14 May Understanding supplier diversity in the US and inclusive procurement in the UK
The US has proven to be a real differentiator of workforce diversity and market place diversity when compared to the UK. The whole concept around supplier diversity is a well-entrenched phenomenon and one which has been around for the past forty years.Completely in tune with an understanding of the richness that comes from embracing diversity within supply chains, the US has seen thriving social and economic impact to bear on their organisations, putting them in the lead with a commercial edge amongst their competitors around the world.
On a trip to the National Minority Supplier Development Council’s annual conference (NMSDC) in 2002, Mayank Shah unexpectedly partnered up with NMSDC to create the Minority Supplier Development United Kingdom we now know as MSDUK. As an executive member of MSDUK, it was interesting to see how supplier diversity featured and flourished in the US and how it could be leveraged to enable the sharing of best practice in the UK.
Supplier diversity is a concept which allows organisations to introduce innovation and to really strive for business growth; it is now completely standard and embraced by corporate America. Now this is something that requires further showcasing here in the UK as supplier diversity is a business imperative that needs a bigger platform.
According to MSDUK, “54% of corporate members believe that there is a strong link between supplier diversity and new business development”. The fact that this is a growing reality which is not essentially recognised or adopted here in the UK, demonstrates a sense of short sightedness to those innovative businesses who are essentially speeding up ahead as they have witnessed the benefits of invigorating their supply chains. Different perspectives, backgrounds, religions and cultures provide a prosperous mix which disrupt, invigorate and bring about better yields. This in turn translates into better commercial outcomes for organisations.
One of the greatest reasons to promote supplier diversity is to help support the economic base of the communities in which they do business. MSDUK has been pivotal in connecting businesses and making a reality to many organisations the positive effects of inclusive procurement. Small businesses are fuelling the UK economy forming over 93% of all private sector businesses and employing over 15.2 million people. Therefore it is important to incorporate an evidence based approach to motivate and drive inclusive practice in the UK.
At Contracts IT, we enable and facilitate greater success, competition and attainment by stimulating different behaviours, different types of leadership and different attitudes. This we incorporate into our recruitment process and integrate with the recruitment strategies of our clients. What we do is simple. We are championing difference in the world of technology recruitment. We believe it is what makes organisations stand out amongst their competition and the best place to be able to meet the challenges of the future.