Collaboration to provide solutions for diverse supplier engagement and inclusive procurement
ATLANTA, GA, UNITED STATES, September 16, 2022 /EINPresswire.com/ — The Georgia Minority Supplier Development Council (GMSDC) has partnered with Insight Sourcing Group to provide cutting-edge software and service solutions for the supplier diversity community. The GMSDC is the state of Georgia’s leading advocate for inclusive procurement and economic equity, having facilitated supply chain partnerships in Georgia since 1975. The GMSDC community includes more than 400 Georgia corporations and some 900 Minority Business Enterprise (MBE) firms who transact more than $9 billion in revenues annually.
The pandemic economy had a disproportionate impact on communities of color and minority owned businesses, with failure rates due to closures and cutbacks at much higher levels than their mainstream peers. There is now a renewed emphasis on economic equity across the spectrum in corporate supply chains, as large companies seek to implement enhanced strategies for economic inclusion. This partnership between the state’s top supplier diversity advocate and a leading strategic sourcing and procurement firm will revolutionize the way corporate supply chains engage diverse suppliers and partner with them to do business.
“Making DE&I actionable by incorporating world-class best practices and smart technologies results in tremendous benefits not only for the supplier community and corporations, but also for the broader local and state economic base,” states Rod Robinson, SVP & Supplier Diversity Practice Leader at Insight Sourcing Group. “We are honored to be providing these foundational elements to advance the GMSDC members’ access to diverse suppliers. We want corporations to not only count spend, but make that spend count; develop capacity, increase revenue and expand their base of suppliers. ”
While many procurement organizations face challenges achieving established Supplier Diversity goals, many more struggle to simply get started due to poor spend visibility, lack of quality benchmarks and the inability to locate qualified diverse suppliers within relevant spend categories. The partnership between the GMSDC and Insight will provide smart solutions and tools to enable corporate procurement organizations to launch new or accelerate existing Supplier Diversity initiatives.
Stacey Key, the President and CEO of the GMSDC, sees the Insight relationship as a game-changer for corporate supplier diversity programs. “The GMSDC is in the process of revamping its toolkit for supplier diversity professionals, by providing new best practices guidance and enhanced access to innovative solutions to their challenges,” says Key. “The Insight partnership is one part of a major effort to reimagine supplier diversity in a post-pandemic economy. If we can support our current and future members in engaging more diverse companies and making better use of their resources, we can achieve economic equity in Georgia.”
Insight Sourcing Group provides world class solutions for rapid impact and long-term sustainability. As a strategy consultant to supplier diversity programs, the expertise they bring to the GMSDC’s dynamic corporate community is vitally important. Additional information about solution specifics and partnership resources will be forthcoming. For more information, visit insightsourcing.com and gmsdc.org.
About the GMSDC
The Georgia Minority Supplier Development Council, Inc. (GMSDC) is a not-for-profit organization that fosters value-driven partnerships that may otherwise not be possible between corporate entities, ethnic minority-owned businesses and government entities in the state of Georgia. With over 400 national and local corporate members and more than 900 certified minority business enterprises, the GMSDC recently celebrated 47 years as a leader in supplier diversity and minority business development. For more information, call 404-589-4929 or visit www.gmsdc.org.
About Insight Sourcing Group
Insight Sourcing Group is the premier firm in North America exclusively focused on strategic sourcing, cost optimization and procurement operations transformation. Founded in 2002, Insight’s capabilities are designed to accelerate impact through the expertise of its 250+ procurement experts, its market-leading Category Center-of-Excellence model, and practices specializing in Supplier Diversity and Energy Management & Sustainability. For over 20 years, its deep bench of sourcing and category experts has executed over 7,000 sourcing projects, and within the last year alone, they have achieved over $1.25 billion in savings for clients with an average 7:1 one-year ROI. To learn more, visit insightsourcing.com