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.
Progress 2020 will look to create a business case for supplier diversity and small business based on publicly available information recorded over the past 10 to 15 years. The information compiled through our research will be used to answer some of the industry’s toughest questions including; 1) What are the future national demographic projections and how will it impact American wealth? 2) How can supplier diversity programs evolve into departments assisting in revenue generation? 3) What is the future of supplier diversity and why does it matter to America?
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:
1) Track $100 billion in Annual Spend with Tier 1 Small and Diverse Suppliers
2) Track $20 Billion in Annual Spend with Small & Diverse Suppliers at a Tier 2 Level
3) 10,000 Small and Diverse Supplier Tier 2 Engagements.
4) Track Half a Million Jobs Created with Diverse Suppliers Annually
5) Help Customers Find at Least $1 Billion in Lost Spend with Small and Diverse Suppliers in Current Supply Base