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Benchmarking Supplier Diversity to Drive Performance

By March 7, 2023May 29th, 2024No Comments

Supplier diversity program managers are among the most passionate professionals in procurement. They convert social vision into actionable plans for connecting with suppliers from traditionally leveraged communities – often working as allies with traditional competitors in order to do so.

Given the social importance and consumer awareness of the supplier diversity movement, companies need access to actionable insights to benchmark their performance. This data allows them to uncover opportunities to grow their supplier diversity program and increase their economic impact.

Supplier.io recently analyzed $1.4 trillion in spend looking for benchmarks that can be used to identify top performers and aid the advance of all supplier diversity programs regardless of maturity, size, or industry.

In this AOP Live session, Philip Ideson and Kelly Barner were joined by Aylin Basom, CEO of Supplier.io, and Lois Eichacker, their Vice President of Customer Success. They shared the findings of the 2023 Supplier Diversity Benchmarking Report and discuss the importance of having an accurate, reliable, and consistent way to measure supplier diversity program results.

Aylin and Lois answered questions about:

  • Why actionable data and benchmarks are critical to advancing the mission of the supplier diversity movement
  • What we can learn when we study small supplier spend and diverse supplier spend separately
  • The role that industry plays in determining relevant supplier diversity benchmarks
  • Opportunities for companies to outperform their peers based on proven best practices

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