Corporate supplier diversity and supply chain management represent an evolving process that factors the changing landscape of business and incorporates full participation from a diverse pool of vendors and suppliers. Simply stated, supplier diversity is good for the bottom line. Not only is it the right thing to do, it's the smart and profitable thing to do too.
From a global perspective, supplier diversity brings knowledge and experience to corporate America that aids in understanding the world and competing effectively on an inclusive, universal scale. Reality check: around the world, "minorities" are not the minority, so it is imperative for companies with a multinational presence to embrace doing business beyond traditional borders. Nationally, minorities represent 34 percent of the United States population, but currently, minority businesses represent only 21 percent of total businesses, 7 percent of gross receipts, and 3 percent of total corporate purchases. The disparity of economic parity across all sectors of the business community consequently represents an immense opportunity and advantage for minority business growth and economic development.
The PR PROs network has assisted some of the world's largest corporations and supplier diversity trade organizations in communicating their commitments to inclusivity in business. When your organization is ready to re-brand supplier diversity initiatives, update marketing communications materials, or change the conversation about how business is done, we can help.