Most Supplier Diversity Programs Fail to Deliver (CIO Update)
While world-class procurement organizations continue to outperform their peers in driving supplier diversity spending according to a new study by The Hackett Group. The study identified several critical ways that most companies fail in their supplier diversity programs.
Hackett’s latest research found that companies with world-class procurement organizations commit 33% more of their spend to diverse suppliers (13.3% of total spend for world-class versus 10.0% for typical companies). But according to Hackett’s research, most companies still make major errors in how they operate and measure the performance of their supplier diversity efforts. Most rely on overly simplistic measures to evaluate the progress of supplier diversity programs, and never truly assess whether programs are meeting corporate objectives.
Most Supplier Diversity Programs Fail to Deliver (CIO Update)Tags: mbe, minority owned business, mwbe
