How can you negotiate to increase vendor diversity and inclusion in your supply chain?

2 Define your criteria and expectations

Once you have a clear vision of your VDI goals, you need to define your criteria and expectations for selecting and evaluating vendors. What are the minimum requirements and standards that you expect from your suppliers in terms of quality, delivery, price, and service? How do you factor in diversity and inclusion into your sourcing and procurement processes? How do you communicate your VDI expectations and policies to your vendors and stakeholders? How do you monitor and reward your vendors' performance and compliance? Defining your criteria and expectations can help you create a transparent and consistent framework for negotiation.

3 Research and engage your vendors

To increase your VDI, you need to research and engage with potential and existing vendors who can meet your criteria and expectations. How do you find and reach out to diverse suppliers who can offer competitive and innovative solutions for your needs? How do you build rapport and trust with your vendors and understand their perspectives and challenges? How do you leverage your network and partnerships to access and support diverse suppliers? Researching and engaging your vendors can help you expand your pool of qualified and diverse suppliers and establish long-term relationships.

5 Review and improve your processes

To sustain and enhance your VDI, you need to review and improve your processes regularly. How do you collect and analyze feedback and data from your vendors and stakeholders on your VDI performance and impact? How do you identify and implement best practices and lessons learned from your VDI initiatives? How do you celebrate and acknowledge your VDI achievements and challenges? How do you update and improve your VDI strategy and action plan? Reviewing and improving your processes can help you continuously monitor and improve your VDI effectiveness and efficiency.

6 Learn and grow with your vendors

To maximize your VDI potential, you need to learn and grow with your vendors. How do you foster a culture of learning and growth among your vendors and stakeholders? How do you encourage and support your vendors to develop their skills, capabilities, and opportunities? How do you collaborate and co-create with your vendors to generate new ideas, solutions, and value? How do you leverage your VDI to enhance your competitive advantage, innovation, and social impact? Learning and growing with your vendors can help you create a VDI ecosystem that benefits everyone involved.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?