by MAYANK SHAH
Originally published: April 10, 2017
Diversity within the workplace is something that many businesses today strive for. They want teams made up of people from different backgrounds and different cultures because of the benefits that they bring in terms of ideas as well as more efficient ways of working.
The same is true of a company’s supply base with many recognising the benefits that a diverse supply base can bring. An inclusive approach to sourcing brings innovation, positive disruptive new products and services, mitigates risks within supply chain, drives competitive advantage and removes all biases making procurement transparent and sustainable. However, when sourcing teams are always under pressure to deliver cost savings, support a heightened risk agenda and drive consolidation, an inclusive approach becomes wishful thinking!
Minority Supplier Development UK (MSDUK) was established by Mayank Shah, Founder and CEO in 2006 as UK’s first corporate-led organisation that encouraged large private sector firms to drive inclusive procurement behaviour and engage with ethnic minority owned businesses (EMBs). 10 years on, they have worked with sourcing teams of over 100 large firms, more than 500 sourcing professionals and nearly 1000 small and medium size businesses owned by ethnic minorities with a combined turnover in excess of £1bn employing over 13000 people.