2024 State of Supplier Diversity Report

The 2024 State of Supplier Diversity Report is a comprehensive analysis based on a survey of over 350 supplier diversity professionals. It outlines the latest trends and challenges in corporate supplier diversity and responsible sourcing programs. The report identifies key findings, including the strengthening of executive support and business relationships, the expansion of data and tools to demonstrate program value, and the growth of supplier diversity programs with deeper connections to business objectives. It discusses how organizations are increasingly reporting supplier diversity results to CEOs and boards, reflecting its strategic importance. Additionally, the report emphasizes the role of supplier diversity in enhancing brand reputation and competitiveness, as well as its integration with Environmental, Social, and Governance (ESG) initiatives. The document also presents data-driven strategies for enhancing supplier diversity programs, highlighting the need for accurate data and robust tools to measure impact and drive improvements.