Supplier diversity
From Wikipedia, the free encyclopedia
Supplier Diversity is a business program that encourages the use of previously underutilized minority-owned vendors as suppliers. It is not directly correlated with supply chain diversification, although utilizing more vendors may enhance supply chain diversification.
Minority- and women-owned business enterprises (MWBEs) are among the fastest-growing segments of the U.S. economy. Minority-owned businesses generate an (1997) estimated $495 billion in annual revenue[1] and employ nearly 4 million workers, while women-owned firms employ about 19 million people[2] and generate $2.5 trillion in annual sales.
Veteran-Owned (VOB) and Service Disabled Veteran-Owned Businesses (SDVOB) are some of the most prominent group on the American entrepreneurial landscape and being sought after by corporate supplier diversity directors. There are over 25 million veterans in this country; or roughly 1 in 5 adult males. 1 in 7 small businesses are owned by a veteran. [3]
[edit] See also
- Procurement outsourcing
- Procurement
- Management contract
- Strategic sourcing
- Supplier relationship management
- National Veteran-Owned Business Association (NaVOBA)
- Florida Minority Supplier Development Council
- National Minority Supplier Development Council
- Women's Business Enterprise National Council
