Supplier Diversity For Dummies

Chapter 3

Supplier Diversity Management: A New Way of Thinking

IN THIS CHAPTER

Understanding the basics of supplier diversity management

Looking at the supplier diversity management Process

Breaking down the SDM model

Asking yourself important questions as you launch SDM

From organizations to entrepreneurs, supplier diversity is on everyone’s minds. For entrepreneurs, it’s knowing how to leverage supplier diversity to create business relationships, win contracts, and grow a sustainable business. For organizations, it’s developing an impactful program that brings value to the organization and the community. As each group tries to gain that understanding, supplier diversity has grown from a cursory academic construct to a viable management and entrepreneurship strategy and worthwhile organizational pursuit.

Whenever I begin working with a new client, I always like to get a sense of their current supplier diversity operation. Often, they explain their desire for a program. They have available opportunities and are performing the requisite activities, but they’re still not getting the ...