Getting Diverse Supplier Spend to 26%

A frequent question that Chuck Stefanosky, Supplier Diversity Director at Independence Blue Cross, receives is “How do I set my company’s supplier diversity goals?” Chuck’s answer every time: match the diversity of your workforce and suppliers with the community you serve.

This strategy has helped guide Independence Blue Cross’ award-winning DEI program for 35 years and helped it grow its annual spend with diverse suppliers to 26%.

With the program reporting directly to procurement, they have full visibility of where money is being spent today and where diverse spend could be increased. Additionally, Chuck will discuss how supplier management technology ensures that they are capturing all diverse suppliers in their supply base with as minimal manual work as possible.

Watch the session to learn about:

• Creating a sustainable supplier diversity program with sustainable spend

• Automating supplier management to ensure supplier diversity identification and certificate validation

• Supporting diverse suppliers’ working capital