Supplier Diversity: From “Checking the Box” to Developing a Trusted and Valued Partner

This article discusses why supplier diversity is so important. Companies in the private and public sectors are asking vendors to identify the amount of funding they will spend on minority and diverse firms as they bid for potential projects. This often leaves vendors scrambling to find a qualified minority business enterprise (MBE) to support their needs. An MBE is defined as a for‐profit enterprise, regardless of size, that is physically located in the United States or its trust territories and is owned, operated, and controlled by minority group members ‐ US citizens who are Asian, black, Hispanic, or Native American.