Supplier diversity isn’t a new concept, but it’s one that has come into sharp focus in 2021. Companies are entering 2021 with a new and expansive definition of diversity that ensures their supply chains include goods and services from a diverse base of historically underrepresented minority, disabled, veteran, LGBTQ, and woman-owned businesses. Companies that serve diverse markets globally know that supplier diversity initiatives are a critical competitive advantage, helping to mitigate risk across supply chains, win new business, retain customers, and reinforce brand reputation.
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