How companies worked to elevate small, diverse suppliers in 2020

Companies such as Walmart and Denny's utilized diversity, equity and inclusion principles to create new opportunities for small business.

Initiatives to bring historically underutilized businesses into the supplier base made ground in 2020, as some companies responded to the call to deepen their commitment to use diverse businesses in the midst of this year's pandemic and social justice movement.

Walmart held a virtual open call in October that featured "small business owners with products ... made, sourced or grown in the U.S."

Denny's continued to leverage its long-standing supplier diversity program to achieve overall diversity, equity and inclusion goals.

And Coupa announced an initiative to connect corporations and diverse suppliers through its platform — with transactions in network nearly at $2 trillion when the inclusion effort began.

Small businesses in particular have faced challenges from every angle during the coronavirus pandemic. Buyers utilizing supplier diversity programs has emerged as one way to aid small, minority-owned businesses.

Read the stories below for more insight on diversity programs in the supply chain.

 

Original Article: How companies worked to elevate small, diverse suppliers in 2020