Report ties together supplier diversity and increased business opportunities – Construct Connect
October 23, 2024
A recent report indicates increasing supplier diversity can also enhance the bottom line.
The report from Supplier.io titled The 2024 State of Supplier Diversity surveyed over 350 supplier diversity stakeholders to examine how they implemented executive visibility, data accuracy and co-ordinating with environmental, social and corporate governance issues (ESG), as well as navigate economic and political pressures.
Supplier diversity is defined as a business strategy of incorporating diverse-owned business, suppliers and vendors into a company’s supply chain and vendor practices.
“Responsible sourcing is no longer niche — it drives innovation, strengthens global supply chains, and shapes the future of corporate sustainability,” Supplier.io CEO Aylin Basom said.
“Our research underscores that companies are not just investing in these programs, they’re using them as strategic levers to quantify impact, secure executive buy-in, and unlock new growth opportunities. This shift is about building businesses that are not only competitive and sustainable but also deeply committed to creating long-term value for all stakeholders.”
