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Supplier Diversity Blog by supplier.io

supplier.io Publishes Industry-First State of Supplier Diversity Reports

Supplier Diversity Technology Leader Interviewed Industry Professionals, Diverse Businesses to Generate Pair of Revealing Reports

state-of-supplier-diversity-thumbnail.pngA leading provider of supplier diversity technology, data, and services, supplier.io, today announced the results of two supplier diversity surveys it conducted earlier this year, creating the first annual State of Supplier Diversity Reports. Reports examining the results of these surveys can be downloaded here.

Supplier diversity is at a unique crossroads in 2017. The supplier diversity concept is firmly entrenched in the corporate landscape, but the potential for such programs continues to grow. We set out to discover what supplier diversity professionals are experiencing with their own programs, as well as how diverse businesses are navigating the current supplier diversity environment. The results, culled from responses from 145 supplier diversity professionals and 277 suppliers, provide an insightful glimpse of the state of supplier diversity. Among the findings:

  • Corporate responsibility was identified as the top driver of supplier diversity programs; alignment with corporate culture and workforce inclusiveness came in second.
  • A quarter of supplier diversity professionals rate their programs as very effective; another 44 percent say their programs are somewhat effective.
  • Only 15 percent of supplier diversity professionals measure the economic impacts of their programs.
  • More than a third (34 percent) of responding professionals have a formal supplier development program.
  • Of the respondents, 90 percent of both minority-owned businesses and woman-owned businesses are certified.
  • Eighty-two percent of diverse businesses employ fewer than 100 people.
  • More than half of responding suppliers say at least a quarter of their business is with Fortune 1000 companies.

“We know supplier diversity is important for companies, but there is opportunity for improvement, both for supplier diversity programs and the suppliers they seek to employ,” says John Suarez, Marketing Manager for supplier.io. “We conducted these two surveys to benchmark the current state of supplier diversity, giving supplier diversity managers and diverse suppliers tangible, useable insight. The data we received was enlightening, and the opinions that respondents offered illustrate where supplier diversity is and where it is heading.”

For additional information about these reports, please visit our website.

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The team has a long history in driving innovative solutions in supplier diversity. We believe that companies deserve solutions that are effective and provide measurable value and results. Started more than a decade ago, supplier.io has rapidly become a prominent provider of supplier diversity solutions to leading corporations. We currently support customers in automotive, healthcare, insurance, retail, manufacturing, education, and banking. One in five Fortune 50 company relies on supplier.io.