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The power of diversity in procurement: Driving business success through inclusion — Part 3 (Technology)

09/13/2023 By

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In today's diverse society, businesses have a crucial role to play in fostering equality and inclusion. However, the business world often needs to improve to reflect the true diversity of society, both within companies and in their supply chains. To bridge this gap, organizations are increasingly embracing the concept of supplier diversity in their procurement processes. Supplier diversity involves actively promoting and engaging diverse suppliers, including those owned by minority groups, women, veterans, LGBTQ+ individuals and persons with disabilities. By incorporating a wide range of suppliers, businesses can create an inclusive supply chain that reflects the diversity of the broader society.

In part 1 of our mini-series we explored the topic of supplier diversity, starting with defining what it is and why it matters. In part 2 we went deeper into the related return on investment (ROI).

Here in part 3 we will focus on the role of procurement technology and offer a landscape of providers that have solutions for managing supplier diversity.

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Series
Supplier Diversity
Topics
Procurement Strategy trends