Visa's Simona Rabsatt Butler on Supplier Diversity

Bill Duggan What are the benefits of working with diverse suppliers for marketingadvertising Simona Rabsatt Butler There are multiple benefits Beyond being the right thing to do benefits include bringing diversity of thought and thought leadership to the work and partnership providing flexibility and agility other suppliers might not have providing the company with the ability to impact communities directly and affording corporations a direct ability to drive equity within their supply chain while having a positive economic transformative ripple effectDuggan Broadly what is the role of sourcing in supplier diversityRabsatt Butler Sourcing39s role is to be a conduit and advocate to and for diverse suppliers We should partner with diverse suppliers to ensure they are not only supporting business needs but growing to their benefit as well as being a partner with our internal stakeholders to gain visibility to business opportunities where diverse suppliers can supportDuggan How important is it to you that diverse suppliers be quotcertifiedquot Do you work with noncertified diverse suppliers as well What39s the differenceRabsatt Butler Certification is important as a validation that a supplier is truly 51 percent owned and operated by a diverse classification It is a guiding post for corporations Also certification for diverse suppliers by an advocacy group affords membership and access to help them grow and evolve their businessesDuggan Finding diverse suppliers in marketingadvertising can be a challengeamp160 What39s your approach to finding suppliersRabsatt Butler Not sure I agree finding diverse suppliers in marketingadvertising is a challenge I guess it depends in what area you are asking We have to remember diversity isn39t found in all areas of marketingadvertising so maybe that39s what makes it hard I39d like to think that things are changing with ANA doing a great job of curating over 300 diverse suppliers in various areas of marketingadvertising Other ways to find diverse suppliers include leveraging advocacy groups such as NMSDC WBENC and NGLCC and their data bases and engaging fellow sourcing or supplier diversity professionals to tap into their networks An oftenoverlooked option is diverse suppliers themselves They have their own network and if you are truly building strong partnerships with them there is a wealth of information they can provide amp8211 from access to other diverse suppliers to business trends and innovation I think the real question is 39Are you expanding your bubble to find diversity39Duggan Aren39t diverse suppliers more expensive Rabsatt Butler This question always intrigues me as if diverse suppliers don39t deserve to be compensated for their services All suppliers cost money and it is sourcing39s role to review the services requested against the timing and financials proposed We benchmark analyze and negotiate to an amenable middle ground for both parties no matter the diversity of the supplier No one ever questions if nondiverse suppliers are more expensive They are either one of the country39s top agencies so it is expected or they are a boutique company and it is expected There39s always a positive reason for a nondiverse supplier to be more expensive So like many corporations who are working to change the script on using terms like blacklist master agreement and grandfathered I challenge sourcing to change this longheld script which is really an excuse as to why a diverse supplier isn39t chosen to do the work or get compensated fairlyDuggan Please address the importance of supplier development plansRabsatt Butler Supplier development plans are great ways to identify diverse suppliers excelling within your corporation that you can partner with to grow within your business as well as have them evolve theirs Plans can be an equitable win for both parties not to mention great partnerships that can produce innovation and industry change Until equity in DEampampI is truly achieved supplier development plans are another way to help drive inclusion in business opportunities diverse suppliers often have no or limited accessDuggan What has changed most for you in your role as a sourcing professional over the past year Rabsatt Butler Corporate increased awareness on DEampampI holistically especially around African AmericansBlacks Traction and participationamp8212most strategies struggled to achieve were put on a fast track that required a reconsidered approach to educate empower and drive supplier diversity forward with business partners new to it all Increased conversations at conferences between sourcing professionals and creation of strategies for companies that didn39t have it or want it on their radars More requests to talk about how to start a programinitiativeClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNetamp160

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Visa's Simona Rabsatt Butler on Supplier Diversity

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Bill Duggan

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

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Visa's Simona Rabsatt Butler on Supplier Diversity

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