This is the third post in a series looking at the key findings of the 2022 State of Supplier Diversity Report. If you are just joining us, here is what we have already covered:

In a recent post, I shared the first key finding of the 2022 State of Supplier Diversity Report: that company culture and workforce inclusiveness have become strong drivers for committed investment in supplier diversity. This is a major milestone for progress in the supplier diversity movement and one that deserves recognition and celebration. But it wasn’t the only interesting conclusion we were able to draw from this year’s survey results. 

The annual release of the State of Supplier Diversity Report offers endless opportunities for analysis and interpretation. With so much new data to compare to years’ worth of surveys, the only limits are time and imagination. When all the independent data points from the survey are brought together, compared to prior years, and considered carefully, a story begins to emerge.

This week, supplier.io released its fifth State of Supplier Diversity Report. This report is the continuation of an initiative that extends back to 2017 and reflects the growth and maturity of supplier diversity programs as well as the impact of overarching trends in the economy, geopolitics, and society.

When the economy is in growth mode, there are plenty of resources and opportunities to go around. When inflation and recession take over, businesses are forced to revisit their priorities. One of the most important considerations a leadership team will make is how to support their closest supply partners without putting their own financial stability at risk.