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Diverse supply chains 'can offer business benefits'
Consideration of diversity issues in procurement planning can provide a number of tangible operational benefits to businesses.
This is according to a new issue brief from charity group Business in the Community (BITC), supported by outsourcing firm Mitie, calling for firms to make an effort to work with suppliers with strong minority representation.
It was observed that diverse suppliers tend to be small, agile and independent companies, bringing greater flexibility to the supply chain and helping to avoid common business risks.
Meanwhile, taking a socially responsible approach to supply chain issues can also help managers to meet targets set by shareholders.
Jo Daniels, marketplace director of BITC, said: "Supply chain diversity provides a tangible way for businesses to forge stronger links with communities, whilst at the same time creating business benefits."
Earlier this month, a report from Efficio suggested that companies that neglect to emphasise the importance of supply chain issues are likely to see increased costs later down the line.
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Categories: Functional Practices