Boathouse Group Implements a Supplier Diversity Program
Debra John — September 25, 2024 — Social Good
References: boathouseinc & digiday
Independent marketing and communications agency, Boathouse Group is implementing a supplier diversity program to enhance its inclusivity initiatives. This program aims to collaborate with a wider range of businesses, including large and majority-owned vendors, to diversify the products and services in its supply chain.
Boathouse has set a goal to double its spending with diverse suppliers over the next three years, although specific amounts have not been disclosed." The program is guided by five strategies, which include "supporting certified and non-certified small businesses, as well as minority-owned, woman-owned, veteran-owned, disability-owned, and LGBTQ+-owned enterprises—the agency will also provide supplier diversity education across its departments."
To evaluate the program's effectiveness, Boathouse "will track various metrics, including the number of clients engaging diverse suppliers, the dollar amounts allocated to these suppliers, and client perceptions of the quality of work over time."
Image Credit: Boathouse Group Inc.
Boathouse has set a goal to double its spending with diverse suppliers over the next three years, although specific amounts have not been disclosed." The program is guided by five strategies, which include "supporting certified and non-certified small businesses, as well as minority-owned, woman-owned, veteran-owned, disability-owned, and LGBTQ+-owned enterprises—the agency will also provide supplier diversity education across its departments."
To evaluate the program's effectiveness, Boathouse "will track various metrics, including the number of clients engaging diverse suppliers, the dollar amounts allocated to these suppliers, and client perceptions of the quality of work over time."
Image Credit: Boathouse Group Inc.
Trend Themes
1. Supplier Diversity Programs - Supplier diversity programs are broadening business participation from underrepresented communities, creating more inclusive supply chains.
2. Metrics-driven Inclusivity - Businesses are increasingly using data and metrics to track and measure the success of their inclusivity and diversity initiatives.
3. Cross-departmental Diversity Training - Implementing cross-departmental diversity training helps ensure cohesive understanding and execution of inclusive practices throughout the organization.
Industry Implications
1. Marketing and Communications - The marketing and communications industry is beginning to prioritize inclusivity by collaborating with a diverse range of suppliers.
2. Supply Chain Management - Innovations in supply chain management are enabling companies to enhance their diverse sourcing strategies and support small and minority-owned businesses.
3. Education and Training - The education and training industry is integral for providing organizations with the resources to execute effective supplier diversity programs.
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