Diversity Supplier Program Policy

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Diversity Supplier Program Policy

Diversity Supplier Program Policy

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

1. Introduction and Policy Statement

{{company_name}} is committed to fostering an inclusive business environment that reflects the diversity of its customers, employees, and the communities in which it operates. This Diversity Supplier Program Policy (

the 'Policy'

) outlines our commitment to actively seek, identify, and engage with diverse suppliers in our procurement processes. We believe that a diverse supplier base drives innovation, promotes economic growth within underserved communities, and enhances our competitive advantage.

2. Definitions

In this Policy, 'Diverse Supplier' refers to a business that is at least 51% owned, controlled, and operated by one or more individuals from traditionally underrepresented groups. These groups may include, but are not limited to, women, ethnic minorities, persons with disabilities, veterans, and LGBTQ+ individuals. Certification from a recognized third-party organization is preferred to validate a supplier's diverse status.

3. Objectives

The objectives of this Policy are to:

a. Increase the participation of diverse suppliers in our procurement activities.

b. Promote fair and equitable opportunities for diverse suppliers to compete for our business.

c. Contribute to the economic empowerment of diverse communities.

d. Enhance innovation and competitiveness through a broad supplier base.

4. Scope

This Policy applies to all procurement activities across all departments and divisions of {{company_name}}. It covers all goods, services, and works procured by the company.

5. Implementation and Responsibilities

The Head of Procurement/Supply Chain is responsible for the overall implementation and oversight of this Policy. Key responsibilities include:

a. Developing and maintaining a database of diverse suppliers.

b. Integrating diverse supplier considerations into the supplier selection and evaluation process.

c. Providing training and awareness programs for procurement staff.

d. Monitoring and reporting on the company's diverse supplier spend.

All employees involved in procurement activities are expected to adhere to this Policy and actively promote its objectives.

6. Supplier Qualification and Selection

Diverse suppliers will be evaluated based on the same criteria as all other suppliers, including quality, cost, capability, and reliability. Additionally, efforts will be made to:

a. Solicit bids from diverse suppliers for relevant procurement opportunities.

b. Provide feedback and development opportunities to diverse suppliers where appropriate.

c. Partner with organizations that promote diverse businesses to identify potential suppliers.

7. Reporting and Measurement

{{company_name}} will establish metrics to track the effectiveness of the Diversity Supplier Program. Regular reports on diverse supplier spend and engagement will be provided to senior management. These reports will help us identify areas for improvement and ensure accountability.

Key metrics may include: percentage of total spend with diverse suppliers, number of new diverse suppliers engaged, and success rates of diverse suppliers in bidding processes.

8. Review and Amendments

This Policy will be reviewed annually by the Head of Procurement/Supply Chain and the Legal Department to ensure its continued relevance and effectiveness. Any amendments to this Policy will be approved by senior management.

9. Contact Information

For any questions or further information regarding this Diversity Supplier Program Policy, please contact:

{{contact_person_name}}

{{contact_person_title}}

{{contact_person_email}}

{{contact_person_phone_number}}

Signature

_____________________________

{{authorised_signatory_name}}

{{authorised_signatory_title}}

{{date}}