A handful of socially conscious major companies have long played a role in addressing racial injustice through supplier diversity programs that promote an inclusive approach to procurement. As the spotlight on systemic racism roils the United States, these programs are more important than ever, yet too few companies have them and many of those who do have allowed their diversity initiatives to become token gestures.
Why You Need a Supplier-Diversity Program
It can lift up disadvantaged communities — and make your business more competitive.
August 17, 2020
serts/Getty Images
Summary.
Supplier diversity programs are an important way to combat social injustice in the United States. This article — based on interviews with companies and diversity organizations as well analyses of media coverage and company reports — discusses the socioeconomic contributions such programs can make and the ways they can benefit businesses. It describes model programs of companies such as UPS and Coca-Cola.