Supplier Diversity Best Practice Module Fact Sheet
The Supplier Diversity Best Practice Module (Supplier Diversity Module) which is free for suppliers, has been developed by givvable’s team of sustainability experts and based on global best practice indicators.
Suppliers that have completed the module earn a tag for their profile, boosting visibility in corporate and government procurement processes.
1. What is Supplier Diversity and why is it important?
Supplier diversity refers to sourcing goods and services from diverse suppliers.
Definitions of diverse suppliers differ from country to country; however, they often include businesses owned by diverse and underrepresented populations, including women, veterans, LGBTQI+, people with disabilities, minorities and Indigenous Peoples, as well as disability enterprises, social enterprises, Certified B Corporations, charities, small, local and regional businesses.
More and more businesses and governments are putting in place Supplier Diversity programs and targets, recognizing the benefits of Supplier Diversity for themselves and their stakeholders.
Supplier Diversity programs can:
- increase supply chain competitiveness and resilience
- drive innovation
- save costs
- improve brand reputation
- support talent attraction and retention
- create widespread social and economic impacts
- contribute to the UN Sustainable Development Goals, in particular SDG 12 (Responsible consumption and production) and SDG 17 (Partnerships for the Goals) (UNGC)
2. What is the 'Supplier Diversity - Best Practice Module' and why should I do it?
givvable’s Supplier Diversity Module includes a series of best practice indicators for effective Supplier Diversity policies and practices.
The Supplier Diversity Module supports organizations to:
- Understand the policies and practices that reflect best practice and demonstrate to customers that they are taking action to build awareness. Businesses and governments screening supplier profiles will be able to identify whether a supplier has completed this Module.
- Identify areas of alignment with best practice as well as gaps and opportunities for improvement.
- Complete a self-assessment that can be provided (with consent) as part of givvable’s Best Practice Assessment, to their customers (see section 3 below).
3. How will my responses be used?
givvable provides automated Best Practice Assessments on suppliers, which are automatically populated based on a supplier’s credentials. Where a supplier does not hold credentials, or where the credentials cover some, but not all, of the best practice criteria, the Best Practice Module can supplement automated assessments with the consent of the supplier.
givvable seeks consent from each organization completing the module before using its responses to supplement an automated assessment of its business.
Organizations that complete the Supplier Diversity Module will receive a ‘givvable: Supplier Diversity – Best Practice Module’ tag, which will appear on their givvable profile until the end of the following calendar year.
4. Where can I find more information on Supplier Diversity?
Download givvable’s Insights with Impact webinar on Doing Supplier Diversity Differently to hear from CEOs of WEConnect International (women), Get Skilled Access (disability inclusion) and QIBN (Indigenous) on how to implement a successful program. You can download the webinar here.
Download givvable’s simple checklist and ‘how to’ guide and learn how to implement a successful supplier diversity program or take yours to the next level. Pinpoint areas of improvement and get practical tips. You can download the checklist here.
5. How can givvable help?
givvable can help you implement a successful Supplier Diversity program across all diverse groups:
- VET search and discover up to 30x more diverse suppliers across more spend categories using our easy-to-use, on-demand supplier look up tool, VET – start free.
- SCREEN your existing suppliers and uncover suppliers with diversity attributes in your current network. Use givvable’s pre-built supplier diversity dashboards or build your own based on your program’s scope or definitions. Book a demo today.
- TRACK your impact. Report supplier diversity to meet your objectives. Track improvements and uncover opportunities across categories of spend. Book a demo today.
- ENGAGE your suppliers using givvable’s free Supplier Engagement Portal. Suppliers can self-identify as a diverse supplier and learn how to get formal recognition of their diversity attribute(s) - register free.
Want to learn more? Contact us.