Strength in Diversity – Not Numbers

LetsTalk SupplyChain
April 12, 2019
4:44 pm

By Sheri Spinks

ENGAGED CULTURE

It is often said that two heads are better than one, but if those heads belong to two individuals that share the exact same values, beliefs, background, skills and experience, culture, and education – where is the value in that?

If you were a coach, would you build a hockey team of all goalies and expect to win? The same strategy applies for building a successful workforce, supply chain and organization. In business, leaders and teams that recognize the importance of an inclusive culture that leverages a diverse mix of individual talent, experience, thought and skills develop a competitive advantage in which they can fully engage the talents of their people and partners, meet the needs of global clients, and build meaningful relationships in the communities in which they live, work and serve.

STRATEGY

A diverse strategy delivers strength and success in the form of innovation, brand enhancement and revenue generation when an organization effectively combines their shared values, mission and purpose with the recognition, celebration and inclusion of differences demonstrated by their customers, people, partners and suppliers.

ARE YOU A LEADER?

“Strength lies in differences, not in similarities”– Stephen R. Covey

SUPPLIER DIVERSITY

Supplier diversity is the extension of diversity and inclusion to the supply chain, whereby organizations actively seek out, partner and do business with certified minority ‘diverse’ suppliers that support and fulfil corporate business needs. Minority-owned suppliers are often more flexible and agile and demonstrate an ability to cater to the needs of their customers on a level that is seldom seen with large corporate suppliers.

ELEMENTS OF SUCCESS

The success of a robust supplier diversity program relies heavily on the effective integration and alignment of program goals to the corporate strategy, goals and objectives. Any program should start with these critical elements and then be tweaked to suit their own organizational needs:

Support the corporate strategy, vision and goals

Create an equal opportunity for all suppliers to participate in the supply chain

Publish a clearly defined supplier diversity policy that outlines executive management commitment and overall management accountability

Strengthen and improve supply chain performance via new innovative partners offering cost-effective, valuable solutions that solve business challenges

Brand enhancement and equity improvements

Supplier diversity success measures and metrics– efforts and utilization

BUSINESS VALUE

The business case for diversity extends way beyond traditional benefits of corporate social responsibility and is not about doing the right thing, but the smart thing. Diversity drives both business and economic value. By employing diverse talent and doing business with diverse suppliers, organizations are having a direct positive impact on the economic state of communities and sustainability of suppliers, increasing collective buying power and market demand presenting both top and bottom line organizational growth opportunities.

BUSINESS EXCELLENCE

Diversity and inclusion programs and initiatives are no longer nice to have, but rather a standard of business excellence and an expectation on a consumer, employee, investor and partner level.

An organization that successfully implements a holistic program that encompasses diversity and inclusion of people, partners, suppliers and communities are well equipped to rise to leaders within their respective markets, in their communities and on a global level.

Want to learn more?

You can get in touch with Sheri at her coordinates below to chat about all things supply chain & diversity.

About The Author:

Sheri Spinks, CSCMP, CPP

Diversity ChampionExecutive Secretary & Director, Supplier Diversity, WBE, The Global Council for the Advancement of Women in Procurementcontact@Grace2solutions.comFollow Sheri on Twitter: @sheri_spinksLinkedIn: sherispinksSheri is a dynamic, accomplished and certified leader in supply chain management, procurement and supplier diversity and was recently recognized as one of Canada’s 100 Influential Women in Supply Chain™ by the Supply Chain Management Association of Canada (SCMA).She is a passionate advocate for diversity and the empowerment of women in business and was recognized as one of Canada’s Top 10 Most Influential Women in HR & Diversity for her contributions in advancing diversity .www.Grace2solutions.comTwitterLinkedInInstagramFacebook