How Supplier Diversity Webpages Can Open the Window to Opportunity

The Northeastern Lab for Inclusive Entrepreneurship recently hosted a webinar to discuss the Lab’s recent research report, “Addressing the Supplier Diversity Awareness Deficit: The Role of Higher Education Procurement Websites.”

The panel discussion featured Veronica Cook, Executive Program Director, Supplier Diversity, University of Connecticut, and Allen Riddick, Executive Director of Economic Impact & Workforce Inclusion, Drexel University. Cook and Riddick, both of whom have developed successful supplier diversity programs at their universities, shared their views on how supplier diversity webpages can reduce the awareness deficit that hinders many diverse businesses from accessing this enormous market for products and services.

Allen Riddick

Executive Director of Economic Impact & Workforce Inclusion, Drexel University

Here are five key takeaways from the discussion:

1. Webpages are a starting point: The purpose of supplier diversity webpages is to serve as a ‘window’ into doing business with colleges and universities by helping providing clear and simple steps on how to engage in the procurement process.
2. Connecting businesses with university buyers: The webpages are designed to connect diverse businesses with contract opportunities, ensuring that they can engage and establish relationships with the right individuals responsible for purchasing decisions.
3. Online education and partnership: The focus of supplier diversity webpages is to educate diverse small businesses about the procurement process and making them partners in the supplier diversity initiatives. They provide information, support, and follow-up to help businesses navigate the complexities of working with large institutions.
4. Simplifying complexity: Higher education procurement can be decentralized and complex. The goal is to break down the process, provide transparency, and help diverse businesses understand where to start and who the key decision-makers are in various departments.
5. Underscoring the value of doing business with diverse suppliers: Supplier diversity webpages can highlight the value diverse businesses bring to the table. They are often more agile and responsive, with the ability to provide unique products and services. By expanding the pool of businesses and increasing competition, supplier diversity strengthens procurement programs.

Overall, the discussion emphasized the importance of supplier diversity webpages as an educational resource, connecting diverse businesses with buyers, simplifying the procurement process, and recognizing the value of increasing the pool of diverse suppliers.

To access the Lab’s research findings (“Addressing the Supplier Diversity Awareness Deficit: The Role of Higher Education Procurement Websites”), including examples of best practices, click here.