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Simple Steps for Growing Supplier Diversity

By January 14, 2024April 15th, 2024No Comments

Supplier diversity is one of the most important corporate programs led by procurement. Whether a company is B2B or B2C, customers of all kinds have made clear that they prefer to do business with companies that share their values, and that includes investing in communities that have much to offer if only they are given the opportunity.

In many cases, however, the company’s focus is placed on inclusion, vision, goals, and corporate mission. Everyone is inspired – but unsure about what to do next. Procurement is often left to their own resources to figure out which strategies and tactics will actually move the needle on supply base diversity.

In this AOP Live session, we were be joined by Daniel Dorr, VP of Marketing at supplier.io, and Lois Eichacker, their VP of Customer Success, who broke down the simple steps procurement can take to achieve the lofty vision and value associated with a growing supplier diversity program.

Daniel and Lois connected core procurement capabilities with the progress companies want to make with their supplier diversity programs:

  • Why a solid spend baseline is the key to fueling supplier diversity growth
  • The data that procurement needs before they can influence business decision makers
  • How focusing on specific categories of spend can create the basis for impact at scale
  • Setting expectations up front to drive lasting change longer term

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