Dec 15, 2020
Do you think you understand and practice supplier diversity and inclusion? The Harvard Business Review describes a diverse supplier as “a business that is at least 51% owned and operated by an individual or group that is part of a traditionally underrepresented or underserved group.” Bearing that in mind, onboarding diverse suppliers to your supply chain is far more than “the right thing to do.” Supplier inclusion best practices can help your company build a more agile, innovative, and profitable supply chain.
Today, Breaking Barriers hosts, Cloe Guidry-Reed and Adam Moore discuss supplier diversity and inclusion, and what it means for the next generation of entrepreneurs. They break down the categories of diverse suppliers and discuss what needs to be done to give new-majority-owned companies greater access to opportunities in enterprise supply chains.
Cloe and Adam also look at the history of supplier inclusion, starting with the Civil Rights Movement in the 1950s and 1960s to its evolution into an economic development initiative. In addition, the podcast hosts talk about the differing responsibilities small businesses have compared to large corporations, and how those smaller businesses can mitigate their own risks when they are brought into a larger organization.
“Supplier diversity for me from a corporate standpoint isn't so much a definition or a case study as it is a program where we're actively helping reduce the barrier of entry to small and diverse businesses into corporate America” – Adam Moore
“Supplier diversity is a lot more than just going and trying to find a high-powered supplier and bring them into your organization. It is pipelining. It is mentoring. It is pulling up alongside and helping them understand what it means to be inside corporate America” – Adam Moore
“We have to educate corporate America on how to work with our small and diverse business owners” – Adam Moore
“We know that small businesses are the lifeblood of our country” – Cloe Guidry-Reed
“We have to have those nimble agile companies out there that help direct change” – Adam Moore
This week on Breaking Barriers
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