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Best Practice Database
Business Operations » Supply Chain Management » Procurement » Supplier Diversity
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Compliance standards require that organizations extend efforts to promote and implement supplier diversity. Today’s forward-looking companies are molding compliance programs that grow external relationships with minority vendors. The resulting programs heighten the instances of minority-owned and women-owned business enterprises in procurement opportunities. This benchmarking presentation compiles metrics to identify ways other companies develop their internal processes to incorporate supplier diversity standards. This is a fundamentally cross-industry study, with a large focus on the utility industry. This knowledge exchange provides metrics and practices in the following critical supplier diversity areas:
This research originated from a Best Practices, LLC Internet Benchmarking Exchange. It was conducted for a Global Benchmarking Council member and was based on surveys with benchmark partners across various industries, with particular focus on the utility industry.