Supplier Diversity Program
Business TermsDefinition
A proactive business program that promotes the use of diverse-owned businesses in an organization's supply chain.
More Information
Supplier diversity programs include policies, processes, and resources to identify, develop, and do business with diverse suppliers. Programs typically include registration portals, matchmaking events, capacity building initiatives, and spend tracking. Most Fortune 500 companies have formal supplier diversity programs.
Example
A company's supplier diversity program hosts quarterly networking events connecting certified diverse suppliers with category managers.