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Supplier Diversity Blog by supplier.io

Product Updates - March 2021

What's new at supplier.io this year?

A whole bunch of new product updates to make your supplier diversity journey smoother. Our tech-team has been working on these awesome updates with inputs taken from our customers, prospects, industry trends to come up with cutting-edge updates for the following products - Tier-2 Reporting Unitier, Supplier Explorer, Supplier Registration.

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Global Supplier Diversity

As U.S.-based companies extend their reach beyond our country’s shores, Supplier Diversity Program Leaders are being challenged to think critically about how their programs impact underutilized businesses across the globe.

According to Goldman Sachs, U.S.-based S&P 500 companies earn 33% of their revenue and 40% of profits from outside of the U.S. Similarly, the U.S.-based companies have seen a shift of sources of supply overseas.

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How Supplier Diversity is Going Global

Let’s cut right to the chase: The United States is the global leader in supplier diversity. 

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Global Supplier Diversity: How Going Global Helps Diverse Businesses

One of the key acknowledgements of our supplier diversity programs is that there is a pool of suppliers out there full of untapped potential because they do not have access to the same opportunities that their majority-owned counterparts do. Five decades of work towards equality and equity for the United States-based diverse suppliers is paying off, allowing us to focus on an even bigger picture: global supplier diversity and the enormous potential of diverse suppliers outside the U.S.

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Stories From the Front Line: Selling Your Supplier Diversity Program

Before we deep-dive into this topic, here are a few questions you need to ask yourself with respect to your company’s supplier diversity initiatives: 

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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.