Why is supplier diversity important?
Supplier Diversity legislative requirements are often complex and burdensome to meet and vary from country to country depending on the implementation adopted by the government bureaucracy. Chances are your enterprise will have to meet them at a considerable cost of time, money and effort if you try to implement them internally. Alternatively, you can outsource the problem to Transformify and let us deliver a “win-win” relationship.
Transformify is 2017 First Women Award Winner and a certified women-owned enterprise.
On the positive side, there is a strong business case for adding value through supplier diversity presented in more detail below.
On the negative side, there are some case studies about the complexities and various stages of implementation of supplier diversity legislation, supplier diversity policy, and the compliance burden placed on business in the U.S., the European Union, U.K., France, Germany, and Sweden.
Working with Transformify, an international award-winning women-owned enterprise already satisfies all of these requirements, so you don't have to jump through the hoops. We have already invested heavily, obtained supplier diversity certification, designed and implemented the solution which is ready to use for you.
Transformify satisfies employees’ demand for flexible working conditions, telecommuting and working from home one day per week or working remotely entirely.
Transformify offers a reach to 3 continents and 150+ countries, now advancing in Asia through South Korea.
Transformify uses powerful matching algorithms to match awesome people with exciting jobs, decrease the chances of a ''Bad Hire'', and speed up the recruitment process.
HR-Tech + FinTech + AI, meet Transformify's innovative solution.
A survey shows that in the US a vast majority of women are more likely to buy from a business whose suppliers are women-owned enterprises.
Transformify as a certified women-owned business helps satisfy the complex and burdensome legal requirements for supplier diversity.
Utilise Transforify's CSR recruitment platform to hire awesome people and do good to the society at large.
Transformify contributes to the goal of reducing CO2 emissions by minimizing the daily commute to work.
Creating jobs for disadvantaged people supports the sustainability and growth of the economy.
The full process automation and good relationship with payment providers allow Transformify to offer competitive prices.
Implementing supplier diversity at a single company level is a significant challenge. A successful implementation requires a significant investment in effort, time and money which can be reduced by utilizing Transformify CSR recruitment platform.
The most advanced supplier diversity legislation has been adopted in the US, originally started with President Kennedy and the Civil Rights movement in1961, and modified multiple times; the Nixon Executive Order (E.O.)11458 from 1971 created a federal Office of Minority Business Enterprise (OMBE); Nixon's E.O. 11625, directed federal agencies to develop comprehensive plans and specific program goals for a national Minority Business Enterprise (MBE) contracting program; and still evolving. By far, this is the most extensive and sizable by impact and results supplier diversity legislation.
EU procurement legislation - two directives adopted to various degrees among EU countries as described below (Directive 2004/17/EC and 2004/18/EC.
UK procurement legislation:
French procurement legislation:
German procurement legislation:
Swedish procurement legislation:
Overall there is no one universal fit-all solution so lessons learned are not easily transferable from country to country and from organization to organization.
Transformify meets the need for a solution, that is flexible, innovative and keeps up with the evolving legislation.
Transformify takes pride in assisting its partners in developing their Corporate Social Responsibility Programs by creating jobs for people disadvantaged by living with a disability or diagnosed with autism, in remote or isolated living areas, high unemployment areas and war-torn countries, by working remotely. Transformify is highly interested in providing talented people in the dynamic IT sector working with the latest technologies but is far not limited to one sector alone like back office and administrative, call center and professional accounting and financial services industries.
While sounding similar, supplier diversity is not directly related to supply chain diversification. Its focus is to make the most of the previously under-utilized suppliers and reflect the demographics of their customers in their markets and creates value by helping sustain and progressively transform a company's supply chain. It allows large companies like Johnson & Johnson to tap into latest ideas of small innovative suppliers and add value through innovative solutions in marketing, manufacturing and research & development.
Not surprisingly women-owned business enterprises are historically among the fastest growing in the U.S. With an economic impact of about $3 trillion annually and employing 23 million people, 16% of all US jobs in 2009 according to the Centre for Women's Business Research data have been created by women-owned enterprises. The figures prove that women-owned businesses are not a small niche market but a major contributor and player in the overall economy.
Supplier diversity programs have helped companies like Johnson & Johnson, Intel, The Coca-Cola Company, and Google to achieve their business objectives while strengthening their position in the community and with their customers. Working with Transformify can do that for you.
You may already have a Supplier Development Program, like The Coca-Cola Company, focused on connecting with and nurturing the growth of diverse suppliers and STEP Supplier Training for Women Business Owners.
Do you, like them, have a commitment to diversity and need to satisfy the legal requirements for supplier diversity? If so, contact us to discuss what Transformify can do for your business’ social and financial goals.