Why should supplier diversity become a definitive business strategy at your organization? It’s a win-win best practice.
A diverse supply chain not only adds different solutions and a variety to goods and services but it also can reinvigorate communities. Doing business with small- to medium-sized MBEs and WBEs fuels economic growth and gives local customers more disposable income to spend, resulting in greater revenue potential.
In the 1,405-word article The Business Case for Supplier Diversity, supplier-diversity leaders from four companies that excel in this area discuss how they make the business case for supplier diversity. The heads of supplier diversity at Ameren, Toyota, Cox Communications and Walmart spoke with DiversityInc’s Luke Visconti, CEO, and Barbara Frankel, senior vice president and executive editor, in a roundtable.
Readers will learn:
- Why Cox Communications views supplier diversity as an investment for long-term growth
- How Toyota uses its diverse chain of suppliers to drive innovation for its products and increase business advantage
- Why Walmart started an investment fund to help grow its MBEs and WBEs
- How Ameren expanded its supplier-diversity initiatives to include Tier II suppliers
For more on supplier diversity, read A Win-Win: Companies Thrive, Communities Get a Boost With Supplier Diversity and The 2012 DiversityInc Top 10 Companies for Supplier Diversity.