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Supplier Diversity: An Area of DEI Impact that deserves more awareness

The most common metric used for Supplier Diversity is tracking and reporting spend, primarily with Tier 1 suppliers. However, there's real impact to the bottom line when businesses diversify their supplier base. These bottom-line impacts need to be messaged as an Area of DEI Impact. Moreover, strategic sourcing & procurement should have Supplier Diversity as a priority for identifying commercial and competitive advantages in their supply chain. In addition to hard cost savings to be realized, supplier diversity also fits squarely within ESG compliance and enhances corporate social responsibility initiatives.


Let's make Supplier Diversity a strategic topic of discussion when Procurement speaks from its seat during the C-Suite roundtable. The benefit is mutual between the supplier and the buyer - the buyer's bottom-line benefits as much as (perhaps more than) their suppliers'. Therefore, the round of applause needs to be longer and louder for increasing spend with diverse suppliers year over year. And awareness needs to increase about the real impact of supplier diversity. #DEI #MessagingMatters #supplierdiversity #diversity #equity #inclusion #bottomline #sustainability #DEIimpact #growth

Contact TULIP Advisory Professionals LLC to help you with a 360-degree DEI Impact Analysis. For more information, email us at info@tulipadvisory.com.

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