Best-in-class Supplier Diversity

Daniel Penn - Case Study

Laying the Foundation for a Best-in-class Supplier Diversity Program

Daniel Penn Associates worked with a Fortune 200 financial services company over a three-month period to assess the organization’s current supplier diversity efforts.

With the company’s senior management and corporate diversity team, DPA conducted and developed:

  • A gap analysis of the company’s current supplier diversity activities against industry best practices
  • A supply chain scan of 30,000 transactions over a 22 month period
  • A benchmarking study to identify supplier diversity best practices across the financial services sector
  • A customized business case for supplier diversity for use by senior management and the company’s business units
  • A strategic sourcing plan to identify pre-qualified Minority Business Enterprise/Women Business Enterprise suppliers for first and second tier contract opportunities
  • A detailed three-year action plan to implement an industry-leading supplier diversity program

As a result of DPA’s assessment and recommendations, the company’s diversity and strategic sourcing units — with support from the CEO and senior management — are now beginning to develop structure and promote a best-in-class supplier diversity program that will be implemented across the entire enterprise.