Supplier Diversity Does Not Drive Increased Costs

According to a study by the Hackett Group, a strategic advisory firm, world-class procurement organizations that turn to women- and minority-owned businesses don’t sacrifice savings. Some leaders even see the role of supplier diversity in driving revenue growth. Increasing the reliance on women- and minority-owned businesses as suppliers does not cost leading procurement organizations more. In fact, cutting-edge companies find quite the opposite is true, and are finding ways to use supplier diversity to drive new sources of revenue. Hackett’s research showed that world-class procurement organizations which focus heavily on supplier diversity don’t sacrifice procurement savings to do so. Addi

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