Diversity and ESG Suppliers

The scope of responsibility for procurement and supply chain teams has grown and evolved over the years. While there remains a strong focus on getting the right products and services at a good price, corporate and governmental mandates are driving changes in the way suppliers are engaged. In particular, organizations are increasingly likely to consider factors like diversity status and ESG.

Supplier Diversity Progress

Benefits of DEI and ESG Programs

Larger Supplier Base

Supplier diversity helps organizations to access a larger, more diverse supplier base, allowing them to meet their needs more effectively and efficiently.

Community Engagement

By sourcing from diverse suppliers, organizations can show their commitment to the community and demonstrate their support for diversity.

Access New Technologies

In leveraging diverse suppliers, organizations can gain access to innovative solutions that can help them stay ahead of the competition.

Vendorful helps organizations hit Diversity and ESG targets

  • Organize: SRM with classification of suppliers for both diversity and ESG criteria.
  • Solicit: Easily invite underrepresented suppliers to sourcing events like RFPs.
  • Expand: Identify and plan sourcing and saving opportunities that include underrepresented suppliers.
  • Measure: Reporting on diversity and ESG participation in sourcing events.

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