Companies look to utilize diverse-owned suppliers for a variety of reasons ranging from regulatory requirements to constituency expectations to deep-seeded corporate philosophies.

As a provider of supply chain management services to the hospitality industry, Avendra has developed an approach to building relationships between customers and diverse-owned businesses that seems to work for all parties. In order to set up, maintain and monitor a successful supplier diversity program, we believe there are three vital steps:

1. Identify success metrics - Clearly outline the business benefits and quantify the ultimate goals,
2. Outreach & qualification - Set up an outreach system that both identifies and qualifies appropriate diversity suppliers for the given business goals,
3. Measure & enhance - Keep track of the successes and the challenges, and look to constantly evolve your program to meet your unique goals.

Identifying Success

Start by really thinking about what your organization is looking to get out of a diverse supplier program. Many companies start with the foundational belief that using minority suppliers is good for business, then move to a more tactical view of how to make that vision a reality. What specific targets and metrics will allow you to meet your business objectives? What are the interim steps and milestones ...