BENCHMARKING IMPROVES SUPPLIER DIVERSITY PROGRAMS

摘要

Benchmarking has become a common practice within supplier diversity circles over the last several years. However, benchmarking data can either greatly enhance—or actually hinder—a supplier diversity initiative if it is not collected and used correctly. There are two main reasons why com panies benchmark. One is to compare their performance to date to see how they "stack up" against other corporations. Occasionally, corporations are looking for support to confirm how well they're doing, and in this instance they are generally not interested in devoting additional resources to improve their process.