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The Difference Between Tier 1 and Tier 2 Supplier Diversity Spend

Companies privy to the importance of implementing a Supplier Diversity Program seek to expand their programs to include both Tier 1 and Tier 2 spends. So what is the difference? Let me break it down a bit today.

Supplier Diversity: What & Why

We all know that supplier diversity is important, right? But ask yourself … do you really know exactly what that entails and more importantly, do you understand WHY it’s so vital for a percentage of a company’s annual spend to be centered on diverse suppliers? Simply put, a supplier diversity program is a business program that proactively encourages the use of minority-owned, women owned, veteran owned, LGBT-owned, service disabled veteran owned, historically underutilized business and Small Business Administration (SBA)-defined small business concerns as suppliers. Okay, that makes sense, right? But what’s this all about and why is it important?

Next Gen Interview: Where is the Relocation Industry Headed?

Several years ago at an annual Worldwide ERC Conference I met Aurora Hughes. She is such an interesting young woman who has been in and around the relocation industry her entire life. She is filled with enthusiasm about relocation, so  she was one of the first people who came to my mind when I thought about writing a post about what the up and coming generation of leaders think about the future.

Supplier Diversity is Not a Function of HR

I know, I know. So, why am I bothering to tell you about it? Well, we’ve been covering a lot of supplier diversity topics lately and I think this is an important point to make. Supplier diversity is not a function of HR BUT that does not mean that HR can’t embrace supplier diversity as an option when looking to outsource projects. What is does mean, however, is that there is a fine line between selecting a  supplier because they are diverse and  selecting a supplier because they are the best and happen to be a diverse supplier.

What’s the Difference Between a Tier I and a Tier II Supplier Diversity Spend?

As many know, XONEX Relocation is proud to be certified by the Women’s Business Enterprise National Council as a Women’s Business Enterprise. I’m lucky enough to get to go to all the conferences. It’s a great group of people and we learn a lot from each other about supplier diversity and its impact on organizations. As such, I get asked a lot of questions about Tier I and Tier II supplier diversity spending in organizations. So much so that I recently wrote a whitepaper on supplier diversity trends. We received a lot of good feedback and it dawned on me that a blog post on Tier I and Tier II spending would be of interest to our blog readers. 

Free Whitepaper: Why Supplier Diversity Matters

Why-Supplier-Diversity-MattersWe hope everyone had a nice long weekend. This week, we are pleased to announce our latest whitepaper: Why Supplier Diversity MattersTimes have certainly changed since supplier diversity programs began to take hold in the U.S. and never has supplier diversity been stronger or more positive than it is today. More people than ever are committed to making supplier diversity networks work. Are you on board?

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MIKE CANNING
VP, Client Services

RICK CALANNI
VP of Business Development Northeast Region

 

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