With an increase in information sharing and transparency, consumers everywhere can better examine the strengths—and weaknesses—of an organization's supply chain. In an era where purchases increasingly reflect values of inclusivity, sustainability, and ethical procurement practices, all it takes is one incident shared on social media to tarnish a brand's reputation. Companies that want to compete must rise to meet the challenge.
Though some view ethics and profits as mutually exclusive, savvy food, beverage, and supplements, organizations recognize inclusive sourcing improves efficiency and drives innovation. Shirking social responsibility can cut into profits, making it difficult to attract top talent, harder to innovate, and reducing customer loyalty.
An inclusive procurement strategy expands the supplier pool, promotes healthy competition, improves product quality, and reduces costs. And with more sourcing options, supply chains become more resilient and agile — a significant advantage during uncertain times.
Creating a supplier diversity program has its challenges, and even established programs continue to fight for a seat at the procurement table. Connecting with minority-owned vendors that comply with a buyer's procurement requirements is another reoccurring obstacle. To reach economic equality, companies must make inclusion programs a priority and find ways to remain accountable
Watch this on-demand webinar to learn proven techniques to build a more inclusive supply chain. Our panel of supplier diversity and inclusion experts includes Archer Daniels Midland Supplier Inclusion Manager Veronica Johnson and Barilla Supplier Diversity Program Manager, Angenetta Frison.