Supplier Diversity 101
Tips to Increase Diversity
In the wake of recent events such as racial equality protests, social unrest, and COVID, the need for diversity within our lives and businesses has become paramount. Diversity has been proven to lead towards lasting positive change and more holistic solutions for clients and the companies themselves. Although increasing diversity may seem a small feat, maintaining and increasing supplier diversity within any industry can lead to global and national transformation. Diverse minds and perspectives provide new ideas, thoughts, and leadership for companies and thus, enables them to increase revenues.
THE IMPACT OF SUPPLIER DIVERSITY ON OUR NATION
Have we changed as a nation? I ask myself that question several times daily as I reflect on the examples of racial injustice with George Floyd, Breonna Taylor, Ahmaud Arbery, Christian Cooper and countless other similar victims. More importantly than that question is, what can we do to enact even greater changes? For us to have a significant change, there must be a collaboration among community leaders and activists, multiple generations, government at all levels, national and local politicians, and corporations.
If It Is To Be, It Is Up To Me
Our CEO + Founder Shares His Journey to Supplier Diversity
Growing up in the inner city of Chicago on its dangerous West Side, Robinson LaRueCo Consulting (RLC) Founder and CEO Lamont Robinson knows well the challenges of living in an under-served community. As a child, he remembers wondering why he never saw a business owner who looked like him and over time began to believe it just wasn't possible.
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Diversity Equals Sustainability
An Interview with our President of Supplier Diversity + Community Engagement
According to Jesse Crawford, diversity is sustainability because of the different values and benefits brought to the table when we look at attributes such as gender, age, ethnicity, experiences and differences of thought. Everyone benefits from those different perspectives if we can truly appreciate and capitalize on what those contributions bring.
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Financial Gains of Supplier Diversity
An Interview with our President of Finance + Operations
"Knowing a corporation needs to meet a diverse supplier spend raises all competition because it requires all viable competitors to up their game and think outside the box, by either offering savings or doing affordability initiatives to reduce their own costs in order to better compete with diverse businesses that may be more agile," says Adrianne Norwood. "Supplier diversity forces people to get creative, which is a win all around."
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Understanding Business Cost and Its Impact on Supplier Diversity
By working in finance in the defense sector and in the consulting arena for Diversity and Inclusion, we often hear people say that they can't afford to include diversity into the procurement strategy. It seems like the number one reason why diverse business owners aren't even considered. At RLC, we fight against this myth every day, so we'd like to sprinkle a little truth serum by breaking down the components of this myth.
Trends are converging to position diversity as a strategic imperative – is your company ready?
Even before the onset of COVID-19 or a change in presidential administrations, diversity was on the fast track to becoming a strategic business imperative. Recent social movements – “Black Lives Matter,” “Me, too,” “LGBTQIA+” – have all been fueling this transition, with today’s savvy organizational leader acknowledging the impact of diversity both on their community and their bottom line.
