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Diversity in Action: A Success Story 🚀🌟 Our client’s commitment to diversity led to a strategic partnership with us, transforming their supplier base. We streamlined their network, introducing top-tier diverse suppliers and driving a two-year journey of impactful change. Today, nearly half of their spend (49%) goes to diverse suppliers, showcasing the power of diversity in fostering innovation and growth. Want to elevate diversity and performance in your organization? Get in touch today 👇 and let’s achieve greatness together! https://lnkd.in/ewhYXXCk

🔥 Uncover the Power of Supplier Diversity in Our Exclusive Fireside Chat! 🔥 We’re excited to host a pivotal Fireside Chat at the WEConnect International APAC Conference: "Supplier Diversity: The Cornerstone of Inclusive Growth" Join us as we explore how supplier diversity is not just a trend but a fundamental driver of inclusive growth and innovation. This session will feature Adarsh Katta (Addy) and Michael Tobolski sharing their invaluable insights on building a more diverse and equitable supply chain. Be part of a conversation that could transform the way you think about diversity and its impact on business success. #SupplierDiversity #InclusiveGrowth #FiresideChat #Innovation #BusinessStrategy #genderinclusivesourcing #businesscase Eroshan Alagaretnam Poonam Mehdiratta

A clever friend advised me to follow up on last night’s CoreNet NorCal meeting on understanding the role of CRE in ESG, specifically creating a diverse supplier network. Looking at you Nida Mehtab! 🌟 Calling all forward-thinking companies! 🌟 Let's create a more inclusive and equitable business environment. Ready to make a positive impact on your supply chain? Here are insights on how to kick-start your own supplier diversity program 💼💪🌈: 1️⃣ Educate and Engage: Educate your leadership team and employees about the importance of supplier diversity. Foster inclusion and encourage open discussions. Engage stakeholders to ensure understanding and commitment. 2️⃣ Set Clear Goals: Define your supplier diversity goals and objectives. Determine success and how to measure progress. Align with your overall business strategy. 3️⃣ Assess Your Current State: Analyze your current supplier base. Identify gaps or underrepresentation of diverse suppliers. Understand starting point and improvement opportunities. 4️⃣ Develop a Supplier Diversity Policy: Create a robust policy that outlines your commitment, goals, and expectations. Align with company values. 5️⃣ Build Relationships: Actively seek diverse suppliers through networking events and online platforms. Establish connections and understand their capabilities. Collaboration and partnership are key. 6️⃣ Provide Support and Resources: Offer resources, training, and mentorship programs to help diverse suppliers navigate procurement processes. Support their growth and development. 7️⃣ Measure and Track Progress: Implement a tracking system to monitor program effectiveness. Review progress, identify areas for improvement, and celebrate successes. Transparency and accountability are essential. 8️⃣ Share Your Journey: Communicate your efforts internally and externally. Share success stories, highlight diverse suppliers, and showcase the positive impact. Inspire others to follow your lead. This is an ongoing journey that requires dedication, patience, and a long-term commitment to an inclusive supply chain. The rewards are immeasurable - driving social change, unlocking innovation, enhancing brand reputation, and contributing to a sustainable future. Let's build a diverse and inclusive business landscape together! Many thanks to Brian Ziskie the driving force behind Supplier Diversity at Genentech #SupplierDiversity #DiversityandInclusion #InclusiveBusiness #EquitableSupplyChain #Leadership

In the world of business, embracing supplier diversity is like sending a love letter to the future of innovation and growth. Corporations that open their hearts to a diverse range of suppliers find themselves enriched not just in spirit, but also in their bottomline. It's a courtship that pays dividends, fostering an environment where creativity blossoms and opportunities flourish. If you'd like to learn on making the business case for responsible sourcing, sign up for our monthly executive forums: https://lnkd.in/e33uiipm #SupplierDiversity #ResponsibleSourcing #CorporateResponsibility

🌟My journey with Supplier Inclusion and Diversity: A Path to Innovation and Growth 🔍 What is Supplier Diversity? In today's global economy, Supplier Inclusion and Diversity (SI&D) is not just a moral imperative—it's a strategic advantage. SI&D involves integrating diverse suppliers into a company's supply chain, fostering innovation, and reflecting a commitment to social responsibility 🎯 Why are CEOs and Top Leaders Targeting Supplier Diversity? Market Reach: Diverse suppliers open new market opportunities, leading to increased revenue. Innovation Boost: Diverse perspectives drive innovation, creating products/services for a broader audience, boosting revenue. Brand Favorability: Supplier diversity enhances brand reputation, increasing customer loyalty and revenue. Cost Savings: Diverse supplier pools foster competition, reducing costs and improving profit margins. . 🚀 Step-by-Step Process to Start with Supplier Diversity in Your Organization 1. Assessment: Evaluate current supplier diversity and identify gaps. 2. Goal Setting: Define clear, measurable diversity objectives. 3. Engagement: Establish partnerships with diverse suppliers. 4. Training: Educate procurement teams on SI&D benefits and practices. 5. Measurement: Implement tools to track progress and impact. By embracing supplier diversity, companies can drive growth and innovation while contributing to a more inclusive economy. #SupplierDiversity #Inclusion #BusinessGrowth #Innovation #DiversityMatters #SupplyChain

Unlock the Benefits of Supplier Diversity Ever wondered how supplier diversity can revolutionize your business? Embracing diverse suppliers isn't just a trend; it's a game-changer. Here’s why: Innovation and Creativity: Diverse suppliers bring unique perspectives and fresh ideas, sparking innovative solutions and creative problem-solving. Market Competitiveness: They offer competitive pricing and high-quality products, boosting your overall cost efficiency and market edge. Talent Attraction and Retention: A commitment to diversity showcases an inclusive culture, attracting top talent who value diversity and inclusion. Corporate Reputation and Social Responsibility: By prioritizing supplier diversity, you enhance your corporate reputation and position your company as a socially responsible leader. Imagine the transformative power of a business environment enriched by diverse voices and perspectives. Not only will your company thrive through innovative solutions and competitive pricing, but you'll also attract top talent and enhance your corporate image. Ready to unlock these benefits? Make supplier diversity a core part of your strategy and watch your business flourish. Follow me for more insights on building a diverse, inclusive, and successful business. Together, we can make a difference! #SupplierDiversity #Innovation #MarketCompetitiveness #InclusiveCulture #CorporateResponsibility #BusinessGrowth #FollowForMore #mvdconsulting #consulting #business #growth #smallbusiness #womeninbusiness #grant #diveristy #justice #entrepreneur #ontario

With inflation significantly affecting costs for many organizations, the considerations around nearshoring and understanding supplier capability are crucial to enabling an agile #supplychain. Here’s where supplier diversity strategies can help: https://lnkd.in/dyFU-CYc #EYSupplyChain #resilience #procurement

This data indicating that Global Supplier Diversity Programs increased from 17% in 2021 to 20% in 2022 is a testament to a commitment to fostering inclusive and equitable supply chains worldwide. Expanding globally not only diversifies our supplier base but also enhances our ability to innovate, adapt, and thrive in a competitive global marketplace. This growth reflects our dedication to supporting diverse suppliers everywhere and demonstrates the scalability and effectiveness of our diversity initiatives. As we continue to champion supplier diversity, our focus remains on creating opportunities and driving value for diverse suppliers across the globe, ensuring that our commitment to diversity and inclusion translates into tangible, worldwide impact.

The Business Roundtable - business to be run for the ‘benefit of all stakeholders 💼 The Business Roundtable: Prioritizing the Benefit of All Stakeholders 💼 The Business Roundtable, comprising top CEOs from major companies, has made a transformative commitment to redefine the purpose of a corporation. Instead of focusing solely on maximizing shareholder profits, these leaders now pledge to run their businesses for the benefit of all stakeholders, including customers, employees, suppliers, communities, and shareholders. This holistic approach recognizes that sustainable success is built on the well-being of everyone involved. By prioritizing customer satisfaction, investing in employee growth, fostering fair supplier relationships, and supporting community initiatives, companies can build trust, loyalty, and resilience. This shift not only addresses the ethical demands of today's society but also drives long-term innovation and growth. The new vision from the Business Roundtable aligns with the increasing demand for corporate responsibility and transparency. Embracing this inclusive business model means creating value that extends beyond financial returns, contributing to a more equitable and sustainable future for all. 🌟 #BusinessRoundtable #StakeholderValue #CorporateResponsibility #SustainableBusiness #InclusiveGrowth Join the conversation, share your insights, and support the movement towards businesses that prioritize the benefit of all stakeholders! 🌍💼

Harnessing the power of supplier diversity goes beyond just good business—it's a catalyst for innovation and growth. Ralph G. Moore, CPA, President of Ralph G. Moore & Associates (RGMA), emphasizes that a diverse supplier base drives innovation, which in turn fuels corporate success and operational excellence. Moore's mission is clear: to bridge the gap between thousands of emerging minority suppliers and corporations ready to embrace innovation. Through supplier diversity, RGMA aims to redefine business practices, empowering minority suppliers to not only transform communities but also elevate America's global competitiveness. Learn more about the transformative impact of supplier diversity and RGMA's groundbreaking initiatives: https://hubs.la/Q02qQ2Y_0 #SupplierDiversity #Innovation #BusinessGrowth #CorporateResponsibility #ProfileMag