Supplier.io has released its 2024 State of Supplier Diversity Report, presenting insights from over 350 supplier diversity leaders across a variety of industries, including manufacturing, finance, retail and transportation.
The research uncovers how organisations are addressing executive demands, data accuracy, ESG coordination and political & economic pressures.
You’ll learn:
- How procurement leaders are responding to political and economic pressures
- The emerging trends and key metrics to focus on for program success
- Strategies for gaining business support and fostering peer connections
- How sustainability is reshaping procurement programs
Supplier.io’s CEO Aylin Basom said the landscape of supplier diversity has undergone transformative changes recently.
“Based on key findings from the report, more organisations are now reporting supplier diversity results directly to CEOs and boards, reflecting the increasing recognition of its strategic importance. Consequently, supplier diversity has become integral not only to business ethics but also to competitive strategy, enhancing brand reputation, winning new business and sharpening supply chain efficiencies,” she said.
“Furthermore, Environmental, Social and Governance (ESG) initiatives have made strides in leveraging supplier diversity as a pillar for growth, all while leadership’s focus is on managing risk and ensuring accurate data.”
Interestingly, supplier diversity leaders say they are prioritising more time with business stakeholders than procurement peers, with 66 percent of respondents spending 50 percent or more of their time with their business counterparts, compared to 34 percent with procurement.
