VALUE OF DIVERSITY FOR OUR CUSTOMERS
Increasingly, organizations now understand that having a diverse supplier base isn’t just the right thing to do from a social point of view; it’s also good for business. There are several reasons why.
One is the need to build trusted relationships with their own customers and staff. People now expect organizations to do more than just turn a profit. Instead, they want them to have a positive impact on society too – a trend that’s been accelerated by the events of the past year. Working with CDW’s network of diverse partners is a way for companies to meet those expectations.
A diverse supply chain is also a great driver of innovation, giving companies first-mover advantage on cutting-edge technologies developed in the small business community as well as access to more competitive pricing. Perhaps most importantly of all, diversifying their supplier network helps organizations boost resiliency and agility in today’s unpredictable world. As we see in the next slide, small businesses continue to provide the backbone of the U.S. economy – and a rising percentage of them are owned by minority groups, women, LGBTQ+ people, those with disabilities and veterans. These small and diverse businesses will therefore be a key driving force behind our nation’s recovery from the pandemic.
By making it easier and more cost-effective than ever for our customers – both new and existing – to spend with those firms, we’re doing far more than simply helping them secure their own bright future. Against a backdrop of disruption and uncertainty, we’re also having a meaningful impact on the economic recovery and wellbeing of individuals, communities and businesses all over the U.S. That makes us very proud.
David Hutchins,
Vice President, Strategic Programs
CDW’S commitment to diversity excellence is critical to our customers’ success and to the U.S. economy’s recovery from the pandemic.
When we secure opportunities for organizations to purchase goods and services from small and minority-owned businesses and suppliers, we create relationships that benefit our customers, our partners and the U.S. economy as a whole.
99.9%
of all U.S. firms are in the small business category 1
50% +
of U.S. small businesses are women- and
minority-owned 1
47%
of consumers say whether or not an organization has a Business Supplier Diversity Program influences if they buy from it 3
65%
of total new jobs were generated by small businesses in the last
20 years 1
Companies with more women on their executive boards are 25% more likely to financially outperform their less diverse peers. For companies with more ethnically diverse boards, this likelihood rose to 36% 4
50%
of the 2 million new businesses started in the U.S. in the last 10 years are minority-owned 2
25% - 70%
improvement in various bottom line metrics for firms with Supplier Diversity Programs 5
Minority Entrepreneurs, U.S Senate Comitte
CVM Solutions: The 2019 State of Supplier Diversity
Why diverse suppliers hold the key to business resilience, Reuters
Hootology Corporate Diversity Index 2019
Until recently, the main driving force behind Business Diversity Programs was the White House. Yet while the federal government continues to be the single largest customer for small and minority-owned businesses, it’s by no means the only one.
Increasingly, organizations are recognizing the potential of a supplier base that’s intelligent, safe, secure and diverse — whether through greater market share among emerging customer segments, faster innovation cycles, increased resilience, enhanced brand loyalty or improved talent retention.
As a result, many are now setting diverse supplier goals as part of their overall business metrics. Often, responsibility for delivering against those goals rests with procurement departments, which represents a powerful opportunity for our network of small and minority-owned partners and our customers.
By connecting CPOs and their teams with the right diverse supplier at the right time, we help establish partnerships that create lasting value for all parties – financially, operationally and reputationally.
Byron Holden,
Vice President, Procurement
