable.

In the past, businesses viewed corporate diversity initiatives as only a form of social responsibility and a means of complying with national standards. Today, it’s becoming clear that both workplace and supplier diversity have even more potential business payoffs. Among other benefits, supplier diversity has been shown to boost innovation, improve brand perception, drive expansion into new markets, create sustainable business growth, and increase profit margins. As you look to make supplier diversity a priority for your business, however, don’t overlook its equally important counterpart—employee diversity.