Extending DEI Principles Through Supplier Diversity

In this episode, Michelle discusses the crucial topic of supplier diversity as an effective way to extend DEI principles beyond the internal workings of an organization and into the community. Michelle outlines six key areas to consider when developing a supplier diversity program: mission and principles, KPIs and spending, sourcing and onboarding, support and development, tier 2 suppliers, and governance. By focusing on these areas, organizations can better align their supplier diversity efforts with their overarching DEI goals, ensuring meaningful and measurable impact.

Michelle also highlights the importance of aligning with suppliers who share similar values and encourages tracking current spending patterns to set achievable goals. She also discusses the need to support and develop long-term relationships with diverse suppliers, potentially turning them into strategic partners. Resources and organizations like the Billion Dollar Roundtable, the National Minority Supplier Development Council, and numerous chambers of commerce are recommended for organizations seeking guidance on supplier diversity.

Key Topics Discussed:

• Introduction to Supplier Diversity

• Definition of Diverse Suppliers

• Importance of Supplier Diversity

• Key Areas to Consider in Supplier Diversity Strategies

• Resources and Organizations for Supplier Diversity:

• Guidance on Implementing Supplier Diversity Initiatives