Supplier Diversity

In an effort to grow the economy, the US Federal government requires businesses and service firms to contract with minority and women-owned businesses. Minority contractors are classified in several ways and subcontract targets are established for each. In recent years, state and local governments, and now many major private companies, are also requiring minority subcontracting. This activity is called "minority spend."

Many companies are discovering that establishing or significantly improving minority spend programs is required order to maintain business and obtain new business. What's more, companies are finding that it is a cost-effective, sound business practice to integrate minority spend considerations with core business processes.

Daniel Penn Associates is a certified minority business and has assisted major companies in establishing minority spend processes which meet the following requirements:

		Implementation of formal definitions of minorities and compliance conditions;
		Establishing minority spend organizations;
		Sourcing, developing and certifying minority and women-owned businesses;
		Writing subcontracting contracts containing specific terms and conditions;
		Implementing tracking and accounting systems that meet the formal definitions;
		Integrating research and development, strategic sourcing, and purchasing processes with new minority spend processes; and
		Developing accurate reporting and management systems.

The specific service areas we provide to implement and enhance Supplier Diversity programs include:

		Assessments & Improvements
		Program Development

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