Supplier diversity programs offer access to innovation, new markets, and localized socioeconomic impact. And yet - despite all of these benefits - most public sector entities have yet to make a persuasive and actionable case for diversity.
There are several obstacles preventing governments from realizing the value potential and cost savings associated with supplier diversity. For instance, a preference for known suppliers and the complexity associated with onboarding new suppliers are just two barriers that limit the potential supplier pool.
As unprecedented levels of Federal funding become available, it is more important than ever that part of these resources are used to support diverse suppliers and build communities in alignment with federal and state stipulations.
Sean Correll, Head of Ivalua’s Public Sector team, and Jarrod McAdoo, Senior Product Marketing Manager at Ivalua recently joined Art of Procurement for an AOP Live session. In this podcast version of the event, host Philip Ideson asked Sean and Jarrod questions about:
Making public sector supplier diversity discovery, onboarding, and management easier through fit-for-purpose digital procurement technologies The need for effective contract administration in response to new and changing regulations and legislation The advantage associated with making specific diversity spend commitments to incentivize municipalities and agencies to work with new suppliers and therefore drive innovation