Diverstiy Spend Tracking in a Pandemic

Diversity Spend in the times of a Pandemic

Diversity Spend in Pandemic Times

Supplier diversity will help businesses large and small recover from the COVID 19 pandemic, irrespective of the fact that many medical professionals say the world will never go back to “normal.” As this global catastrophe continues to disrupt business, and life, as we once knew it, the global supply chain is straining under the pressure to fulfill essential needs. Restrictions on importing from specific locales coupled with increased and new demand for certain commodities are exposing weaknesses in the supply chain, and as procurement teams search for alternative sources to fill temporary gaps, the time has come to consider new suppliers and partners in the marketplace.

Enter supply diversity spend, a strategic solution for reducing the impact of COVID 19 on the supply chain.

The Local Factor

In a time when global supply chains are being shaken up, it’s time think smaller – and more local. Quantum diversity spend tracking analysts have seen a trend toward localization growing over the past few years, driven by consumer preference and technological advances, and what we’re seeing now (considering the disruption of the global supply chain) is how a shorter supply chain can be considered an advantage.

Here’s a good example of what we mean and what we have seen via our diversity spend tracking efforts: Sourcing from a local vendor eliminates the need for warehousing, thus cutting costs and expediting delivery. During a time when some commodities are scarce in large quantities, we are finding that local suppliers have access to multiple sources that may not be on everyone’s radar.

Another example, on a micro-level, can be seen with so-called big box stores; these outlets ran out of disinfectant wipes and bathroom tissue almost immediately, with infinite stretches of empty shelves being a common sight at supermarkets. Then, reports began coming in suggesting consumers were turning to locally-owned shops – bodegas, mom-and-pop groceries, farm and ranch supply stores – and discovering that these neighborhood establishments they may not have visited in years, if ever, carried those same supplies at reduced prices.

The Competitive Factor

Companies with supplier diversity programs and which use diversity spend software know that partnering with diverse suppliers offers multiple advantages that help them stay competitive in the marketplace. Here’s how diversity spend adds value to your bottom line:

  • Promotes innovation via introduction of new products, services and solutions
  • Provides multiple channels from which to procure goods and services
  • Drives competition on price/service levels between a company’s existing and prospective vendors

If a company is experiencing supply chain disruption, or is anticipating a disruption following this global crisis, it is imperative to take a look at what diverse suppliers can offer. Solutions such as diversity spend software represent a smart move in an ever-changing world and marketplace.

Share this Article

Related Posts


  1. altyazili
    January 13 2021 at 05:00 AM

    Well I truly liked reading it. This tip procured by you is very practical for correct planning. Danya Fonz Emilio

  2. hd film izle
    January 13 2021 at 15:03 PM

    Hi, just wanted to tell you, I enjoyed this article. Scarlett Herbie Newlin

  3. izle
    January 14 2021 at 02:32 AM

    Some truly fantastic blog posts on this internet site , thanks for contribution. Kessiah Arney Kellyann

  4. full hd tek parça izle
    January 17 2021 at 00:45 AM

    There is definately a lot to learn about this topic. I like all the points you have made. Heloise Tab Yehudi

  5. 720p
    January 21 2021 at 17:35 PM

    Very good blog article. Really looking forward to read more. Awesome. Melissa Rodrick Elon

  6. porno
    January 25 2021 at 14:34 PM

    Thank you! Yes, I took it in the quad on the LSU campus. Adriaens Andras Hortense

  7. Jasonginny
    January 26 2021 at 02:53 AM

    Доставка алкоголя якутск

  8. Jasonginny
    January 26 2021 at 04:40 AM

    Доставка алкоголя якутск

  9. Jasonginny
    January 26 2021 at 06:28 AM

    Доставка алкоголя якутск

  10. Jasonginny
    January 27 2021 at 08:42 AM

    Доставка алкоголя якутск

Post a Comment

Hint: Please enter between 80 - 300 characters.