Supplier Diversity Is Good for Everyone, Here’s Why

In a previous post we shared why diverse suppliers is good business. You can read that post here: https://powerwrighttech.com/strength-in-diversitylarge-corporations-find-working-with-minority-owned-firms-is-good-business/

As a Minority Business Enterprise (MBE) we believe in bringing people together who share different perspectives, backgrounds, experiences, and ideas. This is one of the many things that makes us unique as a full-service Engineering and Construction/Project Management firm. After over a decade of delivering value-added design solutions for electric utilities and other industries, we’ve learned that there is strength in diversity.

The proverbial “win-win” scenario can be an elusive goal in the business world, where, competition being what it is, someone’s gain is someone else’s loss.

But that’s not true in the world of supply chains. These networks of interdependent companies are becoming both more complex and more pervasive–it’s not uncommon for even the smallest of start-ups to forge critical supply-chain partnerships with other firms from Day One.

As they do, many are following the lead of large, long-established companies by ensuring that their supply chain networks are as diverse as possible. Simply put, that means looking for companies (typically, small companies) owned by veterans, women, people with disabilities, or others who have historically been underrepresented in the world of suppliers. It can also include efforts to tap suppliers who are based in economically disadvantaged regions of the country.

view the full article on Inc.com: http://www.inc.com/branded-content/lockheed-martin.html

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