Q. Why are companies making an effort to track suppliers owned by LGBT people or people with disabilities Is supplier diversity really innovative or is it just politically correct
A. Over the last two years, Fair360, formerly DiversityInc has seen more than a 10 percent increase in the percentage of spend with LGBT-owned businesses, and more than a 25 percent increase of spend with businesses owned by people with disabilities.
Innovative companies know that in order to be competitive and relevant in the marketplace, they must understand and solicit emerging-market customers such as LGBT people and people with disabilities, as well as allies to these groups. In order to do this, they are seeking more partnerships with these suppliers.
