Organizations are in a greater position to use their economic and social influence to support minority owned businesses in conjunction with their D&I initiatives.

Eastridge hosted a free webinar with experts that helped shape programs at Oracle, DXC Technology, and HP. The panelists focused on how supplier diversity programs positively impact business and how organizations can get started.

Research justifies the importance of these programs by noting that companies with a supplier diversity program have experienced:

• 133% greater ROI when compared to companies with a dated program
• $3.6M increase in their bottom line for every $1M spent on procurement and operating costs
• Reduced operating costs and a 20% decrease in purchasing operations

Our webinar provided over 100 companies with subject matter expertise on how to develop their own supplier diversity programs. The following topics were reviewed:

• What is supplier diversity and why should you have a program
• How to start a supplier diversity program
• How to create a successful multi year program
• How to strategically manage the program

As next steps, Eastridge is currently collaborating with multiple clients to help them develop their own supplier diversity programs. The first programs will be formally launched by June, 2021 and it is the expectation that our teams will continue to partner with additional clients moving forward.