U.S. corporations have developed and implemented a variety of strategies to develop diverse suppliers. The strategies mutually benefit the bottom lines of corporate buyers and diverse suppliers.
-By Gerald Donald

Supplier Diversity and Inclusion (D&I) has moved far beyond a socially responsible concept to a process that directly contributes to the bottom line. Investing in supplier development and capacity building is a strategic business decision that acknowledges the diversity of markets and the important role of diverse suppliers in the supply chain in helping their corporate customers enhance competitiveness. Studies have already demonstrated the positive impact diverse supply chains have on companies, but there is a caveat.

Corporate leaders must recognize that intentional development of diverse suppliers, from leadership development to capacity building, is a critical strategy for maximizing the advantages of supplier diversity. It is als...