As the novel coronavirus (COVID-19) pandemic continues to impact every part of our lives, anticipating and resolving supply chain obstacles has become more critical than ever. 

Diverse suppliers could be a solution for companies seeking to fill supply chain gaps or find innovative ways to meet emerging needs. 

But with so much of our “business as usual” disrupted, many supplier diversity professionals are wondering how to find diverse suppliers during COVID-19. The usual routes of discovery—primarily industry conferences and business expos—are not accessible during this time of social distancing.

A business is only as good as its supply chain, and a supplier diversity program is only as good as the diverse suppliers it identifies and brings into that supply chain.

The novel coronavirus (COVID-19) is impacting our world in unprecedented ways. Schools are closed. People have been asked to stay home whenever possible. Masks and gloves are common sights. Shelves in stores are empty of many basic supplies.

As the global pandemic continues to disrupt business—and life—as usual, our global supply chain is straining under the pressure to fulfill essential needs. Restrictions on importing from certain locations along with increased and new demand for certain commodities are exposing weaknesses in the supply chain. 

As procurement teams search for alternative sources to fill temporary gaps, it’s time to consider new suppliers and partners in the marketplace.

Every economic downturn raises corporate budgeting questions that may affect business programs such as Supplier Diversity. While some may wonder if companies will continue their Supplier Diversity efforts due to tightening budgets, others feel that these efforts become more necessary during an economic slowdown. We are squarely in the latter camp.

COVID-19 will bring fundamental changes in the purchasing needs and behaviors of US organizations. Supplier Diversity teams bring the skills, knowledge, and networks that can help organizations better navigate these changes.