SUPPLIER DIVERSITY BEST PRACTICES FOR NEW PROGRAMS

SUPPLIER DIVERSITY BEST PRACTICES FOR NEW PROGRAMS

The first step in creating an effective supplier diversity program is deciding whom you will benchmark your program against and why. Answering the “why” should be fairly easy – to meet the organization's goals.

Setting meaningful goals ties supplier diversity to business strategy for the organization as a whole. Your goals should be reasonable and achievable, help to identify weak areas that need improvement, challenge the status quo and discourage complacency, confirm the need for change and provide strong motivation for change. This last point is critical to establishing employee buy-in.

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