Breaking the Myths: Why DEI in Procurement is Still Essential for Growth

Diversity, Equity, and Inclusion (DEI) programs in procurement have faced scrutiny, with some questioning their necessity. However, DEI initiatives are crucial for driving economic growth, enhancing competitiveness, and fostering sustainable business ecosystems.

Debunking Common Myths

• Myth #1: Supplier Diversity Lowers Quality
  Reality: Many diverse suppliers offer specialized expertise and flexibility that large vendors cannot provide.
• Myth #2: DEI is Just a Trend
  Reality: Companies that prioritize supplier diversity are outperforming their peers in profitability and innovation.
• Myth #3: It's Too Hard to Find Qualified Diverse Suppliers
  Reality: AI-powered platforms like Scaleup simplify the process, matching enterprises with vetted SMBs.

A study by the National Minority Supplier Development Council (NMSDC) found that certified minority-owned businesses generated more than $400 billion in economic output in 2018, contributing to the creation and preservation of more than 2.2 million jobs.

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