Supplier diversity is a high-profile part of both a company’s DEI and ESG efforts. In recent years, the number of companies putting greater focus on supplier diversity has grown.
Annually, Fair360, formerly DiversityInc ranks the Top Companies for Supplier Diversity as part of our Top 50 assessment, and as part of that, we ask questions related to how companies track spending across the tiers of the vendors they use. We also work to help them identify metrics and evolve their goals around supplier diversity.
In doing this, we get a view of some of the challenges companies face in tracking tier 2 and tier 3 spending and see some of the best practices leading companies have developed for tackling the challenge.