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Metrics For Supplier Diversity

oboloo Glossary

Metrics For Supplier Diversity

Metrics for Supplier Diversity in procurement involve measuring key performance indicators (KPIs) necessary to ensure a balance of goods and services provided by diverse suppliers. This includes but is not limited to: the number of goods or services procured from minority-owned businesses, the value of supplier contracts granted to women- and disabled-owned firms, the percentage of staff diversity and how that affects the success rate of contract negotiations. These metrics can help organisations better understand their level of economic inclusion, and track progress towards meeting their short and long-term targets. Having these insights at hand can empower companies to make smarter purchasing decisions and increase economic growth for the most marginalized communities.

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