How do you include diverse vendors?

1 Define your diversity goals

Before you start looking for diverse vendors, you need to have a clear idea of what diversity means for your business and what outcomes you want to achieve. For example, you may want to increase the representation of women, minorities, veterans, LGBTQ+, or people with disabilities in your vendor pool. Or you may want to support local, small, or social enterprises that align with your values and mission. Whatever your goals are, make sure they are specific, measurable, achievable, relevant, and time-bound (SMART).

2 Identify potential diverse vendors

Once you have your diversity goals, you need to find potential vendors that meet your criteria and can deliver the products or services you need. You can use online directories and databases, such as the National Minority Supplier Development Council (NMSDC), the Women's Business Enterprise National Council (WBENC), or the National Gay and Lesbian Chamber of Commerce (NGLCC) to identify certified or verified diverse vendors. Additionally, attending trade shows, events, and networking opportunities, such as the Diversity Alliance for Science (DA4S), the National Veteran-Owned Business Association (NaVOBA), or the Disability:IN Conference can provide you with face-to-face contact with diverse vendors. Lastly, referrals and recommendations from your existing vendors, customers, peers, or industry associations can give you an idea of the quality and reliability of diverse vendors they have worked with or know of.

3 Evaluate and select diverse vendors

Once you have a list of potential diverse vendors, you should evaluate and select the ones that best fit your needs and expectations. To do this, use the same criteria and process you would for any other vendor. This includes assessing their qualifications and credentials, such as certifications, licenses, awards, or accreditations; experience and performance, such as references, testimonials, case studies, or portfolio; pricing and value, such as quotes, proposals, or bids; and compatibility and alignment, such as culture, values, vision, or mission. Doing so will help ensure that you find a vendor that offers competitive and fair rates and terms that match your budget and scope while also fostering a positive and productive relationship.

4 Negotiate and contract with diverse vendors

Once you have identified your desired diverse vendors, it is important to negotiate and contract with them to establish the partnership and outline expectations and obligations for both parties. When doing so, it is beneficial to communicate clearly and respectfully, using straightforward language, listening actively to one another's interests, and working together to achieve win-win solutions. Additionally, it is important to document and review the key terms of the agreement, such as scope, deliverables, timeline, payment, quality, risk or dispute resolution. It is also beneficial to review these terms regularly and update them as necessary.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?