Classification is the action of classifying one or more items or properties according to shared characteristics.   Within Supplier Diversity, the difference between classification and commodity is that classification is an industry standard where as commodity is based on an organization’s internal setup.
The term Classification within the field of Supplier Diversity highlights the multiple types of Diverse Suppliers prevalent in the industry today.  Diversity classifications are general and may deal with both certified and non-certified suppliers.  Classifications within the Supplier Diversity industry include the following:
  • Disabled-Owned Business
  • LGBT-Owned Business
  • Minority-Owned Business
  • Small Business
  • Veteran-Owned Business
  • Service-Disabled Veteran-Owned Business
  • Woman-Owned Business