Understand the Business Case for Supplier Diversity and Inclusion
"The Business Case for Global Supplier Diversity and Inclusion: The Critical Contributions of Women and Other Underutilized Suppliers to Corporate Value Chains" demonstrate why corporations such as Accenture, EY, IBM, Intel, Procter & Gamble (P&G), Walmart and others are investing time and resources to build global inclusive sourcing strategies. It will highlight many of the good practices corporations are implementing to achieve successful outcomes, what metrics are available to assess impact, and, most importantly, what sustainable business benefits corporations are deriving from their access to the world’s best solutions.
Go Global with Supplier Diversity and Inclusion
According to the International Trade Administration, more than 70 per cent of the world's purchasing power and 95 per cent of its customers are now located outside the U.S. It's time to take your company's program supplier diversity and inclusion program to the global level, and WEConnect International has what you need to know to succeed. We will show you what you need to before you get started, practical steps to create a gold standard program, and how you can leverage the WEConnect International network to maximize your impact.
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Reach the Gold Standard for Global Supplier Diversity and Inclusion
WEConnect International has developed a Gold Standard Checklist to help multinational corporations and multilateral organizations assess their global supplier diversity and inclusion programs and identify potential areas for improvement. The checklist includes five sections:
- Policy Assessment
- Processes and Standards
- Measurement, Tracking and Reporting
Each item on the checklist is scored. The goal of any multinational corporation or multilateral organization dedicated to supplier diversity and inclusion is to reach 100 points - the Gold Standard.
Best Practice: PG&E’s 2017 Supplier Diversity Annual Report
Pacific Gas and Electric has been a leader in supplier diversity and inclusion efforts, reaching over 40% of diverse spend in 2017. Please review their world-class 2017 Supplier Diversity Annual Report as an industry Best Practice.
"Top Supplier Diversity Programs to Aim to Broaden Value Proposition"
Supplier diversity is evolving from a check-the-box, corporate social-responsibility requirement to a strategic enabler for the procurement function. Top-performing organizations studied by The Hackett Group apply supplier diversity tenets to new areas such as supplier partnering, reputation management and global expansion. Their research has found that the most successful organizations take their cues from high up in the company, where commitment to enterprise-wide diversity begins. They have also identified several trends in supplier diversity where procurement organizations have significant opportunity for added benefit.
Grow Tier 2 Efforts Beyond U.S. Borders
The Global Tier 2 Toolkit was developed to assist corporate members with growing Tier 2 efforts beyond US borders, providing a guideline and best practices sharing from successful corporate global initiatives. As procurement and tracking efforts vary by company, this is not meant to be an exhaustive list but provides key information and strategic guidance.
Supplier Diversity and Inclusion Code of Conduct: A diverse supply chain means a sustainable supply chain
The Supplier Diversity and Inclusion Code of Conduct has been developed by the Royal Bank of Scotland and endorsed by WEConnect International and is guided by the principles of inclusion, development, compliance and continuous improvement.