Gainfront is an AI/ML-enabled platform that integrates seamlessly with ERP and procurement systems to reduce costs, strengthen supplier diversity, and help teams achieve Tier 1 and Tier 2 diversity spend goals.
Request a Demo
Explore key initiatives that help organizations strengthen supplier diversity and drive measurable impact.
Define structured supplier development strategies aligned with business objectives.
Monitor Tier 1 supplier diversity goals with consistent reporting.
Measure indirect supplier diversity performance across partners.
Identify new sourcing opportunities for diverse enterprises.
Establish processes that support minority supplier growth.
Track and report the economic impact of supplier diversity initiatives.
Stay ahead of industry benchmarks with annual performance reports.
Crafting Procurement Success with Supplier Diversity
Beyond the reputational and moral importance of inclusive procurement, incorporating supplier diversity in procurement has become a much-needed solution for every enterprise. An inclusive procurement strategy broadens the pool of potential suppliers and encourages competition in the supply base, which can enhance product quality and reduce unwanted costs. One barrier that businesses often identify as preventative to selecting more diverse suppliers is increased cost. Research shows that the benefits outweigh the cost. A 2015 study by The Hackett Group indicates Supplier diversity can add an average of $3.6 million to your bottom line for every $1 million in procurement costs. The need to Track Tier2 diversity spend is bringing procurement teams additional savings and achieving government goals and targets.
Request a demo to learn how Gainfront Diversity helps procurement teams build a robust diversity program and achieve Tier1 and Tier2 diversity spend goals.