Supplier Diversity Project

Daniel Penn - In the News

PRESS RELEASE

Hartford, CT – December, 2011

In 2011, Daniel Penn Associates, LLC was retained by a Fortune 100 financial services company to conduct a comprehensive supplier diversity assessment study. There were several key objectives: 1.) assess current culture, processes and roles, build-out the Business case through a review of current business units and functions, scan of the supply chain and make recommendations for strategies and action to support their further investment in a fully implemented and sustainable supplier diversity program. In conducting this assessment, Daniel Penn initiated the following:

  • Executed a SWOT analysis of the corporate environment and supplier diversity activities by interviewing key executive, senior and mid –management personnel to ascertain current state and feasibility of success
  • Conducted a benchmarking study with other similar companies within the financial services industry (and others) to determine: 1) current, 2) best in class and 3) next practices in creating a diverse and inclusive supply chain
  • Developed rationale at corporate and industry level to support the supplier diversity business case
  • Assessed supply chain and current spend/commodity activity and developed sourcing plans for Tier 1 and Tier 2 commodities to increase utilization of diverse suppliers
  • Developed criteria for communicating to internal and external audiences
  • Developed framework for training, auditing and metrics systems, and a supporting management infrastructure
  • Utilized findings to develop and recommend an overall strategy for supplier diversity as a recognized core value with a corporate commitment to greater outreach, improved supply chain performance and results and as a sustainable diversity and inclusiveness practice

Additional Information:
Tony Rodriguez, President, Daniel Penn Associates
Phone: 860-232-8577
Email: info@danielpenn.com