OUR DIVERSITY
We are Woman-Owned
We are Woman-Owned. Some of the world's largest companies, such as Walmart, Accenture, and Johnson & Johnson, are in on one of procurement's best-kept secrets: Supplier Diversity. A diverse supplier network is more than an act of charity. It is a proven way to increase ROl while reducing overall spend. The Hackett Group found that companies that participate in a long-term supplier diversity program generate a 133% greater ROl than companies that rely upon traditional vendors. Here are just some of the ways supplier diversity can give your organization a competitive advantage.
TAP INTO A MORE CREATIVE, INNOVATIVE AND AGILE SUPPLIER BASE
The majority of minority-owned businesses are small to medium-sized. That means those businesses have to be more flexible, continuously finding creative ways to pivot and distinguish themselves from their larger competitors. If a business continues to use their traditional supplier list, they risk missing out on the depth and breadth of innovation that naturally occurs when having a more diverse supply base.
EXPERIENCE TRUE COLLABORATION
One way that minority-owned businesses stand out from their larger counterparts is by offering exceptional customer service. The small diverse supplier offers an opportunity to develop truly collaborative relationships, further allowing a business to capitalize on the supplier’s creativity and help shape it as the customer/supplier relationship grows.
REDUCE DIRECT & INDIRECT SPEND
Building a large database of suppliers from which to source, allows a buyer to analyze the prices, locations, service levels, deliverable dates, and range of goods and to choose those that work best for them. Because suppliers are looking to give the best deal they can to win the business, a buyer can promote competition and thereby reduce their direct and indirect spend.
GAIN ACCESS TO A WHOLE NEW NETWORK
Companies implementing supplier diversity programs are more likely to penetrate new markets and thereby, gain new customers. As the buyer reaches out to more and more suppliers, they can become privy to a supplier’s networks and alliances, opening the door to a volume of fresh business opportunities.
BUILD A REPUTATION OF STEWARDSHIP & INCLUSION
More and more companies are prioritizing diversity and making it an expectation of doing business, demanding that their suppliers also source from diverse suppliers themselves. Display your Company's interest in and commitment to the supply chain of the future, one that is more representative of the ethnic and gender make-up of the communities in which we live and work.
Len DeCandia, Chief Procurement Officer,
Johnson & Johnson
"We believe that when our supplier base reflects the diversity of consumers and patients who use our products and services, we achieve our mission of helping people live longer, happier, healthier lives."
Tom Kendris, President
Novartis Corporation
"Novartis affiliates located in the US continue to work hard to earn our reputation as a leader in diversity and inclusion. For us, best practices include developing a supplier base that reflects the diverse patients and customers we serve - that means nurturing relationships with small, minority, women, LGBT, people with disabilities, and veteran-owned companies and other diverse businesses within our supplier community."
Albert Bourla, Chairman and CEO
Pfizer
“Our equity value is core to who we are as a company. We believe that a diverse supply base not only delivers innovation to support our purpose, but also better connects us to the communities in which we live and work. In that spirit, we are committed to having a supply base that is as diverse as the patients we serve.”
Diversity Spend Report
Are you a current client? Request your diversity spend report and we will send you a comprehensive spend report. Not a client? Contact us to learn how we can advance your diversity initiatives.