Progress 2020 is a formal partnership between supplier.io, Diversity Reporting Solutions, and Supplierty News to incorporate achievable goals and metrics to quantify the corporate benefits of supplier diversity and small business programs. For many years, organizations have promoted the need to support small and diverse businesses yet have never established an industry-wide project plan to expand upon a market worth well over $100 billion in annual spend.
What does this means?: Total client purchases attributed to small and/or diverse suppliers will be tracked for this goal.
How does this benefit the industry?: We believe providing a management tool that can efficiently track purchases with small and diverse suppliers can help client’s gauge purchasing strategy performance and create an effective process to grow their supply chain(s).
Over the next 2 years, we are committed to engaging organizations and individuals within the supplier diversity and small business community to accomplish the goals set forth. Our goals are purposefully specific and measurable to create a sustainable foundation within the industry for future growth. We believe all goals included in our commitments can be completed by December 31st, 2020.