Best Practices

Resources for Supplier Diversity Programs

The benefits of a supplier diversity program can have lasting impacts on your community and your organization.

For those who work in any area of the supply chain, diversity is a word that comes up often. Supplier diversity or diversity in contracting are programs that can be either mandatory (i.e., requirement to fulfill state or federal contracts) or voluntary (i.e., procurement/social responsibility strategy).   

Whether your organization chooses diverse suppliers for advocacy and social responsibility reasons, to comply with state or federal regulations, or to simply meet your stated requirements and work scope, the benefits of supplier diversity can have lasting impacts on your community and your organization. 

Starting a Supplier Diversity Program (SD Program) in your organization requires input and collaboration from various stakeholders at all levels. The SIG Resource Center has a wealth of information to help you begin the process to implement an SD Program, including how to make the business case to internal stakeholders, best practices and benchmarking studies from your peers.  

Mary Zampino, Senior Director of Global Sourcing Intelligence

This Month at SIG - March 2018

March 2018 Events at Sourcing Industry Group

2018 is already shaping up to be a busy year for SIG and we don't anticipate slowing down. In fact, we're accelerating!

SIG INNOVATION ACCELERATOR

SIG recently announced the launch of the SIG Innovation Accelerator (SIA), which offers a portfolio of services to help develop and improve the innovation pipeline for Source through Supply Chain (SSC) and related functions.

The SIA was created to help SIG’s buy-side companies--and ultimately other Fortune 500/Global 1000 companies--capitalize on their combined knowledge, experiences and buying power to facilitate innovation and improve profits while simultaneously reducing risk for both buy-side companies and product providers.

Becoming an SIA Colleague is the first way for a provider to participate in and benefit from SIA’s services. Benefits of becoming an SIA Colleague include:

  • Eligibility to nominate a product for review and consideration for SIA’s Acceleration Program
  • Opportunities for product focus groups with procurement executives to get feedback on product and marketing/sales strategies
  • Discounts for online certification programs or courses offered by SIG University

A Leadership Council comprised of approximately 24 CPOs and select other executives from SIG’s buy-side member companies will lead SIA's initiatives. All of SIG’s buy-side members are eligible to participate in various SIA activities and benefit from its services. SIA is managed and staffed by SIG and Creatze, which is led by SIG’s founder and former CEO Barry Wiegler.

Stacy Mendoza, Digital Marketing Specialist

5 Smart (and Easy) Ways to Add Humanity to Business Practices

As we move further into arguably one of the worst hurricane seasons in history, our minds and hearts become even more focused on those who were affected by some of the most recent hurricanes. Each news outlet has been sharing the accounts of ordinary people performing heroic acts to save the lives of their neighbors and even strangers. In times of natural disasters, we often find our humanity and the need to reach out a hand to those in desperate need.

I wonder what happens when tragedy is not raining down? Where is the humanity? I would suggest that it is ever present if we choose to look for it. Humanity is shown in the small acts of kindness such as when a stranger goes out of their way to help someone with their luggage, or when a wallet is found and returned in complete condition.

Gandhi stated, “You must not lose faith in humanity. Humanity is like an ocean; if a few drops of the ocean are dirty, the ocean does not become dirty.”

In business, leaders must be the humanity, providing servant leadership to our teams as they struggle through the daily work challenges. We must remember that our role as leaders is likened to that of a silent hero, focused on helping others in a time of need and without personal recognition. 

Here are five things you can do right now to add humanity into your work culture:

Mark Pollack, Vice President, SIG University and Chief Strategy Officer, SIG

Dropping the L in Machine Learning…is Machine Earning on the Horizon?

blockchain

At Singularity University’s Global Summit, keynote speaker David Roberts posed the question, “What if machines made more money than people?” Sounds crazy…but is it? With Blockchain, could that be the way of the future?

I confess that when he asked the question, I still didn’t feel comfortable enough with the concept of blockchain to have an informed opinion on the viability of it. So I did what 77% of people do when seeking information on the Web…I Googled it…and I kept Googling it until I found articles that dissected the concept well enough that it made sense. If you are equally confused by the term, hopefully this analysis will benefit you as well…because rest assured, you WILL need to understand it—especially if you work in sourcing, outsourcing or supply chain as the potential is unlimited.

Fundamentally, blockchain allows consumers to transact directly with one another without the need for an intermediary, like a bank. If you use Paypal and select “eCheck” as your payment method to reimburse a friend for say a concert ticket, it appears to go directly from you to them. In actuality it first has to clear your bank, which can take 3-5 business days, or up to 8 days if another country is involved. Blockchain removes the middleman by using digital currency (aka cryptocurrency) which can be spent with companies or people who are set up to accept it as a form of payment. The digital currency can be converted to cold, hard cash, but with thousands of companies now taking digital payments it is not really the norm.  

Sarah Holliman, Chief Marketing Officer, SIG

The Confection Connection Between Chocolate and Supply Chain: A Sweet or Sour Tale?

In the Mexican coastal town of Puerto Vallarta, where the weather is hot and the tequila flows like wine, a new trend is emerging from an old Mexican delicacy...chocolate. The town is host to a chocolate museum, chocolate tour and fancy tequila/chocolate-paired tasting. Last week I had the opportunity to attend to one of these tastings where I learned about the different types of tequila and how the chocolates amplify their flavors when properly paired.

This unique experience also came with a crash course on the history of Mexican cocoa, the main ingredient used to make chocolate. Cocoa was once only consumed by ancient Mexican royalty. According to my tequila sommelier and a report by the World Agroforestry Centre, the Olmecs – an ancient tribe in Mexico – were thought to be the first people to consume chocolate. These indigenous people crushed the beans, added water, spices and chilies and drank the delicious elixir.

Ironically, last week an article came across my desk about cocoa. What were the odds that in the same week that I learned about the origins and use of this delicious nut, I’d also circumstantially run across an article about its production? I found the correlation too good to be true until I read the article and discovered the unfortunate state of cocoa production. Sadly, this article did not come with tequila, but the bitter reality of a lack of ethics in the cocoa industry’s supply chain.

As supply chain practitioners know, it is critical to know where and how your products are being sourced, but the farther you are geographically from the beginning of the supply chain, the harder it is to control…and in countries where labor laws are lax, it becomes even more tragic. This gets tricky with products that can only be produced in very specific environments. Cocoa is one such product that can only be grown 10 degrees north or south of the equator with the majority of its production in West Africa, the Ivory Coast and Ghana.

Hailey Corr, Junior Editor and Marketing Associate, Outsource and SIG

A Case for Humanity in the Digital Age

In recent months, Warren Buffett signaled what many saw as the death knell for the future of retail by selling off his company’s position in Wal-Mart, which Berkshire Hathaway had held for ten years. Simultaneously, ten national restaurant chains with more than 1,000 locations in total have filed for bankruptcy protection since 2015, and others are reporting disappointing sales. In contrast to all of that, however, Amazon reports growing sales this year in their home delivery service for groceries, trumpeting the growing trend that many people are beginning to embrace of ordering anything and everything online.

Welcome to the Digital Age.

We now live in a time when a hefty 74% of customers rely on their social networks to guide their buying decisions, and 92% of customers feel that online information is more trustworthy than other sources. Digital technology is becoming omnipresent, and it’s doing nothing less than rewiring human society. The critical inflection point at which technological innovation and human experience converge is called Digital Singularity.

There is profound uncertainty in all this, but more importantly, there is profound, unparalleled opportunity. Up until recently, technology was simply a physical tool, like a phone or typewriter, that was used to supplement our lives. Today, however, our relationship with technology has become much more cohesive. Technology is becoming part of how we live, work and play.  In fact, it is becoming an extension of us.

Kevin Parikh,

Improve Your Supply Chain Management with Social Media

As a supply chain professional, you already know the value in establishing and maintaining relationships, but are you maximizing your communication strategy? For millennials, the use of social media is natural; it’s a part of our everyday lives. For other generations, it’s hit-or-miss. Some people are social media privy, some are experts and some avoid it like the plague. Whether or not individuals choose to use social media from a personal standpoint is their own prerogative. Whether or not companies use social media for their brands shouldn’t be a question at all. We live in a digital age where virtually (no pun intended) everything is online. So, it makes perfect sense for you to market your brand online. While having a website is absolutely essential, you also need vehicles to drive traffic to it—one major channel for that is social media. If you’ve totally been ignoring digital transformation for your brand, let’s make a U-turn, take the bull by the horns and start with the following seven steps.

Choose your Platforms

There are 1.5 billion people using social media. Exciting, right? There is a whole virtual universe out there for you to explore. Each social media platform was designed for a different (sometimes just slightly) purpose. In addition, each platform generally reaches unique (yet sometimes overlapping) audiences. Once you understand each platform, you can develop your segmentation strategy. Don’t underestimate the power of these platforms for connecting with your suppliers, vendors and customers. They are using them too and you can learn a lot by being on the platforms they are frequenting.

Create a Voice That’s Consistent Across All Platforms

Ashley Walsh, Digital Marketing Manager

3 Tools to Manage Your Sourcing Online Presence and Reputation

You work hard to build a reputation that’s trustworthy. You’ve created a beautiful logo, compelling marketing collateral, engaging online campaigns and held endless photo shoots – and the list goes on. However, all your hard work is in vain, if you don’t know what others are saying about you or your suppliers.  For example, most companies don’t know if there are slaves in their supply chains. It might sound far-fetched, but human traffickers target unskilled workers to fulfill shortages all along a supply chain and if you’re like most companies, you aren’t even aware of it. Monitoring your online presence, in addition to the reputation of companies you do business with, will provide valuable insights for your brand, and more importantly – will keep you in the know when the reputation of others in question.

These social media tools can help you better monitor your online presence and the reputation of others.

Mention - Paid Service

Mention is an online platform that provides real-time web and social media monitoring. Mention is very user-friendly and is a great way to stay informed every time someone mentions your name, brand or dedicated keywords. The platform is able to monitor billions of online sources in various languages, providing you with super rich data as to what is trending or popular. You can set the platform to receive daily alerts, instantly respond to social media alerts from inside the web portal, set priority status and collaborate with your social media team to improve customer support. This is a great tool for people looking to increase their brand’s awareness, monitor their reputation and grow relationships both online and through social media.

Google Alerts - Free

Daafram Campbell, Marketing Manager, SIG

Five Tips for E-Learning Success

It is increasingly difficult, with jam-packed workdays and busy personal lives, to dedicate time to growing our skill sets. More and more, we are turning to online training or "e-learning." With time at a premium, it is critical that once we do dedicate the time to e-learning, that we gain the most we can from the experience. You can't just click through and hope to magically improve your knowledge and skills. I mean if you are going to take the time and effort to enroll, shouldn’t you engage and maximize your experience?

In my career working with adult learners and technology platforms I have noted a few characteristics that separate the high-achieving student from the just-clicked-through-every-slide student. I'll share a few best practices here.

Commitment

Guy Hanna, Leadership and Higher Education, PhD (ABD)

Leadership…the Key to Innovation

The key to innovation is leadership

To truly innovate, you need a certain kind of leadership in your organization. I always look for and hire people who have an insatiable curiosity and who become bored easily. I truly believe if you have the desire to constantly look toward the unknown you are a person who does not like executing the existing.

In John Sculley’s book Moonshot he speaks about how the traditional education system harms our ability to innovate. By making students remember and recite, we reward children by giving As for the right answer versus asking the right question. We reward people at work for executing according to plans, not for taking risks and for having a futurist mindset. Instead of thinking about how to do something better, we need to start with “do we even need to do it at all?”

Dawn Tiura, President and CEO, SIG

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