Supplier Diversity

Companies have noticed the financial benefits of tailoring products to Latino consumers’ needs and increasing employee diversity, but recent findings suggest that supplier diversity remains neglected—an issue that needs attention if corporations are to remain competitive in a changing economy. Much like employee diversity, supplier diversity is a business imperative that allows companies to grow their consumer base, develop community relationships, and strengthen brand presence among potential customers and partners. This report determines if companies are leveraging the growing presence of Hispanic-owned businesses in the supplier market and offers recommendations for increasing the utilization of these vendors.