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4 Reasons Why Supplier Diversity Is Your Competitive Advantage

March 1, 2014

What is Supplier Diversity?

 

Supplier diversity is a business program that encourages the use of diverse, women, veteran owned, and other SBA defined small business vendors as suppliers.Supplier diversity presents an opportunity for companies to gain a competitive advantage in communities near you by partnering with key stakeholders. 

 

4 Reasons Why Supplier Diversity Is Your Competitive Advantage

 

1) Provides a unique insight into emerging businesses

Are you looking for the next big thing? Is your boss tired of hearing the same companies that have continued to fail them in the past? How do you find these unknown, on the rise companies? Time to look elsewhere! Who knows, the reliable business you are looking for might be small and owned by a hard working woman located in Minnesota.

 

2) Enhances your supply chain

Businesses are always looking for ways to improve, upgrade, and refine their company. Enhancing your supply chain practices will save you money!

 

3) Builds a loyal customer base

Majority of the companies that meet the supplier diversity criteria need your loyalty just as much as you need theirs. This creates an equal understanding of the importance for each business. 

 

4) Creates wealth in the communities where you do business

Similar to businesses, if you are actively involved in your community you should strive to improve the quality of life. Improving the quality of life can vary depending on the community. It can mean many things such as providing more jobs, creating a better school system, or a safer environment. Creating wealth in the community where you do business benefits you because you benefit others. Life is full circle. 

 

Faciltiy Sourcing Direct understands the challenge to finding reliable and qualified supplier diversity businesses. Interested in knowing How Facility Sourcing Direct Satisfies The Supplier Diveristy Needs For Your Company? Check out our About Us! 

 

Thanks for reading!

Jordan

 

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