preprints.org > business, economics and management > business and management > doi: 10.20944/preprints202407.0758.v1

Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Version 1 : Received: 9 July 2024 / Approved: 9 July 2024 / Online: 10 July 2024 (09:43:47 CEST)

Supplier diversity initiatives in procurement have emerged as strategic imperatives for organizations aiming to enhance competitiveness and foster socio-economic equity. This research investigates the impact of supplier diversity initiatives across various industries, analyzing implementation strategies, challenges, and outcomes through a mixed-methods approach. Qualitative data, including interviews with procurement professionals and case studies of exemplary organizations, reveal diverse approaches to implementing supplier diversity—from formalized programs with dedicated resources to ad hoc initiatives driven by regulatory compliance or social responsibility goals. Challenges identified include the identification and qualification of diverse suppliers, scalability issues, and internal resistance within procurement teams. Quantitative analysis of survey data highlights positive impacts on organizational performance metrics, such as procurement spend allocation towards diverse suppliers, supplier-driven innovation, and enhanced supply chain resilience. Best practices in successful supplier diversity programs underscore strategic alignment with overall procurement strategies, effective supplier relationship management, and strong leadership commitment. Socio-economic impacts encompass economic inclusion, community engagement, and skills development among diverse supplier networks, contributing to local economic growth and broader social benefits. Despite these benefits, challenges remain in measuring qualitative outcomes and overcoming systemic barriers to implementation. Cultivating an inclusive organizational culture and leveraging leadership support are crucial for sustaining supplier diversity efforts. Continued collaboration and innovation in supplier diversity practices are recommended to maximize benefits and drive meaningful socio-economic impact globally.

supplier diversity; procurement; organizational performance; diversity initiatives; supply chain resilience; economic inclusion; qualitative research

Business, Economics and Management, Business and Management

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