January 3, 2024- In recent years, supplier diversity has taken center stage across industries, including healthcare. The movement began as a means to address systemic inequalities and increase access to opportunities for minority-owned, woman-owned, veteran-owned, and other underrepresented businesses. However, it has evolved far beyond a social responsibility initiative. Partnering with diverse suppliers is a powerful strategy that not only strengthens communities but also enhances the resilience and flexibility of the supply chain.
One of the most common misconceptions about supplier diversity is that working with diverse suppliers involves a trade-off in quality, service, or efficiency. In truth, partnering with diverse suppliers should be viewed as an added benefit within sourcing, since smaller vendors can offer specialized, market-specific services.
Locally-owned suppliers have a deep commitment to their communities and unique understanding of the challenges within their markets. By partnering with community-focused suppliers, healthcare organizations can enhance their capacity to address population-specific needs, bridging gaps in care and fostering community trust.
Read More in the latest issue of JHC.