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Ahead of their global conference on supplier inclusivity and diversity, Procurement Leaders invites MSDUK founder Mayank Shah shares lessons from 10 years of helping businesses make supply chains more inclusive.
An inclusive approach to sourcing brings innovation, positive disruptive new products and services, can mitigate risks within your supply chain, drives competitive advantage and removes all biases, making procurement transparent and sustainable. Better said than done, isn’t it? When sourcing teams are under pressure to deliver cost savings, support a heightened risk agenda and drive consolidation, these words come across as wishful thinking!
I founded MSDUK in 2006 as UK’s first corporate-led organisation that encouraged big firms to drive inclusive procurement behaviour and engage with ethnic minority owned businesses (EMBs). 10 years on, we 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; organised 84 industry specific meet the buyer events, hundreds of learning sessions and 5 global conferences.
Our efforts have supported £70m of spend with EMBs and the communities they are located, creating new jobs in those places. Large firms have in return got access to a new, improved and innovative supply base, but what is more important is that these ten years of real stakeholder engagement has left big lessons – good and bad and proven without doubt that if done smartly and diligently, inclusion of diverse owned SMEs brings real tangible economic and social benefits for everyone in the supply chain.
And if I have to pick a few things that have worked and a few things that have not worked to make supply chain inclusive, they are:
Reasons why supply chain inclusivity is easy:
Reasons why supply chain inclusivity might be a non-starter:
MSDUK is organising a global conference on inclusive procurement in London on 21st, 22nd Sept with global experts, CPOs, sourcing professionals, policy makers and 100s of enterprising minority business owners will be in attendance, providing opportunity to meet, learn, share knowledge and network.
Procurement Leader readers will get a special discount of 10% on registration by using special discount code; PL10.
Register online at msdukconference.msduk.org.uk/.
This contributed article has been written by a guest writer at the invitation of Procurement Leaders. Procurement Leaders received no payment directly connected with the publishing of this content.