Supplier Diversity is a business program that encourages the use of: diverse-owned, women owned, veteran owned, LGBT-owned, service disabled veteran owned, historically underutilized business, and SBA defined small business vendors as suppliers. It is not directly correlated with supply chain diversification, although utilizing more vendors may enhance supply chain diversification.
Diverse- and women-owned business enterprises are among the fastest-growing segments of the U.S. economy. diverse-owned businesses generate an (1997) estimated $495 billion in annual revenue and employ nearly 4 million workers, while women-owned firms employ about 19 million people and generate $2.5 trillion in annual sales.
Veteran-Owned (VOB) and Service Disabled Veteran-Owned Businesses (SDVOB) are some of the most prominent group on the American entrepreneurial landscape and being sought after by corporate supplier diversity directors. There are over 25 million veterans in this country; or roughly 1 in 5 adult males. 1 in 7 small businesses are owned by a veteran.
Famous quotes containing the words supplier and/or diversity:
“Nature is not so much her own ever-sweet interpreter, as the mere supplier of that cunning alphabet, whereby selecting and combining as he pleases, each man reads his own peculiar lesson according to his own peculiar mind and mood.”
—Herman Melville (1819–1891)
“The diversity in the faculties of men, from which the rights of property originate, is not less an insuperable obstacle to a uniformity of interests. The protection of these faculties is the first object of government.”
—James Madison (1751–1836)