Supplier Diversity Best Practices

Supplier diversity best practices involve proactively including businesses owned by underrepresented groups—such as minorities, women, veterans, and small or disadvantaged enterprises—in procurement and supply chains. This approach fosters fair opportunities, drives innovation, and enhances corporate social responsibility. Key practices include setting clear diversity goals, building equitable relationships, providing mentorship, and tracking progress to ensure inclusion. By embracing supplier diversity, organizations can access a broader range of ideas, improve community engagement, and strengthen their overall competitiveness.