The strategy focuses on enhancing supplier diversity by implementing regional-specific initiatives in the US, UK, Canada, and Australia. In the US, executive orders are leveraged to identify and partner with small to medium-sized businesses and create supportive policies. For example, diverse supplier networks are engaged through webinars and advocacy groups, emphasizing compliance and education.
In the UK, the Procurement Act opens opportunities for supplier diversity by establishing mentorship programs and hosting networking events. Successful case studies are highlighted to replicate diversity achievements. Meanwhile, in Canada and Australia, the Indigenous Procurement Policy is prioritized, allocating contract percentages to indigenous suppliers and engaging local communities.
The strategies
⛳️ Strategy 1: Leverage US Executive Orders
- Research current executive orders related to supplier diversity
- Identify small and medium-sized businesses in key industries
- Develop partnerships with diverse supplier networks in the US
- Create a supplier diversity policy aligned with US regulations
- Organise webinars to educate suppliers on opportunities
- Set goals for increasing diverse supplier contracts
- Monitor compliance with executive orders regularly
- Collect and analyse supplier diversity data for reporting
- Engage with US-based supplier diversity advocacy groups
- Provide training to suppliers on contract proposals
⛳️ Strategy 2: Utilise UK Procurement Act
- Examine the UK Procurement Act for opportunities
- Identify key sectors with mature supplier diversity programs
- Build relationships with expert groups in the UK
- Promote the procurement act benefits to diverse suppliers
- Host networking events for suppliers to meet potential buyers
- Set clear measurement criteria for supplier diversity success
- Create a mentorship programme for small diverse suppliers
- Collaborate with UK government on supplier diversity initiatives
- Regularly review legal requirements for public procurement
- Highlight successful case studies of diverse procurement in the UK
⛳️ Strategy 3: Focus on Indigenous Procurement in Canada and Australia
- Understand the Indigenous Procurement Policy in both countries
- Identify opportunities in government and private contracts
- Partner with indigenous business councils and networks
- Raise awareness of indigenous suppliers to potential buyers
- Develop training sessions on submitting contract proposals
- Allocate a percentage of contracts specifically for indigenous suppliers
- Create a feedback system to improve supplier engagement
- Publicise achievements in indigenous procurement
- Engage local communities in dialogue for better understanding
- Track progress and impact of policies on indigenous suppliers
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
