OKR template to increase and diversify our portfolio of local, small-scale, and minority-owned vendors

This OKR aims to enhance and diversify the company's list of local, small-scale, and minority-owned suppliers. This will be achieved by initiating and enforcing a supplier diversity policy within the organization. Activities planned include drafting an inclusive supplier diversity policy, conducting training sessions for application and getting leadership's endorsement for the proposed policy.

The second segment of the OKR focuses on increasing procurement from women- and minority-owned stakeholders by 25%. This involves the growth of partnerships with targeted vendors, organizing procurement training emphasizing diversity and identifying promising minority-owned suppliers.

The final component of the OKR seeks to identify and incorporate at least 20 new local, small-scale suppliers by the end of the quarter. Onboarding strategies for chosen vendors will be further developed, potential local, small-scale vendors will be researched, and initial contact and relationship-building with potential vendors will be initiated.

Through this OKR, the company is committed to expanding the diversity of its supplier base, fostering equal opportunities, and uplifting local economies by partnering with small-scale vendors. These changes also mirror the company’s commitment to diversity and inclusion, benefiting both the organization and the wider community it operates within.