Infographic: Why you need diversity in the supply chain
| March 04, 2021
It’s hard to imagine that we live in a world that’s been in a pandemic for about a year now. We all can probably think back to when we heard the news of when it was hitting China, then in Iran, Italy, England, and progressed to our own backyard in the United States. Prior to the pandemic hitting the U.S., the pandemic was already impacting everyone throughout the world via the supply chain.
Why does the supply chain need to be diverse, you ask? There are underserved populations and businesses that are minority-owned who are not getting a seat at the table.
According to Avinandan Mukherjee, dean of the Lewis College of Business at Marshall University: “[S]mall companies are at the mercy of larger retail buyers and suppliers sometimes, they do get less focus and attention, especially when production is lower at the other end. So bargaining power definitely creates some risk for smaller companies.”
Also, large corporations are often missing the mark for their minority suppliers. Diversity needs to be less talk and more action. The Diversity Consortium is working hard to adjoin supplier solutions, community impact, and is redefining the rules of engagement:
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