“Unlocking Supplier Diversity”
Overview
Supplier diversity programmes are becoming a core part of business strategy - not just because diversity and inclusion is the right thing to do, but because there are significant commercial benefits to be gained. Yet procurement teams struggle to unlock the value that diverse suppliers can bring.
When it comes to delivering the expected value of supplier diversity, existing and well established procurement policy, processes and approaches can hinder rather than help to realise the strategic objectives of diversity & inclusion: Sourcing methods struggle to find diverse suppliers, RFx led sourcing projects put (apparently insurmountable) barriers in a would-be suppliers way and overly controlling supplier governance stifles any agility, creativity an enthusiasm that a so-called diverse supplier could bring.
But it doesn’t have to be like this. In this learning programme portray the procurement experience from a diverse supplier viewpoint to reveal and explain how to refocus sourcing, contracting, on-boarding and life-cycle managing diverse suppliers.
Suggested participants
Because we take a total lifecycle approach to supplier diversity, this training is relevant to a wide range of procurement audiences, including category managers, sourcing specialists and supplier managers.
Duration
This training is available in both on-site and instructor-led virtual delivery formats:
- On-site workshop: 1.5 days
- Virtual delivery: 6 x 90 minute instructor led webinars.
Benefits delivered
- Run sourcing projects that allow diverse supplier value to be understood and evaluated alongside traditional ‘safe’ options.
- Manage diverse suppliers in a way that recognises and accommodates their needs, so that barriers to the full potential value of the supplier are removed.
- Access ‘customer of choice benefits’ through how you engage and partner with your diverse suppliers.
Learning objectives
As a result of completing this training participants will be able to:
- Translate diversity & inclusion strategy into procurement objectives and target benefits for driving supplier diversity.
- Describe a range of characteristics that are typical of a diverse supplier in terms of their business maturity and operation characteristics.
- Identify and develop an appreciation of the barriers that diverse suppliers may face when taking part in procurement led sourcing initiatives.
- Develop and implement changes to how sourcing projects are structured and run (from project set-up, market research, shortlisting and selection to negotiation and contracting) so that diverse suppliers can compete and be considered fairly and equitably.
- Describe and discuss the challenges that are faced by diverse suppliers that make it through the selection process.
- Review and revise how diverse suppliers are on-boarded and managed so that traditional areas of focus such as performance and risk management are balanced with activities that nurture and grow the suppliers’ ability to deliver value.
- Examine and implement changes that consider the implications of contract termination with a diverse supplier and what this means for doing business responsibly.
- Adopt and use the behaviours and soft-skills that are needed to help diverse suppliers build business maturity and so strengthen their resilience.
Course Content
Because this training takes a whole-lifecycle approach to supplier diversity, the content is structured into three parts, as follows:
Part 1: The business context of supplier diversity:
The pluralistic nature of diverse suppliers and the common characteristics that diverse suppliers have in common. How traditional procurement and supplier management practices need to change in order to access the value of diversity.
Part 2: Supplier diversity and strategic souring:
Refining the sourcing model and engaging diverse suppliers in a constructive, open and unbiased way from sourcing to contracting.
Part 3: Managing diverse suppliers:
Conducting on-boarding and management in a way that nurtures the value that diversity brings to the business-to-business relationship. Implementing off-boarding in a way that considers and protects both the short and longer term interests of both parties.
Throughout the course, the all- important behavioural and soft skills that are needed for working with diverse suppliers are addressed in context, for example when writing requirements, defining selection criteria, negotiating, giving feedback right through to being a, effective business coach during the manage phase of a relationship.
How is it delivered?
To make this training relevant and easily embedded, our approach is to examine the strategic sourcing lifecycle through the eyes of a diverse supplier – every difficulty they face, every barrier they have to overcome as a result of procurement and supplier management actions and behaviours are considered from the suppliers’ vantage point and challenged to identify a better way: Not just for diverse suppliers, but for all suppliers.
Our delivery model for this training uses three engagement activities:
Workshop: Interactive, structured instructor led discussion and practice (virtually or in-person).
Application: Students apply course content to the job by completing a defined set of assignments, which will lead to the development of a refreshed sourcing and supplier management model that is diverse supplier friendly.
Coaching: To accompany the assignment activities we provide 1:1 support coaching to each course participant.
What you will get?
- To support the instructor led workshop, this course also includes:
Course reference materials. - Supplier diversity checklists and templates.
- Access to individualised coaching.
Leading global bank chooses State of Flux as a training partner
Training enhances stakeholder engagement and adds value to leading global bank.
Operating a complex and regulated environment, our client focuses on increasing value and managing risk in its supply chains through investing in SRM training.
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