Supplier diversity
Encyclopedia
Supplier Diversity is a business program that encourages the use of: minority-owned, women owned, veteran owned, LGBT
-ownedhttp://www.commerce.gov/news/secretary-speeches/2010/11/19/remarks-gay-and-lesbian-chamber-commerce-annual-business-and-lead, service disabled veteran owned, historically underutilized business, and SBA defined small business 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 revenuehttp://www.sba.gov/advo/stats/min.pdf and employ nearly 4 million workers, while women-owned firms employ about 19 million peoplehttp://centreforwomensbusinessresearch.org/press/details.php?id=125 and generate $2.5 trillion in annual sales.
There are an estimated 800,000+ LGBT-owned businesses in the U.S.http://www.nglcc.org/news/pressreleases/20050609
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. http://www.navoba.com
Supplier diversity is the proactive business process of sourcing products and services from previously under-used suppliers. This process helps to sustain and progressively transform a corporation's supply chain thus quantitatively reflecting the demographics of the community in which it operates by recording transactions with diverse suppliers.
LGBT
LGBT is an initialism that collectively refers to "lesbian, gay, bisexual, and transgender" people. In use since the 1990s, the term "LGBT" is an adaptation of the initialism "LGB", which itself started replacing the phrase "gay community" beginning in the mid-to-late 1980s, which many within the...
-ownedhttp://www.commerce.gov/news/secretary-speeches/2010/11/19/remarks-gay-and-lesbian-chamber-commerce-annual-business-and-lead, service disabled veteran owned, historically underutilized business, and SBA defined small business vendors as suppliers. It is not directly correlated with supply chain diversification
Supply chain diversification
Supply chain diversification is a manufacturing business terminology used to describe the act of increasing choices for when to order what supplies from whom to bring products to the market. In short, it describes the abundance and flexibility of the suppliers for a certain product...
, 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 revenuehttp://www.sba.gov/advo/stats/min.pdf and employ nearly 4 million workers, while women-owned firms employ about 19 million peoplehttp://centreforwomensbusinessresearch.org/press/details.php?id=125 and generate $2.5 trillion in annual sales.
There are an estimated 800,000+ LGBT-owned businesses in the U.S.http://www.nglcc.org/news/pressreleases/20050609
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. http://www.navoba.com
See also
- Procurement outsourcingProcurement outsourcingProcurement outsourcing is the transfer of specified key procurement activities relating to sourcing and supplier management to a third party — perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies...
- ProcurementProcurementProcurement is the acquisition of goods or services. It is favourable that the goods/services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location...
- Management contractManagement contractA management contract is an arrangement under which operational control of an enterprise is vested by contract in a separate enterprise which performs the necessary managerial functions in return for a fee. Management contracts involve not just selling a method of doing things but involves...
- Strategic sourcingStrategic sourcingStrategic sourcing is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company. In a production environment, it is often considered one component of supply chain management...
- Supplier relationship managementSupplier relationship management“SRM is a discipline of working collaboratively with those suppliers that are vital to the success of your organisation to maximise the potential value of those relationships.” - Reference - Overview :...
- National Gay & Lesbian Chamber of CommerceNational Gay & Lesbian Chamber of CommerceThe National Gay & Lesbian Chamber of Commerce is a U.S. not-for-profit advocacy organization specifically dedicated to expanding the economic opportunities and advancements of the LGBT business community. The NGLCC headquarters is located at 729 15 Street, NW in Washington, D.C...
- National Veteran-Owned Business Association (NaVOBA)
- DiversityBusiness.com
- Florida Minority Supplier Development CouncilFlorida Minority Supplier Development CouncilFlorida Minority Supplier Development Council has been in existence since 1984. They work with all aspects of minority business development They are one of Florida Minority Supplier Development Council’s 39 Regional Councils Their objective has been, and remains to assist the private sector...
- National Minority Supplier Development Council
- Women's Business Enterprise National Council
Supplier diversity is the proactive business process of sourcing products and services from previously under-used suppliers. This process helps to sustain and progressively transform a corporation's supply chain thus quantitatively reflecting the demographics of the community in which it operates by recording transactions with diverse suppliers.