Diverse Supply Chains Lead to Diverse Businesses

What’s happening? MIT looked at how do businesses increase diversity when investors are seeking out more diverse businesses. They define diverse as “small businesses or companies owned by minorities, women, veterans, members of the LGBT community, or people with disabilities.”

Why is this important? Procurement can be your business’ path to improved diversity.

How will this be important? Customers are 3X more likely to buy from a business seen as diverse. Even with companies that report diversity only 10% of suppliers are diverse- its an open and growing avenue.

MIT Sloan Management Review | How Procurement Can Strengthen Diversity and Inclusion