For the third year in a row, we surveyed supplier diversity professionals and diverse suppliers across an array of industries. By asking them about their successes, trials, and tribulations, we aimed to learn more about the state of supplier diversity and what progress still needs to be made. The survey includes multiple-choice and open-response questions—it’s often the latter that are the most revealing.

We know that small businesses are a vital component of our economy. According to the U.S. Small Business Administration (SBA), there are nearly 30 million small businesses in the United States, accounting for a whopping 99.9 percent of all U.S. businesses, and 8 million of those are classified as diverse businesses. These 30 million small businesses make a significant impact on our economy through job creation and innovation.

It is a universally acknowledged truth that where there is a successful, effective supplier diversity program, there is a C-suite committed to the success of that program. Supplier diversity professionals know that C-suite buy-in is crucial to building an inclusive supply chain, but how do you gain not just support but also passion for supplier diversity throughout your organization? Let’s break it down by position and talk about how you can show your company’s leadership how supplier diversity helps the business meet its goals and achieve bottom-line results.

 

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.