Supplier Diversity For Dummies

Chapter 10

Creating an Effective Supplier Diversity Plan

IN THIS CHAPTER

Discovering the six components of supplier diversity planning

Crafting your vision and mission statements

Outlining your objectives, activities, and results

Compiling all the parts for your full plan

An old proverb (often attributed to Ben Franklin) says, “If you fail to plan, you are planning to fail.” And it’s true; creating an effective supplier diversity program is almost impossible without crafting a supplier diversity plan. Yet many conventional organizations, with their silos and territorial structures, sometimes overlook this step. However, silos don’t work in today’s modern and successful supplier diversity programs because the success of these initiatives depends heavily on internal and external collaboration.

Planning bridges the gap between where the program currently is and where you want it to go. A supplier diversity plan is important because it provides the foundation for how your organization will implement this important strategy. An effective supplier diversity plan should

• Align with the ...