IQUANTUM
“ Every purchase made needs to be aligned to strategic corporate goals and help to move the needle . Increased government regulation and consumer scrutiny of corporate brand spending has increased the need for a new procurement approach ”
HETAL MEHTA CHIEF EXECUTIVE OFFICER , IQUANTUM
The importance of diversity in procurement and supply chain and the role of iQuantum McKinsey reported that working with diverse suppliers leads to an 8.5 % in cost savings , which is more than the 3 - 7 % savings most procurement organisations realise . “ Prioritising diversity in your employees and your supplier base as a part of ESG is integral to the growth and future trajectory of the company – employees , leadership , investors , stakeholders , and customers seek brands that are improving their profiles ,” says Mehta .
Qualified diverse suppliers bring savings and better service to customers . Procurement leaders have recognised this , and are looking at ways to increase their diverse supplier base ( increasingly Tier 1 and Tier 2 diversity reporting is becoming a mandate across different industry verticals ).
78 February 2023