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Start a world-class program that delivers measurable results
Program management that helps you advance supplier diversity
Spend data into strategic insights with Simfoni's AI-enabled
Composable automation, and resources to bring more of your unmanaged
Spend with the most comprehensive and accurate diverse supplier data available.
Streamline your supplier diversity program’s processes and make it easier than ever for your entire organization
Share the real impact of your program on the communities you extend that impact down your supply chain
Supplier Diversity is any business that is owned and operated by an individual or group that is part of a traditionally underrepresented or underserved population. These businesses are often collectively referred to as minority- and women-owned business enterprises (MWBEs).
The procurement dollars spent exclusively often, conveyed in a dollar quantity or proportion of total procurement spend. To help promote diversity and inclusion, many businesses maintain yearly supplier diversity programs by identifying and doing business with a range of diverse companies.
A diverse supplier is commonly defined as at least 51% owned and operated by an individual or group that is part of a traditionally underrepresented or underserved population.
Businesses with more diverse suppliers can benefit from better-quality products and services, lower costs and increased innovation. Effective supplier diversity programs require dedicated investment, resources, leadership, governance and goals.
Helping supplier diversity grants the economy as a corporation's more direct community with the inflow of cash. ramping up current programs also offers a multitude of tangible benefits to your business, including improving market share, increasing company flexibility, and boosting competition among a business’s suppliers.
To successfully establish relationships with diverse suppliers, companies will find it easier to gain respect and trust from diverse businesses if they become active in the community. This can be accomplished through community outreach programs and attendance at minority business and career fairs.
Knowing what percentage of suppliers is diverse is not enough. See how much you spend with each one and make positive changes to use and support them more.
See your spending patterns with diverse and non-diverse suppliers and take action. Dashboards have special filters to look at each area through diversity specific lenses.
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