Continuing the momentum from our Minority Business Economic Forum earlier this month, McKinsey has published their latest insights on supplier diversity that was discussed at their session, “Business Diversity: The Future of Supplier Diversity.
Increasing the diversity of suppliers has become more urgent at a time when social issues strongly influence business growth. Governments and companies have focused for decades on boosting the diversity of their suppliers, and they are making significant progress in certain categories–namely, facilities management, construction, staffing, and food services. But in some of the fastest-growing segments of the economy, a gap remains.
McKinsey’s latest report offers a perspective on ways to close the gap. Expand diversity among your suppliers—and add value to your organization, discusses the current state of corporate programs, the economic and social impact of supplier diversity programs, and actions companies and minority-owned businesses can take to fuel growth going forward.