In this Meeting in a Box, we give you information for all of your employees on what supplier diversity is, best practices on how to start a supplier diversity program and what metrics are best to access success. It’s important that everyone in your company understands the value of supplier diversity and how it builds company growth and loyalty.
- A supplier diversity primer
- Tips on how to start a supplier diversity program
- Metrics to assess supplier diversity success
- Tips on how to maintain supplier diversity success
- A historic timeline
- Facts & figures
- And a best practices sheet, with tips from Fair360, formerly DiversityInc’s Head of Strategic Partnerships, Lissiah Hundley
1. Supplier Diversity Primer
Former President Richard Nixon began supplier diversity in 1969 through an executive order. Its goal, a branch of the civil rights movement, was to encourage the use of vendors that underrepresented populations owned. Initially, those groups were known as minority-owned business enterprises (MBEs), which consisted of companies owned by Black, Latinx, Asian and indigenous people. Women-owned business enterprises (WBEs), which consisted of companies owned by women, were included later.